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Originally Posted by RchW
I think market in this case refers to local draw. Yes Toronto gets national attention across Canada but in fact they don't benefit from their TV package like other teams because it is an in-house deal. So the national attention the Jays get does nothing for revenues because Rogers doesn't pay market price for TV rights and the Jays don't share in the US national deal AFAIK. Not 100% sure about the US part.
The issue in determining the Toronto market is the population from Oshawa to Niagara approaches 6 million not the 3.5 million pop of Toronto.
Last but not least is currency exchange. Toronto used to get makeup funds from MLB to account for USD exchange. That stopped several seasons ago so they make 25%-30% less from revenues in CAD.
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OP said:
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So the best way to think of market size, is each team's national brand and popularity.
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So yes, based on what the OP is doing, it's important to factor in how all of Canada impacts on Toronto, where as most of the other teams are regional teams.