Houston Astros' Value Soars in New Forbes Rankings
It's a good time to own the Astros.
The Houston baseball team's value spiked 32 percent year over year to $1.45 billion in 2017, according to Forbes research. The value increase sets the Astros close to Major League Baseball's average team value of about $1.53 billion. (Cont'd Below)
The increase boosted Houston up two spots on Forbes' "Business of Baseball" list to No. 13 out of 30 MLB teams. Houston ranked 15th overall in 2016 with a value of $1.3 billion and No. 26 in 2015 with a value of $800 million.
Houston also had the fifth-highest operating income in MLB at $75.9 million.
Once again, the New York Yankees were MLB's most valuable team at $3.7 billion. The Tampa Bay Rays were ranked the least valuable in the league at $825 million.
Texas' only other MLB team, the Texas Rangers in Arlington, sported a value of $1.55 billion and ranked No. 11. Combined, Texas is the third most valuable state behind New York and California.
Houston updated its stadium digs in the offseason. The Astros leveled Tal's Hill in centerfield to make way for Torchy's Tacos and Shake Shack along with other improvements at Minute Maid Park.
Fair Use Source: Jack Witthaus with Houston Business Journal