USA TODAY International Edition
Yankees worth $ 7B; surprise team boasts top 5 profit
Despite a lockout that pushed back the start of the 2022 season plus ongoing media rights issues, Major League Baseball continues to break its own records in terms of team valuations and annual income.
On Thursday, Forbes released its annual report of MLB valuations, which ranks each team by its overall worth and also shares whether each team posted a profit or loss over the 2022 season.
There might be some surprises as to who’s made the most money while there are fewer surprises as to who remains the league’s most expensive franchises.
As opening day for the 2023 season approaches Thursday, here’s a look at the most valuable MLB teams and how the bottom lines look for other teams.
Yankees remain most valuable MLB team after 2022 season
For the 25th year in a row ( since Forbes first published its list in 1998), the New York Yankees are MLB’s most valuable franchise. In the most recent valuation, New York showed an 18% increase over last year for a valuation of $ 7.1 billion, the most the team has ever been worth.
The Steinbrenner family raked in a gross revenue of $ 657 million last year with an operating budget of $ 16 million. They earned $ 143 million in cable money as their games are broadcast on their own YES Network.
In 2022, The Yankees finished second in the American League and won the AL East for the first time since 2019. The made it to the ALCS, where they were swept by the Houston Astros, the eventual World Series champions.
In December, New York won the Aaron Judge sweepstakes and kept their superstar with a nine- year, $ 360 million contract.
The other teams in the top 5 of most valuable MLB teams are the Los Angeles Dodgers ($ 4.8 billion), Boston Red Sox ($ 4.5 billion), Chicago Cubs ($ 4.1 billion) and San Francisco Giants ($ 3.7 billion).
Mariners, Athletics posted top 5 profits in 2022 season
As revenue from tickets and premium seating increases, MLB posted an overall income of $ 10.3 billion in 2022, the most ever.
Leading the way with the highest profit in the league was the Seattle Mariners with $ 83.8 million. The team’s profile has continued to rise as the Mariners welcomed rookie Julio Rodríguez, who finished second in the 2022 Home Run Derby. After finishing second in the AL West, the team returned to the playoffs for the first time since 2001, ending MLB’s longest playoff drought.
Following as the fifth- highest profit in MLB, the Oakland Athletics finished the 2022 season with a 60- 102 record, last in the American League and second worst in all of baseball. They still managed to rake in $ 62.2 million as the discussion of whether they will stay in the Bay Area continues. They are also one of the many teams at risk of having their television profits cut next year.
In between the Mariners and Athletics as the teams with the highest profits were the Giants ($ 74.9M), Red Sox ($ 71.6M) and Baltimore ($ 64.7 M).
Mets posted highest operating loss in 2022 season
The New York Mets posted the biggest loss of the 2022 season, losing $ 138.5 million. They were the most recent MLB team sold when Stephen Cohen bought the franchise in 2020 for $ 2.475 billion. The Forbes report said that if Los Angeles Angels owner Arte Moreno went through with his sale, he was expected to beat that record with a price tag of $ 2.7 billion.
The Mets still have to pay Bobby Bonilla $ 1.19 million plus interest through 2035 and in February were also sued for age discrimination by former pitching coach Phil Regan.
The Mets have double the loss of any other team. Following New York are the San Diego Padres ($ 55.2 million), Chicago White Sox ($ 53.4), Toronto Blue Jays ($ 33.7 million) and Minnesota Twins ($ 30.3 million).