CNBC’s Official Major League Baseball Team Valuations 2025 represent current enterprise values — equity plus net debt — calculated using revenue multiples based on historical control transaction prices. Purchase prices reflect control stakes and account for payment structure and the value of a deal over time.
CNBC’s valuations include MLB Advanced Media, the league’s arm that oversees centralized sponsorships, online ticketing, MLB.TV, sports betting and licensing, as well as Baseball Endowment LP, or BELP, the league’s investment fund. Both MLB Advanced Media and BELP are equally owned by all 30 teams.
CNBC’s valuations are based on a team’s current stadium, unless there is an agreement in place for the team to move or get a new stadium. For example, the Athletics are valued at $2 billion because the team, which is set to play in Sacramento for the next three seasons, is expected to move into a new stadium in Las Vegas in 2028.
CNBC also adjusts its MLB-related figures to align with industry standards. For example, the Atlanta Braves reported $595 million in revenue for 2024, but CNBC lists $476 million. The discrepancy arises because the Braves report gross revenue for categories such as retail and concessions, whereas CNBC includes net revenue in accordance with MLB reporting practices. The Braves have offsetting expenses tied to gross revenue, so both the team and CNBC report the same figure for EBITDA, or earnings before interest, taxes, depreciation and amortization, of $6.6 million.
CNBC’s enterprise values and figures for revenue and EBITDA do not include the value of teams’ equity stakes in non-MLB businesses, such as regional sports networks or real estate holdings.
Revenue and EBITDA figures are for the 2024 season and are net of revenue sharing and playoff revenue allocated to players, umpires and the commissioner’s office. EBITDA is also net of competitive balance taxes. Figures for the Toronto Blue Jays are presented in U.S. dollars.
Sources for CNBC’s Official MLB Team Valuations 2025 include team owners, investors and executives; sports bankers and league consultants; public documents such as ballpark lease agreements, ballpark authority budgets and audits, and credit rating reports; and sponsorship and broadcasting industry executives. Figures that could not be independently verified are CNBC estimates.
Check out the full list of CNBC’s Official MLB Team Valuations 2025.
