Say whatever you might about the broader economy (though I think this tracks with the whole K-shaped thing, if my limited understanding is correct), but it remains a very good time to own a marquee sports franchise. Even as the Chicago Cubs had reached the $4.5 billion mark this time last year according to multiple valuations, things just keep on appreciating at the top.
According to CNBC’s latest team valuations, the Chicago Cubs are now worth a whopping $5.25 billion, the third most in Major League Baseball. They trail only the Dodgers ($8 billion) and Yankees ($9 billion). Last year, CNBC had the Cubs worth $4.5 billion, so it was a very, very good year to own the Cubs.
Valuations almost across the board were up massively this past year, according to CNBC, and they’ve also heard that the San Diego Padres could sell for a record $3+ billion. I’d imagine the players association is taking notes for purposes of the Collective Bargaining Agreement negotiation, especially given that one of the under-the-hood reasons a salary cap is so desirable is because it can goose team valuations.
Of course, the owners will have their own little tidbit from the article to which to point:
“Despite the appreciation in MLB team values, the profitability of the league is in far worse shape than it is for the NFL, NBA and NHL, according to CNBC’s calculations. In 2025, MLB’s 30 teams had an EBITDA — earnings before interest, taxes, depreciation and amortization — margin of under 2% on average revenue of $426 million and average EBITDA of $7 million, including non-MLB ballpark events. In contrast, the comparable margin for the NFL was 20%, the NBA 21% and the NHL 22.2%, according to CNBC’s most recent valuations.”
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