The Big Lead

Most valuable MLB team rankings reveal consensus from Forbes, Sportico—except on the Mets

By J.P. Hoornstra

Feb 19, 2021; Tampa, Florida, USA; New York Yankees general manager Brian Cashman and owner Hal Steinbrenner look on during spring training workouts at Yankees Players Development Complex.
Feb 19, 2021; Tampa, Florida, USA; New York Yankees general manager Brian Cashman and owner Hal Steinbrenner look on during spring training workouts at Yankees Players Development Complex. / Kim Klement-Imagn Images
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The New York Yankees are the most valuable team in Major League Baseball, according to the new rankings released this week from both Forbes and Sportico.

What about the "other" New York team? That depends on who you ask.

Both outlets are in the same ballpark (pun intended) when it comes to their valuations of the top five teams: the Yankees ($8.39 billion for Sportico, $8.2 billion for Forbes), Los Angeles Dodgers ($7.73 billion for Sportico, $6.8 billion for Forbes), Boston Red Sox ($6.03 billion for Sportico, $4.8 billion for Forbes), Chicago Cubs ($5.69 billion for Sportico, $4.6 billion for Forbes), and San Francisco Giants ($4.2 billion for Sportico, $4 billion for Forbes).

Not until the No. 6 team on the list is there any disagreement.

Forbes valued the Mets at $3.2 billion, noting the franchise operates at a $268 million loss after a winter of wild free agent spending by owner Steve Cohen. Sportico ranks two National League East teams — the Atlanta Braves (sixth, $3.71 billion) and Philadelphia Phillies (eighth, $3.39 billion) — higher than the Mets (ninth, $3.11 billion).

All of these figures represent a best estimate of what the team would sell for if 100 percent of its assets were transferred to a new owner. Only one team has actually been sold in the last four years to a new majority owner: David Rubenstein’s $1.725 billion purchase of the Baltimore Orioles last year.

Even within the industry, estimates will vary. The Athletic reported this week that the Minnesota Twins are seeking a buyer on board with "at least" a $1.7 billion valuation of the franchise. The firm leading the sale process requested groups submit proposals with intent of interest last week, "with multiple parties clearing that bar," according to sources cited by Dan Hayes, Ken Rosenthal and Britt Ghiroli.

But another prospective buyer valued the team and its assets at $1.5 billion. While these numbers aren't gospel, they're an interesting reflection of how healthy the industry is as a whole — and how hard it is to buy a Major League Baseball team in 2025.

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