Mariners 8th-most valuable franchise
Forbes team valuations are out. The team’s value didn’t go up much last year at all, but Forbes has them tied for 5th in revenue with $179m.
Value of the team? $428m.
I have some particular quibbles with the article and some of the conclusions, but let me just skip those and note this: for all the poor-mouthing the team does, they’re making money in two ways:
– the team’s profitable
– the value of the team continues to rise
A lot of the M’s whinging is like someone who owns a great stock — say it’s returned 10% on their investment annually — complaining that they’re only getting 2% dividends every year.
Now what’s really interesting about this is that two 90-loss seasons hurt them pretty badly: the value of the team didn’t go up that much since Forbes last looked at this. You can see that dropping attendance has had a real impact on the team’s finances. But if two years of horrible seasons means a 3% increase in value and $7m in the pocket, that’s not bad at all.
Update: Maury Brown’s got a nice article on what’s interesting in the Forbes numbers.