Pirates valued at $1.32 billion, ranking 23rd in Forbes' annual list of MLB franchises

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Pirates valued at $1.32 billion, ranking 23rd in Forbes' annual list of MLB franchises

Kevin Gorman | Friday, March 25, 2022 5:27 p.m.

Christopher Horner | Tribune-Review

Pirates chairman Bob Nutting watches practice with team president Travis Williams (right) and general manager Ben Cherington during spring training at Pirate City in Bradenton.

The value of the Pittsburgh Pirates rose 3% to $1.32 billion, according to Forbes’ annual ranking of baseball franchise values.

The New York Yankees continue to rank first at $6 billion, followed by the Los Angeles Dodgers ($4.075 billion), Boston Red Sox ($3.9 billion), Chicago Cubs ($3.8 billion) and San Francisco Giants ($3.5 billion). The Miami Marlins ranked last at $990 million, the only major league franchise valued at less than $1 billion.

The Pirates, owned by the Nutting family, rank 23rd in MLB in team valuation, behind the Baltimore Orioles ($1.375 billion) and just ahead of the Cleveland Guardians ($1.3 billion).

Per Forbes, the Pirates have an estimated annual operating income of $64 million, which ranks on par with the Red Sox ($69 million) and Cubs ($68 million), but their $258 million in revenue is tied for 25th with the Chicago White Sox.

Only the Oakland A’s ($208 million), Toronto Blue Jays ($238 million), Miami Marlins ($240 million), Baltimore Orioles ($251 million) and Tampa Bay Rays ($252 million) generated less revenue.

The Pirates also had one of the lowest value changes. Miami’s didn’t change, remaining last at $990 million — making the Marlins the only team in baseball below $1 billion — and Baltimore’s went down by 4%, to $1.375 billion.

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