Forbes: Mets’ Value Drops 13 Percent; Yankees Top List

NEW YORK (WFAN/AP) — Forbes’ annual report finds the average value of Major League Baseball teams has increased 7 percent from last year to an all-time high of $523 million. That’s great news, especially for the Yankees. Not so much for the Mets.

The Yankees, worth $1.7 billion, lead the way for the 14th straight year since Forbes began valuing franchises in 1998. New York holds a firm 86% edge in value over No. 2 Boston.

Only three teams’ values didn’t increase: the Mets, San Diego Padres and Cleveland Indians.

The Mets lost 13 percent of their worth amid legal and debt problem. Listed by Forbes at $858 million last year, the franchise is now valued at $747 million.

Their struggles on-field contributed to an attendance drop of 600,000 fans last season, which, according to Forbes, resulted in an estimated loss of $6.2 million in operating expenses. That’s before taxes, interest, depreciation and amortization.

Hounded by a multimillion dollar lawsuit filed by the trustee trying to recover money for victims of the Bernard Madoff scheme, the Mets acknowledged that they received a loan in November to help cover expenses.

“We said in October that we expected to have a short-term liquidity issue,” the team said in February. “To address this, we did receive a loan from Major League Baseball in November. Beyond that, we will not discuss the matter any further.”

“The whole thing is very unpleasant,” former MLB commissioner Fay Vincent said after the loan became public. “No one likes to see a team in trouble. It’s a sad occasion.”

Citing two unidentified people briefed on the club’s finances, the New York Times reported earlier this month that the Mets can’t count on receiving any more money from the commissioner’s office to help cover expenses.

“Baseball’s decision to restrict the Mets’ access to further emergency funds could leave the team’s beleaguered owners … without their best remaining source of cash as they struggle to maintain control of the team,” the paper reported.

The Mets announced in January they were looking to sell a non-controlling interest in the team of 20 to 25 percent to raise several hundred million dollars. Wilpon insisted then — and insists now — his family would remain in control of the team.

The Texas Rangers’ value increased 25 percent as new ownership took over the franchise and it reached its first World Series.

The Boston Red Sox were second at $912 million in the report released Wednesday. The Los Angeles Dodgers, Chicago Cubs and Mets round out the top five.

What does it all mean for the Mets? Sound off in the comments below…

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

  • brian

    I’m a met fan will always be a met fan regardless sat through the good times and the bad,and will continue to do so. What kind of person would I be if decided to root for another team? So to all you band wagon types I salute you with a bronx cheer (ha ha ha)



  • dabooch

    Common now the numbers are all made up, who is going to pay $1,700,000,000 for the Yankees? With Jete’s salary cut, he would have to save up for another hundred years…it was easier for a landscaper to move on the Yankee fortune.

  • Kevin

    As a Mets fan the Wilpons should sell the team outright, God knows they haven’t made a good decision in the past 6-8 years. Hiring a new manager doesn’t mean an thing when the owners SUCK!

    • Johnson

      This owner has put a ton on money into the Mets. This year’s payroll will be the same as it was last year, $150 Mil. Over the last 10 years the Mets payroll has been the highest in the NL. When the Mets signed Beltran, Mets fans jumped for joy, add him with Reyes & Wright they said & WE will now win it. Mets traded for & signed Santana, all I read on this site was, WE will now win the WS, he’s who WE needed.

      Then they signed K-Rod, every Mets fans wrote this is the year WE win it all, we’re the Best team in baseball. People disputed that, & Mets fans went crazy in anger. The problem with Mets fans is they’re never happy, always looking for a scapegoat when things go wrong & people are right. It starts with the players & in the Mets, other then Santana, they’re all over-rated.

  • Kevin the former Catholic

    maybe Dolan can buy the lowly Mets and really put a fork in them!
    He killed the Knicks.

  • Adowe Osman

    I thought there was a group of Saudi princes who wanted to buy the team in order to add some middle east flavor to America’s pastime. $800 million is pocket change to those guys.

    • Anette

      Karma baby, they got into bed with Citi Bank and they are paying the price. Cry baby, Cry! I don’t think they want to go that route again.

      • Hector

        One of the Saudi prince, Prince Alwaleed, already owns %6 of Citi Bank. since 1991, making him one the largest Citi Group (Citi Bank) shareholder.

  • Len

    The Yankees really are the class of professional sports. Part of the reason why is they are willing to spend on players:

    Get good players, the team becomes more valuable.

