DENVER — After losing over 100 games for the first time last year, and a rocky 1-6 start this year (with a minus-34 run differential), the Rockies ballclub is still worth $1.5 Billion, according to recent Forbes estimates.
In its annual MLB team valuation rankings, Forbes has the Rockies notched as the 20th most valuable baseball team, which surprised some people due to their lack of success.
“What kind of surprises me about the valuation is that this club has not really fared very well on the field in the last several years. And they're in an incredibly challenging division,” said Eric Olson, director of the sport management program in the College of Business at UCCS.
“And yet, attendance is still high. People who are from out of town and want to visit, and this is a tourist town.”
According to ESPN, the Rockies averaged over 32,000 fans a game last year, which was good for 14th in the league of 30.
Still, the Rockies year-over-year growth was 0%. The league average was 4% growth in value. Colorado joined 12 other teams that saw no increase from last year.
The defending World Series champion Texas Rangers saw their value skyrocket 8% since their victory. But even if the Rockies turned things around and managed to become an on-field success, Olson doesn’t think that would translate to much in terms of higher valuation.
“People around the world buy Dodger caps, LA caps, Yankee caps, even if they don't know anything about baseball. The Rockies don't don't have that legacy,” Olson said.
The Rockies have a regional following with surrounding states, Olson added, but he doesn’t foresee anyone on the East Coast suddenly becoming a Rockies fan if they start winning more games.
Powerhouse teams like the Yankees and Dodgers saw significant income generated from local media rights in their respective markets. But last year also saw the fall of regional sports networks.
In Colorado, the Rockies saw AT&T SportsNet shut down last year. But the MLB has since announced a new streaming option for fans to watch all the Rockies games for a $100 season subscription.
The MLB revenue sharing model also helped poorer club teams, as noted by Forbes. With the 13 richest teams giving a combined $500 million to the 14 poorest teams.
Email Senior Reporter Brett Forrest at brett.forrest@koaa.com. Follow @brettforrestTVon X and Brett Forrest News on Facebook.
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