For those that didn't know, Forbes recently released their Forbes Valuations of the 30 Clubs in MLB. I'm not going to delve into the legitimacy of their numbers, we will just assume that the data presented is well-researched and correct. Here is a look at their 2010 report to give you an idea of their format and what they report:
There are some footnotes that you can find an explanation for at the link above, the Google Doc, or my workbook: Forbe's Valuations
.
The workbook looks at 2006 - 10, while the Forbe's link goes back further. Here's a look at the Rays Current Value in millions for each of the years I looked at:
| Team |
2006 |
2007 |
2008 |
2009 |
2010 |
Avg. |
| Tampa Bay Rays |
209 |
267 |
290 |
320 |
316 |
280 |
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Let's see that in terms of Y-Y growth as well as 2006 - 10 growth:
| Team |
2006-07 |
2007-08 |
2008-09 |
2009-10 |
2006-10 |
| Tampa Bay Rays |
28% |
9% |
10% |
-1% |
34% |
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It should be noted that the Rays checked in with the 4th highest growth rate from 2006 - 10, trailing only Minnesota (48%), the Chicago Cubs (39%), and the Los Angeles Dodgers (35%). That shouldn't be completely surprising since we did have the lowest team value at the start of this analysis at $209M. Here's a look at every team's Current Value growth in the same format:
| Team |
2006-07 |
2007-08 |
2008-09 |
2009-10 |
2006-10 |
| Minnesota Twins |
33% |
14% |
9% |
14% |
48% |
| Chicago Cubs |
32% |
8% |
9% |
4% |
39% |
| Los Angeles Dodgers |
31% |
10% |
4% |
1% |
35% |
| Tampa Bay Rays |
28% |
9% |
10% |
-1% |
34% |
| Milwaukee Brewers |
22% |
15% |
5% |
1% |
32% |
| Chicago White Sox |
21% |
16% |
2% |
4% |
30% |
| New York Yankees |
17% |
9% |
15% |
7% |
29% |
| Los Angeles Angels of Anaheim |
17% |
16% |
2% |
2% |
27% |
| Boston Red Sox |
17% |
13% |
2% |
4% |
25% |
| Oakland Athletics |
25% |
11% |
-1% |
-8% |
25% |
| Kansas City Royals |
18% |
7% |
4% |
9% |
24% |
| Detroit Tigers |
22% |
14% |
-9% |
1% |
23% |
| New York Mets |
22% |
12% |
11% |
-36% |
21% |
| Arizona Diamondbacks |
11% |
12% |
3% |
-3% |
18% |
| Colorado Rockies |
6% |
17% |
1% |
3% |
17% |
| Florida Marlins |
8% |
5% |
8% |
14% |
17% |
| Toronto Blue Jays |
20% |
2% |
0% |
-8% |
16% |
| Cincinnati Reds |
12% |
10% |
1% |
-3% |
16% |
| San Francisco Giants |
12% |
8% |
-5% |
3% |
13% |
| Philadelphia Phillies |
8% |
5% |
3% |
8% |
13% |
| Texas Rangers |
3% |
13% |
-2% |
11% |
13% |
| Pittsburg Pirates |
10% |
7% |
-1% |
0% |
11% |
| Atlanta Braves |
13% |
9% |
-10% |
1% |
11% |
| St. Louis Cardinals |
7% |
5% |
0% |
0% |
9% |
| Cleveland Indians |
3% |
15% |
-4% |
-2% |
9% |
| San Diego Padres |
4% |
5% |
4% |
2% |
8% |
| Baltimore Orioles |
10% |
1% |
1% |
-6% |
7% |
| Houston Astros |
6% |
5% |
-4% |
2% |
7% |
| Seattle Mariners |
2% |
7% |
-9% |
3% |
3% |
| Washington Nationals |
2% |
3% |
-12% |
-5% |
-3% |
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I also looked at this in much the same way from the Revenue-side. Here's the Rays:
| Team |
2006 |
2007 |
2008 |
2009 |
2010 |
Avg.
