Padres team valued at $458M, ranks 20th of 30 MLB franchises - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Padres team valued at $458M, ranks 20th of 30 MLB franchises

Posted: Updated:

SAN DIEGO (CNS) - The Padres baseball team is valued at $458 million, ranking 20th among the 30 teams in Major League Baseball, Forbes magazine reported Wednesday.

The valuation represents a 13 percent increase over last year, but the hike wasn't enough to keep the Padres from slipping two spots in the annual rankings.

The San Diego team also ranked fourth among the five National League West clubs, only ahead of the Arizona Diamondbacks.

The local franchise is getting a financial boost via a lucrative 20-year television deal with Fox Sports, which began broadcasting the team's games last Saturday. Forbes said the fiscal prospects of the sport as a whole is being lifted by an infusion of TV cash.

The Padres' revenues of $163.2 million were 26th, and $23.2 million in operating income -- earnings before non-cash charges and interest expenses -- ranked 11th.

  • SportsMore>>

  • Serena Williams: Young boys need domestic abuse education

    Serena Williams: Young boys need domestic abuse education

    Friday, June 22 2018 12:34 PM EDT2018-06-22 16:34:37 GMT
    (Photo by Charles Sykes/Invision/AP). Professional tennis player Serena Williams appears at an event to launch a national street art campaign with Allstate Foundation Purple Purse to make domestic violence and financial abuse visible, at TicTail Market...(Photo by Charles Sykes/Invision/AP). Professional tennis player Serena Williams appears at an event to launch a national street art campaign with Allstate Foundation Purple Purse to make domestic violence and financial abuse visible, at TicTail Market...
    Serena Williams says young boys, and girls, need to educated about the dangers of domestic abuse. 
    Serena Williams says young boys, and girls, need to educated about the dangers of domestic abuse. 
  • Burger King says sorry for Russian World Cup pregnancy ad

    Burger King says sorry for Russian World Cup pregnancy ad

    Friday, June 22 2018 12:33 PM EDT2018-06-22 16:33:33 GMT
    (AP Photo/Gene J. Puskar, File). FILE- This Feb. 1, 2018, file photo shows a Burger King Whopper meal combo at a restaurant in the United States. Burger King says it’s sorry for offering a lifetime supply of Whoppers to Russian women who get pregnant f...(AP Photo/Gene J. Puskar, File). FILE- This Feb. 1, 2018, file photo shows a Burger King Whopper meal combo at a restaurant in the United States. Burger King says it’s sorry for offering a lifetime supply of Whoppers to Russian women who get pregnant f...
    Burger King says it's sorry for an ad in Russia offering a lifetime supply of Whoppers to women who get pregnant from World Cup players. 
    Burger King says it's sorry for an ad in Russia offering a lifetime supply of Whoppers to women who get pregnant from World Cup players. 
  • AP source: Hornets agree to trade Howard to Nets for Mozgov

    AP source: Hornets agree to trade Howard to Nets for Mozgov

    Friday, June 22 2018 12:28 PM EDT2018-06-22 16:28:24 GMT
    Person familiar with situation says Charlotte Hornets agree to trade center Dwight Howard to Brooklyn Nets for center Timofey Mozgov, 2 future second-round draft picks. 
    Person familiar with situation says Charlotte Hornets agree to trade center Dwight Howard to Brooklyn Nets for center Timofey Mozgov, 2 future second-round draft picks. 
Powered by Frankly
All content © Copyright 2000 - 2018 Midwest Television, Inc. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.