In the world of Major League Baseball, where the love for the game knows no bounds, something extraordinary is happening. The economic challenges faced by regional sports networks seem to be powerless against the gravitational pull of the MLB franchises, which continue to rise as some of the hottest assets in the sports world.
Before Arte Moreno reconsidered his decision to sell the Los Angeles Angels in January, the astounding valuation he could have commanded would have left even the most seasoned baseball enthusiasts in awe. According to insiders familiar with the sale process, Moreno could have pocketed a staggering $2.7 billion for the Angels. To put this into perspective, this figure surpasses the MLB record of $2.42 billion, which Steve Cohen paid for the New York Mets in 2020.
Rising Values Across the Board:
But Moreno’s potential windfall is just a snapshot of the larger story. The average value of an MLB team has surged by 12% in the current year, now resting at an impressive $2.32 billion.
In the 2022 season, MLB witnessed an unprecedented 7.8% surge in revenue (net of stadium debt service), reaching an all-time high of $10.3 billion. This remarkable achievement was driven by a 64% spike in ticket revenue, including postseason and spring training, which hit $2.4 billion. Remember, the previous year started with nearly all ballparks operating under capacity restrictions. Additionally, premium seating revenue, including suites and club seating, saw a phenomenal 35% increase, totaling $1.16 billion.
Top 10 Most Valuable Franchises in MLB (2023):
In conclusion, while regional sports networks face economic challenges, MLB franchises remain in a league of their own. The value of these teams continues to soar, defying the odds and demonstrating the enduring appeal of America’s favorite pastime.