Red Sox Likely the Most Profitable MLB Team in 2024
In keeping with its Opening Day tradition, Forbes released its valuations of all 30 MLB clubs. According to Forbes’ analysis, the Boston Red Sox are a significant revenue-driving team.
In its report, Forbes stated that the Red Sox generated $574 million in revenue with during its 81-81season last year. This figure placed the team only fourth in total revenue behind the Dodgers, Yankees, and Cubs. Since each of these teams had higher payrolls than the Red Sox, the Red Sox realized much greater profit. In fact, according to Forbes, the Red Sox led baseball in profit last season, generating $120 million in operating income. That’s approximately 50% greater than the next most profitable team, the Chicago Cubs, which received $81 million.
In a report for OvertheMonster.com, Dan Secatore is quick to point out that these figures are only estimates, not authoritative fact. Secatore also explained that the Forbes figures don’t account for revenue obtained from real estate. That point is especially pertinent to any discussions about the Red Sox. The team is currently involved in a $1.6 billion project to redevelop much of the land adjacent to Fenway Park.
“The real value in owning a baseball team comes not from the year-to-year revenues, but from the growth in the overall value of the business,” Secatore added. “Fenway Sports Group is sitting pretty there. After buying the team for just $380 million in 2002, FSG now owns a team valued at $4.8 billion.”
He went on to say, “Buying a baseball team is essentially purchasing a license to collect the profits generated by a publicly-subsidized legal monopoly. That’s not too shabby, considering that we literally do not need team owners at all.”
