Major League Baseball’s (MLB) Arizona Diamondbacks ranked number 20 out of 30 in total team valuation. According to Forbes Magazine, the former World Series Champions have a team valuation of $1,150 million, which is far less than the 1.54 billion that MLB teams have been averaging.
The league as a whole is up at 19% in revenue while the 13-year old Arizona franchise has seen a decline. Viewership for Diamondbacks games have decreased 37%. This is the second largest year-over-year decline in ratings of any other baseball team.
Purchased in 2004 for $238 million, the franchise’s revenue hit $253 million. With an operating income of $47.2 million and player expenses hitting $111 million, receipts at the gate are only recovering $45 million. The average fan spends $31.
In January, the Diamondbacks filed a lawsuit against their stadium, Maricopa County Stadium. The stadium is almost 20 years old, and the baseball team claims that it is in dire need of improvements and repairs. The Maricopa County Stadium District assessed that $185 million worth of repairs are necessary.
The former World Series Champions believe the District is responsible for $135 million of the damage themselves. The D-Backs agreed to take on the bill if the license fee of the stadium is lowered, and as long as they are allowed to use the stadium for non-baseball events. The District turned down this proposition, claiming the team is trying to break their contract.
