Forbes: Rangers’ Value Rises To $825 Million
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ARLINGTON (CBSDFW.COM) — The Texas Rangers have finished second in the AL West standings in each of the past two seasons. But in terms of value, they’re second to none within their division.
On the heels of a 10-year stadium naming rights deal with Global Life and Accident Insurance, the club is valued at approximately $825 million, according to a recent survey by Forbes.
The team’s value is up eight percent from 2013, just short of the league-wide average value increase of nine percent.
The Rangers’ 2013 revenue ranks ninth in MLB at $257 million.
Despite the rise in value, the team operated at a $4.9 million revenue loss in 2013. This figure does not take into account the naming rights deal secured this off-season.
The Los Angeles Angels ($775 M), Seattle Mariners ($710 M), Houston Astros ($530 M), and Oakland Athletics ($495 M) round out the AL West.
The Astros are one of only three teams, along with the Miami Marlins and New York Mets, whose value fell over the past year.
Houston enters the 2014 season with the league lowest payroll at an estimated $45 million. The team also lost significant revenue when Comcast SportsNet Houston filed for bankruptcy protection in February.
Five teams are worth at least $1 billion, according to the study: the New York Yankees ($2.5 B), Los Angeles Dodgers ($2.0 B), Boston Red Sox ($1.5 B), Chicago Cubs ($1.2 B), and San Francisco Giants ($1.0 B).
The Yankees join the Dallas Cowboys as the only other U.S. sports team valued at over $2.0 billion. The Cowboys are currently valued by Forbes at $2.3 billion.
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