Tampa Bay Rays move up in Forbes rankings
April 10, 2020 - The Tampa Bay Rays are valued at $1.05 billion in a new report from Forbes. That's a 4 percent increase from a year ago, Forbes said. The Rays are No. 28 among the 30 Major League Baseball teams in a ranking based on valuations, just ahead of the Kansas City Royals and Miami Marlins. In 2019, the Rays were ranked No. 29. While the Marlins continue to hold down the cellar spot, the New York Yankees, with a 2020 valuation of $5 billion, are ranked No. 1. The Yankees have topped the rankings every year since 1998. Team values are enterprise values (equity plus net debt) calculated using a multiple of revenue, according to Forbes. For the 2019 season, the Rays had $68 million in operating income on $264 million in revenue, Forbes said.