Forbes has released it’s annual report on the worth of Major League Baseball teams and according to Forbes, the Pirates franchise is worth $304 million, up 5 percent from last season.
With more than $400 million in revenue sharing sent from high-revenue to low-revenue teams, several teams with low attendance were able to post operating profits of at least $10 million, according to the report.
Among them: the Pittsburgh Pirates ($25 million), Kansas City Royals ($10 million), Oakland Athletics ($23 million) and Florida Marlins ($20 million).
The most profitable team was the San Diego Padres, which had an operating income of $37 million in 2010. According to the report, the Padres received over $30 million in revenue sharing.
The Pirates were among several small market teams like the Padres to receive over $30 million in revenue sharing.
For the Padres, a substantial increase in attendance, due to a winning product on the field, led to a $35+ million operating profit.
Also, revenue for baseball’s 30 teams increased 4%, to $6.1 billion in 2010, according to the report.