I'm sure all owners would love to be able to do what Steinbrenner does. But I don't think it's financially possible.
Let's say for every extra $1,000,000 George re-invests, up to $50,000,000 he gets a return rate of 10%. So he'd make $5,000,000 profit eventually by investing $50,000,000 now. Say the owner of another team, the Jays for instance, gets a return of 2% for the same investment. And after the $50,000,000 threshold, the Yankees return rate becomes 5% while the Jays' return rate becomes -2%. The Jays lose
$20,000 for every extra million they invest, while the Yankees are still gaining a lot fo money per their investment.
Keep in mind this is short-run, and longrun would be different. But it's not as simple as Team X investing more money to get more profit. There are different markets for every team. It takes a long time to build up a market. George has been working at it for a long time, and only recently (the past decade) have they been extremely successful. This is all accomplished with the population of the entire country of Canada in his state alone.
Now I'm not excusing teams like Milwaukee who don't spend enough money, but a lot of teams don't have the capability to do what the Yankees are doing. On a lesser scale, yes. The Jays are owned by a radio and TV company, Rogers, and have all that nice stuff that the Yankees have, but our revenue is nowhere near theirs.
I think baseball needs a salary floor, and also a salary cap. Each issue would cancel each other out in terms of player and owner happiness. Maybe not, but I can dream