Inside the Article:
According to Forbes' annual ranking of franchise values, the Detroit Tigers are currently worth $1.45 billion, which is only 21st among the 30 teams in the league. Moreover, the Tigers' value increased by just 4 percent from a year ago, in contrast to the average increase of 12 percent for MLB teams. Forbes also estimates that the Tigers lost $29.5 million in 2022, ranking fifth in the league in losses. This disappointing performance may impact the team's future operations and financial prospects.
Key Points:
- The Detroit Tigers' value is worth $1.45 billion, ranking 21st among 30 Major League Baseball teams.
- The team's value only grew by 4 percent from a year ago, compared to the average of 12 percent for other MLB teams.
- Forbes estimates that the Tigers lost $29.5 million in 2022, making them one of the five teams with the highest losses in the league.
- The New York Yankees top Forbes' list with a valuation of $7.1 billion, while the Miami Marlins are valued at $1 billion.
- The Tigers' parent company, Diamond Sports Group, recently filed for bankruptcy.
- The Tigers signed only two major-league free agents this winter — pitchers Matthew Boyd and Michael Lorenzen — for about $10 million apiece.
Why it Matters for the Detroit Tigers
After cutting payroll for years, the Tigers' owner Chris Ilitch allowed former general manager Al Avila to open up the team's pocketbook on a couple of top free agents as they signed SS Javier Baez and SP Eduardo Rodriguez, but both players underperformed. Now under new team president Scott Harris, the Tigers have taken a more conservative approach in the offseason as the team's payroll is currently in the bottom third of Major League Baseball.
Valuation By the Numbers
- Detroit Tigers' current valuation: $1.45 billion
- Valuation ranking among MLB teams: 21st out of 30
- Valuation growth from last year: 4 percent
- Average valuation growth for MLB teams: 12 percent
- Estimated losses for the Detroit Tigers in 2022: $29.5 million
