Shack, you never answered my question, if Jays are so big market, then why are they ranked #16 on Forbes value list??
Number 16 means we're actually below average since there are 30 MLB teams
Market size and value are 2 different things.
As an example, the Packers are by far the smallest market in the NFL yet are the 10th most valued team. There are 22 teams that have a bigger market than the Pack yet are valued lower. Dallas is by far the highest value, yet there are a number of markets that are bigger than Dallas.
So your claim that there has to be a 1:1 correlation between market size and value is patently false.
Market size means one thing and one thing only and that is the number of people that live within the sphere of a teams influence with which they can draw revenue.
If a team does not generate enough revenue from those fans, then their value will be decreased. If a tiny market like Green Bay builds up a loyal following in spite of their size they will be valued more than bigger markets because they have figured out how to generate more revenue in spite of their size.
The Jays have the 3rd or 4th biggest (GTA, southern Ontario, Canada) market in MLB but because they haven't figured out how to fully capitalize on that market their value is decreased. IMO, because they run their team under shapeero like a small to mid-market team, that is why they are 16th. Like I pointed out earlier, they will probably lose $100M in revenue from last year, because they are operating on the cheap. They are not being run like a first class organization and as such the result in value ranking is totally understandable an not some sort of aberration as you seem to think.
If you can't understand the difference now between market size and value, I can't add anything that will not continue to go over way over your head, like a Biagini curve ball being hit way over Pillar's head.