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The value of the Texas Rangers has grown 8% in the past year, after the team won Major League Baseball's World Series for the first time, according to Forbes.
The magazine recently released its 2024 MLB Valuations and the Rangers clocked in at roughly $2.4 billion as of March.
The 8% jump outpaced the league average of 4% and ranked the Rangers No. 12 in Forbes' list, unchanged from last year and right behind the Houston Astros.
That came amid stagnating team valuations — it was the first time average team values grew at 4% or less since 2010, except for the 2021 list, after the 2020 season was impacted by Covid-19. Forbes linked the slowing valuation growth to challenges with local media deals, as regional sports networks face financial pressure.
Rangers games are carried by Bally Sports Southwest, despite its parent company, Diamond Sports Group, going through the bankruptcy restructuring process, WFAA reported.
While growth in MLB team values stagnated — 13 teams had no change in value from the previous season — revenue rose 10% to an average of $378 million per team, the steepest increase since 2015, Forbes said. That was driven by record-high proceeds from tickets, sponsorships, media and licensing in 2023. Operating income increased just 6%, however, due to higher spending on players, technology and analytics.
The Rangers generated revenue of $425 million, according to Forbes, and had operating income of $12 million.
Forbes noted that the Rangers players were beneficiaries of the World Series run, with a MLB postseason record playoff pool of $107.8 million. A full playoff share was worth more than $505,000, according to the magazine.
Forbes noted in its methodology that the rankings are compiled using sources such as sports bankers, team and league executives public documents and media rights experts.