|
| Tampa Bay Rays |
116 |
134 |
138 |
160 |
156 |
140.8 |
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And the Revenue-growth rate for all teams, where the Rays checked in at 22nd:
| Team |
2006-07 |
2007-08 |
2008-09 |
2009-10 |
2006-10 |
| New York Yankees |
9.0% |
8.3% |
14.7% |
17.6% |
59.2% |
| Minnesota Twins |
14.9% |
13.7% |
6.0% |
2.5% |
42.1% |
| New York Mets |
11.3% |
8.3% |
11.1% |
2.7% |
37.4% |
| Chicago Cubs |
10.1% |
8.6% |
11.7% |
2.9% |
37.4% |
| Tampa Bay Rays |
15.5% |
3.0% |
15.9% |
-2.5% |
34.5% |
| Kansas City Royals |
5.1% |
6.5% |
9.2% |
8.4% |
32.5% |
| Philadelphia Phillies |
4.0% |
4.9% |
12.5% |
7.9% |
32.4% |
| Los Angeles Dodgers |
11.6% |
6.2% |
7.6% |
2.5% |
30.7% |
| Milwaukee Brewers |
9.9% |
9.7% |
9.5% |
-1.2% |
30.5% |
| Los Angeles Angels of Anaheim |
12.0% |
7.0% |
6.0% |
2.4% |
29.9% |
| Boston Red Sox |
13.6% |
12.4% |
2.3% |
-1.1% |
29.1% |
| Detroit Tigers |
16.4% |
1.8% |
7.5% |
1.1% |
28.8% |
| Washington Nationals |
-0.7% |
6.3% |
20.3% |
0.0% |
26.9% |
| Colorado Rockies |
4.1% |
11.9% |
5.3% |
2.8% |
26.2% |
| Chicago White Sox |
10.2% |
11.6% |
1.6% |
-1.0% |
23.6% |
| Cincinnati Reds |
6.6% |
10.3% |
6.2% |
-2.9% |
21.2% |
| Florida Marlins |
2.5% |
4.9% |
8.6% |
3.6% |
21.0% |
| Toronto Blue Jays |
15.4% |
1.9% |
7.5% |
-5.2% |
19.9% |
| Arizona Diamondbacks |
6.2% |
7.1% |
7.3% |
-2.8% |
18.6% |
| St. Louis Cardinals |
11.5% |
5.4% |
0.5% |
0.0% |
18.2% |
| Texas Rangers |
1.3% |
11.0% |
2.3% |
2.3% |
17.6% |
| San Francisco Giants |
7.6% |
7.1% |
-0.5% |
2.6% |
17.5% |
| Pittsburg Pirates |
9.6% |
1.5% |
3.6% |
0.7% |
16.0% |
| Oakland Athletics |
9.0% |
5.5% |
3.9% |
-3.1% |
15.7% |
| Cleveland Indians |
5.3% |
14.6% |
0.0% |
-6.1% |
13.3% |
| Baltimore Orioles |
1.3% |
5.1% |
4.8% |
-1.7% |
9.6% |
| Atlanta Braves |
6.4% |
8.7% |
-6.5% |
1.1% |
9.3% |
| Houston Astros |
6.4% |
4.9% |
0.5% |
-2.6% |
9.2% |
| Seattle Mariners |
1.7% |
6.6% |
-2.6% |
1.1% |
6.7% |
| San Diego Padres |
1.3% |
4.4% |
4.2% |
-9.8% |
-0.6% |
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One thing that I have not looked at as in-depth is the Debt/Value ratio, where the Rays are consistently under 20%, something you can't say for all the teams. Anyone care to hypothesize on why our management doesn't leverage our capital as much as most of the other teams? I hope you enjoyed this and I really hope that someone that is more financial-astute takes the time to see what other information they can glean out of these spreadsheets that I've created.
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