Minnesota Twins are worth what?
TheYankees they're not: The Minnesota Twins are worth $356 million, according to some new numbers from Forbes magazine. That's up from $44 million when Carl Pohlad bought the team in 1984.
Sound like a lot of money? Consider this: The Yankees top the Forbes rankings with a value of $1.6 billlion, up from the $10 million George Steinbrenner paid for the team in 1973. Here are the Top 10 teams; the Twins are ranked No. 16:
- New York Yankees: $1.6 billion
- Boston Red Sox: $870 million
- New York Mets: $858 million
- Los Angeles Dodgers: $727 million
- Chicago Cubs: $726 million
- Philadelphia Phillies: $537 million
- Los Angeles Angels: $521 million
- St Louis Cardinals: $488 million
- San Francisco Giants: $483 million
- Chicago White Sox: $466 million
And, here's the Forbes breakdown for the Twins. Note that their value is based on their home field being the Metrodome, not the fancy new Target Field:
Carl Pohlad died in January and left the Twins to his three sons, with James running the day-to-day operations. During his 25-year ownership tenure Pohlad built up a reputation as a cheapskate when it came to player spending for not using more of his personal fortune for high-priced talent. Yet relative to his team's revenues, Pohlad was a free-spender. The Twins spent 63% of their revenues on players over the past five years compared to 57% for the average MLB team. The Twins revenues will get a big boost next year when they open a new 42,000-seat stadium that will be paid for largely through a Hennepin County sales tax increase. The stadium is expected to have 60 luxury suites and 4,000 club seats, two revenue streams where the Twins are near the bottom of baseball currently.