The Yankees are the most valuable franchise in MLB, while Expos, Marlins and Phillies saw the highest percentage increases from last year, according to FORBES' recently released annual MLB franchise valuations. The chart below details valuations, as well as operating income and revenue, for the '03 season. Club values are FORBES' estimates based on the most recent transactions and include revenue sharing. The valuations are based on current stadium deals (unless a new stadium is pending) without deduction for debt (except stadium debt). Here, operating income is EBITD for the '03 season. All figures listed are in millions (FORBES, 4/26 issue).
THE CHAMPS: FORBES' Nathan Vardi writes that the Marlins World Series title netted the team an extra $6M and increased the franchise's value by 27% to $172M. Accounting for the $37M Managing General Partner Jeffrey Loria "says he has put into the team for working capital, he is still about $100[M] ahead of where he started in baseball (not counting any exposure from lawsuits). Presumably, he can also put the team's current losses to good use, offsetting income from his art business" (FORBES, 4/26 issue).
| FORBES' '03 MLB VALUATIONS |
| RK | CLUB | VALUE | 1-YR%+/- | DEBT/VALUE | REV. | OPER INC. |
| 1) | Yankees | $832 | -2% | 14% | $238 | -$26.3 |
| 2) | Red Sox | $533 | 9% | 45% | $190 | $11.4 |
| 3) | Mets | $442 | -11% | 57% | $158 | -$19.3 |
| 4) | Dodgers | $399 | -11% | 105% | $154 | -$19.1 |
| 5) | Mariners | $396 | 3% | 29% | $169 | $17.0 |
| 6) | Braves | $374 | -12% | 8% | $156 | -$0.3 |
| 7) | Giants | $368 | -4% | 46% | $153 | $0.7 |
| 8) | Cubs | $358 | 7% | 11% | $156 | $8.3 |
| 9) | Astros | $320 | -2% | 17% | $128 | -$1.9 |
| 10) | Cardinals | $314 | 2% | 43% | $131 | -$11.1 |
| 11) | Rangers | $306 | -8% | 47% | $127 | -$28.5 |
| 12) | Orioles | $296 | -5% | 51% | $129 | $9.1 |
| 13) | Indians | $292 | -12% | 37% | $127 | $10.4 |
| 14) | Rockies | $285 | -6% | 35% | $124 | -$6.3 |
| 15) | Phillies | $281 | 18% | 64% | $115 | -$12.5 |
| 16) | D'Backs | $276 | 3% | 109% | $126 | -$15.2 |
| 17) | Padres | $265 | 17% | 59% | $106 | $4.9 |
| 18) | White Sox | $248 | 6% | 12% | $124 | $12.8 |
| 19) | Reds | $245 | 10% | 27% | $123 | $11.7 |
| 20) | Angels | $241 | 7% | 0% | $127 | -$5.5 |
| 21) | Tigers | $235 | -1% | 85% | $117 | $0.3 |
| 22) | Pirates | $217 | -3% | 41% | $109 | -$0.3 |
| 23) | Athletics | $186 | 8% | 32% | $110 | $11.2 |
| 24) | Brewers | $174 | -16% | 63% | $102 | $5.1 |
| 25) | Marlins | $172 | 27% | 41% | $101 | -$11.6 |
| 26) | Royals | $171 | 12% | 18% | $98 | $6.6 |
| 27) | Blue Jays | $169 | 2% | 0% | $99 | $0.0 |
| 28) | Twins | $168 | 14% | 54% | $99 | -$7.1 |
| 29) | D'Rays | $152 | 4% | 72% | $101 | $7.5 |
| 30) | Expos | $145 | 29% | 83% | $81 | -$8.3 |
|
| MLB AVERAGES | $295 | 3% | 44% | $129 | -$1.9 |
