The St. Louis Cardinals, MLB’s profit leader!
The St. Louis Cardinals are Major League Baseball’s most profitable team according to Forbes annual report. Bernie Miklasz of the St. Louis Post Dispatch originally broke the news of the annual report published by Forbes. The report estimates the value of each of the 30 major-league baseball franchises.
What does this mean? The St. Louis Cardinals operate with a income of $73.6 million which is earnings before interest, taxes, depreciation and amortization for those of you that are curious. It also means they have thrived under the ownership of the Dewitt’s since they purchased the ballclub in 1995. Despite the Cardinals playing in one of the smaller markets in baseball, Forbes feels that in the grand scheme of things it is about more than how much a team spends or what name goes on the back of a uniform.
"“Despite playing in one of the smallest markets, the Cardinals are MLB’s sixth-most valuable team, worth $1.4 billion. During the 19 seasons Bill DeWitt has owned them, the Cardinals have posted a winning record 16 times and have been in four World Series, winning the title in 2011 and 2006. Since moving into their new stadium in 2006 the team has never finished below sixth in attendance and has placed second the past two seasons. The Cardinals also pull in baseball’s highest local television ratings. And with Ballpark Village, the Cardinals have made the area near Busch Stadium a destination place for people looking for dining and entertainment.”"
In terms of figures, the St. Louis Cardinals are 6th in revenue at $294 million, while their overall value as a franchise is $1.4 billion which is exceeded only by the likes of the NY Yankees ($3.2 billion), LA Dodgers ($2.4 billion), Boston ($2.1 billion), San Francisco ($2 billion and Chicago Cubs ($1.4 billion).
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This may come as no surprise despite the dominance of the National Football League, but the St. Louis Cardinals actually have a higher franchise value than the franchise less than ten minutes from them, the St. Louis Rams, who according to a Forbes report last season, have a value of $930 million.
It clearly shows the commitment level of this legendary franchise and that is about more than just making profit, but also about hands-on ownership, (the Dewitt’s have St. Louis ties), a great responsibility to the community and most importantly the fans. This is supported by the yearly attendance consistently topping more than 3 million annually. Expect more of the same for many years to come. Thanks for reading!
Jun 7, 2014; Toronto, Ontario, CAN; St. Louis Cardinals starting pitcher Shelby Miller (40) is greeted by team mates after throwing a complete game in the Cardinals 5-0 win over Toronto Blue Jays at Rogers Centre. Mandatory Credit: Dan Hamilton-USA TODAY Sports