On-field struggles aside, Giants and A's had very profitable 2022 seasons
The Giants and the A's didn't provide Bay Area baseball fans much to cheer about on the field last season, but both teams' bottom lines were big winners.
Despite missing the playoffs, the Giants turned the second-largest profit in the majors last season ($74.9 million), while the A's were the fifth-most profitable team ($62.2 million) despite losing 100 games for just the second time in Oakland franchise history and ranking dead last among the 30 teams in attendance.
Those were just a few of the stunning financial details to come out of Forbes' annual report of MLB valuations, which was released Thursday.MLB values reached record highs — and profits — despite a season that was delayed by a lockout and media rights squabbles.
According to the report, the Giants are the fifthmost valuable franchise in the majors at $3.7 billion. The Yankees top the list by a wide margin – $7.1 billion — followed by the Dodgers ($4.8B), the Red Sox ($4.5B) and the Cubs ($4.1B).
The Giants' value went up 6%, according to the report, despite a disappointing season that saw them go 81-81 and finish third in the NL West after a captivating 2021 that included the franchise's first division title in nine years. The Giants reportedly made $421 million in revenue last season despite ranking 12th in the majors in attendance. The Giants' payroll of about $162 million last season ranked 12th (the Dodgers were first at $270M), according to Spotrac.com.
The Giants didn't add Aaron Judge or Carlos Correa, but their payroll is projected at closer to $183 million this season after several free-agent additions like Michael Conforto and Mitch Haniger.
The A's spot as a Top-5 profit franchise is another frustrating turn for A's fans who have seen all of the team's biggest stars jettisoned over the past 14 months as the franchise battles the city of Oakland over a potential stadium deal — all the while with the threat of a move to Las Vegas looming overhead.
Forbes ranked the A's 29th in franchise value ($1.18B) — ahead of only the Marlins ($1B). The A's were the only team in the majors to fail to average more than 10,000 fans (9,973) and four times drew fewer than 3,000 to the aging Coliseum.
The A's have one of the worst media contracts in
baseball, too. So how did the A's manage to still make more money than any team other than their cross-bay rivals, the Mariners ($83.8M), the Red Sox ($71.6M) and the Orioles ($64.7M)?
The A's had the secondlowest payroll, around $50 million, and also received about $9 million in revenue sharing to go along with revenue of about $245 million, according to Forbes. The A's figure to be profitable again this season no matter how they do on the field: The A's will reportedly receive $20 million in revenue sharing and their payroll is estimated at about $58 million according to Fangraphs.
Interestingly, the top two teams that lost money in 2022 made the playoffs: The Mets ($138.5M), the Padres (55.2M). Another playoff team, the Blue Jays, lost $33.7 million, fourth between the White Sox
($53.4M) and the Twins ($30.3M).
— Laurence Miedema PHILLIES' HOSKINS TEARS ACL >> Philadelphia Phillies first baseman Rhys Hoskins needs surgery for a torn ACL after injuring his left knee Thursday fielding a grounder in a spring training game and is expected to miss a significant amount of time.
Hoskins hit 30 homers with 79 RBIs last season for the reigning National League champions.
He was backing up to play a chopper on Thursday when the ball popped out of his glove. Soon after, he fell to the ground and began clutching his left knee.
Hoskins, a free agent at the end of the season, turned 30 last week.
The injury was another blow for the Phillies, who will be without top pitching prospect Andrew Painter for another few weeks because of a sprained ligament in his right elbow.
And slugger Bryce Harper isn't expected back until around the All-Star break after undergoing Tommy John surgery in November. CARDINALS' WAINWRIGHT SIDELINED >> Adam Wainwright was in line for his seventh opening day start. Instead, the veteran St. Louis Cardinals righthander will begin what's slated to be his final season on the injured list with a groin injury.
Cardinals manager Oliver Marmol said that Wainwright could miss several weeks.
The 41-year-old apparently strained his groin in a workout before Team USA lost to Japan 3-2 in the championship game of the World Baseball Classic on Tuesday. Wainwright went 2-0 with a 2.25 ERA over eight innings to help the U.S. reach the final.
Wainwright has gone 195-117 with a 3.38 ERA over 17 seasons with the Cardinals.
BRAVES CLOSER IGLESIAS OUT >> Atlanta Braves closer Raisel Iglesias will open the season on the injured list due to right shoulder inflammation.
The Braves say an MRI showed the right-hander has “low-grade” inflammation and will not throw for seven days.
Iglesias was expected to move into the closer's role after Kenley Jansen signed with the Boston Red Sox. Iglesias, 33, had a combined 17 saves last season for the Los Angeles Angels and Atlanta.
Left-hander A.J. Minter and right-hander Joe Jiménez, acquired from Detroit in the offseason, are among the candidates to handle save situations at the start of the season.