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.