Pirates notebook: Report has Pirates' estimated value at $500 million, 22nd in baseball
By Travis Sawchik
Published: Wednesday, Oct. 23, 2013, 5:48 p.m.
The Pirates are the 22nd-most valuable Major League Baseball franchise, according to a Bloomberg report published Wednesday.
The financial media outlet estimated the Pirates' team value at $500 million and found the average value of a major league team has increased to $1 billion, a 35 percent jump in the past year tied in part to the $2 billion sale price of the Los Angeles Dodgers.
Forbes valued at the Pirates at $479 million prior to the season with a one-year jump in franchise value of 43 percent.
While the Pirates have increased in value, the club ranks 20th or lower in team revenue ($185 million), gate receipts ($39 million), concessions ($14 million), media rights ($56 million) and sponsorships ($15 million), according to Bloomberg.
The Pirates ranked 19th in total attendance (2.3 million) but had some of the most affordable tickets in the game.
The Pirates have announced a slight increase in ticket prices for next season.
Hurting the club is its below-market local television deal signed through 2019.
When including $110 million in value from MLB Advanced Media, the game's digital arm whose value and revenue is shared equally among MLB teams, Bloomberg placed the Pirates' total value at $610 million.
The New York Yankees' total value is $3.3 billion, according to Bloomberg, making them the sport's most valuable franchise. The Dodgers rank second at $2.1 billion.
McCutchen named to Sporting News NL All-Star squad
Pirates center fielder Andrew McCutchen was named to the Sporting News' National League All-Star team, which is voted on by NL general managers and assistant GMs.
McCutchen is thought to be a favorite to earn NL MVP honors next month.
He batted .317 with 21 home runs and 27 steals in 2013. His value of 8.2 wins above replacement led the league.
Travis Sawchik is a staff writer for Trib Total Media. Reach him at email@example.com or via Twitter @Sawchik_Trib.
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