Forbes recent released its annual MLB franchise valuations. The Phillies are valued at $2.3 billion, a 12% increase from the 2021 season ($2.05 billion). Only the Cardinals, Mets, Giants, Cubs, Red Sox, Dodgers and Yankees are valued more than the Phillies.
The 12% jump in year-to-year valuation is tied with the Braves and Guardians for the sixth-highest increase in MLB. The Rangers saw the biggest increase (15%) while the Orioles (-4%) were the only team to decrease in value from 2021.
Forbes also notes that the Phillies, for the second consecutive season, were one of 10 teams to operate at an accounting loss in 2021. The franchise should bounce back considerably from the last two pandemic seasons considering that stadiums are likely to operate at full capacity for the entirety of 2022.
In MLB, local television revenues separate the “big-market teams” from the “small-market teams.” The Dodgers and Yankees are the undisputed power houses when it comes to local revenue, but the Phillies are apparently not that far behind. The Phillies, per Forbes, finished third behind the Dodgers and Yankees in local cable television rights fees in 2021 at $110 million. The Angels were a close second at $109 million. The Dodgers lead the pack at $189 million. This does not include national television revenue, which is expected to increase to a figure of around $65 million in 2022.
The Phillies are entering year seven of a 25-year, $2.5 billion local television contract with NBC Sports Philadelphia. The deal also gave the Phillies a 25% equity stake in the network along with a slice of the advertising revenue pie.
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