According to Forbes Major League Baseball team values are the highest they have ever been, despite all the consternation about the league’s finances after a pandemic-shortened season in 2020 had the league running at a loss. Per Mike Ozanian of Forbes:
“All told, MLB’s 30 teams lost $1.8 billion (in the sense of earnings before interest, taxes, depreciation and amortization) versus a profit of $1.5 billion in 2019. Revenue fell 65%, to $3.66 billon... but that didn’t stop team values from increasing to an all-time-high average of $1.9 billion this year, 3% more than a year ago.”
I don’t think it is surprising to any of us that baseball was able to rebound strongly. In a time of uncertainty, baseball was one of the surer bets. While surprising the financial comeback is not, it is still pretty extraordinary. In 2020 the St. Louis Cardinals were in the red $79 million. Even with that loss the team appraises 2% more than it did in 2020 at $2.245 billion. That puts the Cardinals as the seventh most valuable team behind the Yankees, Dodgers, Red Sox, Cubs, Giants, and Mets.
Just as we thought, baseball owners look like they are going to be okay and stand to make even more money after the current national media deals expire after the end of 2021.
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#stlcards have recalled Kodi Whitley and optioned Johan Oviedo after last night’s game— Jeff Jones (@jmjones) April 13, 2021