Forbes Values Cubs at $2.2 Billion
On Wednesday, Forbes released its annual MLB Team Valuations and the Cubs ranked fifth for the second straight year.
According to Forbes, the Cubs are worth $2.2 billion up from $1.8 billion last year. The Cubs revenue was $340 million, a 12.6 percent increase from $302 million in 2014.
The Yankees topped Forbes list as it has done every year since 1998, the first time Forbes tracked values of MLB teams. The Yankees are worth $3.4 billion.
According to Forbes, the average MLB team is worth $1.3 billion, an increase of seven percent from last year. Five teams are worth more than $2 billion which is quite the contrast from two years ago when only five teams were valued at more than $1 billion.
Top 10 Most Valuable Franchises in MLB: Yankees ($3.4 billion), Dodgers ($2.5 billion), Red Sox ($2.3 billion), Giants ($2.25 billion), Cubs ($2.2 billion), Mets ($1.65 billion), Cardinals ($1.6 billion), Angels ($1.34 billion), Nationals ($1.3 billion) and Phillies ($1.24 billion).
Patrick Mooney reported the $2.2 billion “represents a 160 percent increase from October 2009, when the Ricketts family finalized the details of a leveraged partnership with Sam Zell’s Tribune Co. and acquired a piece of Comcast SportsNet Chicago.”
Opening Day payroll to field the Major League team will be around $150 million, which will be an all-time, franchise high for the Cubs.
Spending restrictions as part of the conditions of the sale to the Ricketts family run through the 2019 season, the same time as the current TV contracts with Comcast SportsNet, WGN-TV and ABC-7 expire.