ARLINGTON (CBSDFW.COM) — Ten Major League Baseball teams are valued at over $1 billion, according to Bloomberg. And for the first time ever, the Texas Rangers are among them.
A recently released study puts the value of the Rangers at $1.01 billion, the 10th highest in MLB.
The team had revenue of $260 million in 2012, the 9th highest total in the league. By comparison, the Yankees led the way with $570 million in revenue, while the Rays brought in a league-low $170 million.
The Rangers’ total revenue factors in estimated gate receipts ($79 M), concession sales ($22 M), parking ($6 M), and media rights ($81 M), among other items.
Attendance numbers helped the valuation. For the second consecutive year, the franchise drew over three million fans to the Ballpark in Arlington in 2013.
The team’s value is also boasted by a new television contract signed in 2010, which will net $80 million per year following the 2014 season.
It wasn’t all positive in 2012. As part of the collective bargaining agreement, Texas paid out $15 million in revenue sharing in 2012.
On average, the value of MLB franchises increased by 35 percent year-over-year, according to Bloomberg. One reason: the Los Angeles Dodgers sold for a reported $2.15 billion in 2012 — 54 percent more than prevailing estimates.
The Yankees (3.28 B), Dodgers (2.10 B), Red Sox (2.06 B), Mets (2.05 B) and Cubs (1.32 B) made up the top five.
Though the value of Texas is on the rise, the Dallas Cowboys remain the richest franchise in Texas — and by a lot. A similar study released in August placed the value of the Cowboys at $2.3 billion, the highest in the NFL.
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