Dave, tough question to answer without knowing if the MASN rights have to be included with the franchise. If MLB had half a brain, they would have made sure the price guarantee INCLUDED the MASN rights, which have huge value, thanks to the Nats. On the other hand, if Angelos can strip the MASN rights, it would really diminish the value of the franchise. I have to think these rights are included, which supports a high value.
I think they have a good stadium deal, and the stadium is tops. The team is profitable, thanks to the various and sundry revenue sources. And any decent management at all, improves the competitive landscape significantly. So I think they would fetch close $365m, or more. No way Ripken is the only bidder, and it only takes one or two more serious bidders to drive the price to the top.