Why indeed? What a brilliant idea. I think it'd make a ton of money. Here are some reasons why:
- Baseball has a long history in Mexico and a built-in natural fan base. The Mexican League has 16 teams, whose fan base could be mined and marketed to nationwide.
- Mexico City could fill a big stadium. It has 20+ million people, as big as any US market, and as the first Mexican MLB team it would draw fans from nationwide.
- Millions of Mexican immigrants and first-generation citizens of Mexican descent in the United States offer continent-wide subsidiary merchandising opportunities.
- Baseball players would still cost millions of dollars, but labor costs for everything else from building or modifying a stadium to mopping the bathroom stalls would be cheaper in Mexico. That would improve margins every year.