Arte Moreno’s investment is paying off, according to Forbes magazine’s latest ranking of Major League Baseball clubs by value.
The Forbes report valued the Los Angeles Angels of Anaheim at $294 million, up 22% from $241 million last year. Moreno bought the Angels from Walt Disney Co. for $184 million in 2003.
Forbes’ valuation put the Angels at No. 17 among the 30 Major League Baseball teams. A year ago the Angels ranked No. 20.
Moreno changed the team name from Anaheim Angels earlier this year in a bid to boost its advertising, broadcasting and merchandise revenue. The team has seen season ticket sales rise this year.
The city of Anaheim has filed suit against the Angels over the name change. The city claims the move violates the team’s lease with the city.
Forbes said the Angels were worth less than No. 16 Washington Nationals at $310 million. The Nationals moved from Montreal in time for the 2005 season.
The Angels’ 2004 revenue rose $20 million to $147 million, according to Forbes. But the team posted an operating loss of $30 million last year, up from a loss of $5.5 million a year earlier.
The No. 1 team was,as usual,the New York Yankees. Forbes valued the team at $950 million. No. 2 Boston Red Sox checked in at $563 million.
The Los Angeles Dodgers ranked fourth with a value of $424 million. The Dodgers recorded $166 million in revenue in 2004, $19 million more than the Angels.
The Angels have baseball’s fifth-highest payroll for the 2005 season at $95 million.
