Forbes released its annual MLB team valuations earlier this week, and while the Texas Rangers saw an 8% increase in their value after the franchise’s first World Series title, the team remains 12th among all MLB teams for the second consecutive year.
The Rangers dropped to the 12th spot last season, despite a 9% increase in value in 2022, and come into the 2024 season valued at $2.4 billion, up from $2.225 billion yet still trailing the in-state rival Houston Astros.
Forbes considers information from sports banks, league and team executives, and media rights experts, as well as public records, the future economic environment of the sport, past transactions, stadium and operations revenue and income, competitive balance taxes, and spring training and minor league expenses when creating its valuations.
Much of the Rangers’ increase in value comes from its playoff run, which resulted in claiming $38.8 million of an MLB record $107.8 million playoff pool, determined by ticket sales across the league and how far teams advance. However, the more significant majority was determined by the market in which the team plays.
The New York Yankees remain the most valuable MLB team, as they have since Forbes’ rankings began in 1998. New York is worth $7.55 billion — $2.1 billion more than the Los Angeles Dodgers. The Boston Red Sox, Chicago Cubs, and San Francisco Giants round out the top five, while the Dodgers and the Philadelphia Phillies saw the most significant increases in value at 14%.
The Miami Marlins are the least valuable MLB team, coming in with a $1 billion valuation, just behind the Oakland Athletics ($1.2 billion) and the Kansas City Royals ($1.23 billion).
While baseball saw a record $378 million in revenue per team in 2023, local media rights deals hindered the increase in overall franchise values. Several teams have had issues with their regional sports networks (RSNs) due to Diamond Sports Group, which owns Bally Sports, going bankrupt.
As a result, the Bally Sports networks could have disappeared, leaving some teams without a home after this season. However, Amazon stepped in.
Nonetheless, media rights accounted for nearly 48% of team revenue in 2023, leaving those teams to suffer. The Rangers were one of the teams tied to Bally Sports but still saw their value increase thanks to the playoff run.
