Forbes.com has released their annual list of Major League Baseball team valuations, and let’s just say it doesn’t paint a pretty picture for the Rays.
According to Forbes.com, the Rays franchise is now worth $323 million, down 2.4% from a year ago. Of the 30 teams in Major League Baseball, the Rays were one of only two teams to lose value in the past year. The other, the New York Mets (down 4%), are a team that has an ownership group that is in such dissaray, they needed to borrow money from the league.
But more importantly, if we track the value of the franchise under since Stuart Sternberg took over, the growth of the team has reached a screeching halt.
In the first four seasons under Sternberg, the team increased 81.8% in value, to $320 million. But in the next three years, the team’s value has only increased 0.9%…