The Dodgers are worth $2.1 billion and are generating $450 million in annual revenue, according to a new analysis by Bloomberg. The report — which comes with a nifty infographic comparing the values of all 30 teams — lists the Dodgers’ franchise value second to that of the New York Yankees among among MLB teams.
Writes Peter Schwartz:
The Dodgers’ $2.1 billion valuation is based on information provided by two individuals involved with the transaction who asked not to be identified because the details were private.
Guggenheim Baseball Management LP, a Los Angeles-based company led by financier Mark Walter, paid $2 billion for the team and Dodger Stadium, plus $150 million to form a real estate joint venture with Frank McCourt, the team’s previous owner. In exchange, McCourt transferred ownership of the 261 acres that surround the ballpark, most of which are parking lots, to the partnership.
In the short term, it appears to be a sound investment. Also from Schwartz:
Since the sale, the Dodgers’ annual revenue has risen by 38 percent to $450 million, according to a person with knowledge of team finances. Attendance also has gone up by 13 percent to about 3.7 million fans this season, the most in baseball, according to MLB.
Bloomberg’s valuation amounts to roughly a break-even purchase price about 18 months after Guggenheim completed its purchase of the team in bankruptcy court. Guggenheim’s own valuation of the team is likely higher. According to one report co-owner Todd Boehly placed the Dodgers’ value at $3 billion as recently as last December.