Padres News: Padres Worth $890 Million
What a difference potential can make for a team’s value. Well, that TV contracts and a general rise in industry value for the brand of Major League Baseball.
According to Forbes Magazine, the Padres are valued at $890 million.
This year saw MLB franchises as a whole all rose over 20%. The average MLB franchise rose 48% year-over-year. Not bad for a sport that is supposedly dying, right?
This value puts the Padres at 19th among MLB teams, right between the Minnesota Twins (#18) and the Cincinnati Reds (#20).
Ron Fowler and the ownership group must be happy after buying the team in 2012 for $800M. Hopeful that valuation will only increase as winning becomes a part of the Padres culture as well. Winning sells after all.
The New York Yankees led the list of course, at $3.2 Billion, despite not making the playoffs but with a Derek Jeter farewell tour to compensate. The Los Angeles Dodgers were second with a nearly billion dollar drop-off from last year at $2.4 Billion.
It’s also interesting to note that the Dodgers generated $403M to the Padres $224M. Of course the Padres are hoping that increased ticket sales and merchandising will help increase that number; as well to help foot the bill for the increased payroll that has led to the talent infusion.
The Padres deal with Fox Sports San Diego of course, is a large part of that revenue number, as well as finally stabilized ownership after several years of flux.
While the Padres will likely never match the spending craze of the Los Angeles Dodgers, this off-season they certainly flexed their muscle in that category. They took a shot at Pablo Sandoval, Yasmany Tomas, and several others before landing James Shields in free agency. While missing out on some of those players hurt, the fact that the Padres were in the running at all was a brand new direction them.
Ticket prices are up for the Padres already, and with all the new popular players in town comes a whole new round of revenue from jersey sales. Matt Kemp, Wil Myers, and Justin Upton are sure to be seen on more backs this season.
Now it’s time to see what the Padres can do on the field to get the attendance level up and make good on all of the money that was spent by ownership.
A new video board in left field will help the already impressive fan experience at Petco Park and build up for when San Diego hosts the All-Star Game in 2016.
Just one week to go!
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