The Philadelphia Phillies are the seventh most valuable team in Major League Baseball for the second consecutive year at a value of $3.1 billion, according to the latest Forbes rankings.
The team’s valuation rose 6 percent from last year and saw an 11 percent annualized change.
The valuation breakdown are as followed:
- Market – 45.6 percent at $1.415 billion
- Stadium – 23.3 percent at $526 million
- Sport – 17 percent at 526 million
- Brand – 14.1 percent at 436 million
The Phillies raised about $500 million last November after it gained three new investors.
“With additional investment from Philadelphia’s managing partner, John Middleton, and minority partner Stanley Middleman, the capital raised just under $600 million,” Forbes writes.
While it hasn’t been confirmed what the additional capital will be used for, speculation include using it to sign high-impact free agents, potential upgrades at Citizens Bank Park, and renovations for the team’s spring training complex in Clearwater, Florida.
By Forbes‘ estimations, the MLB’s 30 teams on average carry about $2.6 billion in value. This is an 8 percent increase from last year.
The most valuable team in the MLB is the New York Yankees, whose current value is $8.2 billion, a 9 percent increase from last year.
Read more about how the Phillies fare among the MLB’s most valuable franchises in Forbes.
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