  • The Changeup

    Fast Ball down the pipe Now they owe the Madoff Fund More than the Team is Worth. Swung out and missed called strike 3 Yer outta there.

  • terpin hydrate

    The Wilponzi’s (name coined by WFAN’s Steve Summers) need to sell the team asap.

  • Craig

    It’s time for the Wilpons to go. Take Saul Katz and that blank stare in-over-his-head kid with you. What they have done to our franchise is a disgrace.
    We’ll wait you out and we’ll be here long after you go.
    No more tickets, no more Mets merchandise until they sell to competent ownership the fans deserve.

  • Craig Morgan

    how in the world do you get 600,000 less fans when you have a brand new stadium. oh yeah put an inferior product on the field and charge exhorbinant prices. 2$20 to park to see a last place team is not going to make me want to go. neither are $9 hot dogs $10 beers and a team that doesnt hustle.

    • Frank

      600,000 less fans. What happened? I thought Mets fans were the most loyal fans in New York. no matter what, they stick with their team. I guess this just goes to show its all talk. When the tough gets going, Mets fans are nowhere to be found, but jump right back on the Mets bandwagon the moment the Mets show some life. .

      • GreatToBeTheKings

        Hey Tommy Girl, stick with your LOSER Mets, even with those few expensive club seats that you saw empty the Yankee still drew close to 4 million fans that first year. Not like the Mets who in June, July & August would always claim there were 40,000 attending fans when you could see half of Citi Field empty

        Don’t be so envious of a team you have always wish & wanted your Mets to be, but can’t & never will be. Envy, Despair & Wrath are three of the 7 deadly sins you have.

      • Tommy

        I seem to remember the club seats at the new Yankee Stadium were so empty the first year they were giving them away free so it didn’t look so bad on TV.

      • Frank

        Yeah, that’s just an excuse you’re using. Attendance went up for every team in the majors with the exception of the Indians & Padres & the Mets dropped 13% & your using the owner made us do it excuse. You think the Mets tickets prices are the only ones that are high, every year tickets prices go up for every team not just the Mets.

        Yankees attendance went up 6%, why is that? when the Yankees tickets are a bit more then the Mets, not much more, but more. So you’re supporting your team by watching them on TV with your friends, nice. Stop with the excuses because the facts are there, Mets fans did not attend games last & will not again. You’re a fan of the team; stick with them by supporting them, period. I attended 10 games last, oh & one, as I do every year, at Citi Field, so I helped support your team as well.

      • thetrickster

        Frank.. I’m a bigtime Mets fan and I had purchased ticket packs for 6 years straight but last year they decided to charge us way more and give us less… oh and put us in the very last row of the stadium. The reason Mets fans didn’t attend games last year is because we felt the ownership made numerous poor decisions on the field managing health issues and more importantly for fans in ticket prices. Where’s the loyalty for people who have been buying ticket plans for years? Then you shove them in the last row of the stadium so you can charge premium prices for lower levels. It was ridiculous. I still watched them on TV but my friends and I decided to hit the ownership where it hurt most and a lot of fans also went this route. Claiming you know about Mets fans’ situations (as a likely Yankee fan) is ignorant. How many Yankee games did you watch last year?

  • rob

    the wilpons should sell the whole team,they brought this upon the beginning of scandle they said it will have no affect on the team,now they dont have pot to pee in,or window to throw it out.wilpons are liars,sell the team.dont go to a met game so they lose their underwear,they already lost their shirt.then they will sell the team.boycott the mets,as long as the wilpons own the mets they will be a below 500 team,dont buy mets tickets

  • Night Train

    The Yankees are worth $1.7 billion, Mets are worth just $747 million. The Yankees are worth close to $1 BILLION dollars more than the Mets. Someone there is doing something right & someone here is doing something wrong.

    Steinbrenner always knew what he was doing. A $10 million dollar investment turned into a gold mine. $1.7 billion dollars, 7 WS Championships, most recognize team in all of sports. No wonder Mets fans are so jealous.

    • Yankee Pride

      Good baseball decisions lead to good business decisions which lead to better baseball decisions which in turn lead to better business decisions.

      It should not come as a surprise to anyone that when an owner reinvests into the team and fields a good product success will follow. The team will win, the fans will come and spend and the team will continue to improve.

  • thahman

    I disagree about the the Mets will have the worst record in baseball, as that distinction will always go to the Pirates or Royals. However I wish that the Wilpons will face reality & sell the team ! they have damaged the Mets’ visibility as they knowingly/unknowingly dealt with a crook named Madoff !

  • tpenn


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