Forbes recently updated its MLB team valuation list, and the Cubs are way up from last season. According to the publication, the Chicago Cubs organization is now valued at a staggering $4.6 billion. This is a jump from the approximately $4.14 billion they were worth last season.
That’s approximately a 9% increase from last season. The Cubs rank as the fourth most valuable franchise in Major League Baseball behind the Yankees ($8.2 billion), Dodgers ($6.8 billion), and Red Sox ($4.8 million). The Cubs are valued at almost double the average major league team ($2.6 billion) and are ranked just ahead of teams like the Giants, Mets, and Phillies. The other Chicago team, The White Sox, was valued at just $2 billion ranking them 16th in the majors.
This ranking is not very surprising if you keep up with the Cubs in any capacity. For starters, Cubs fans pack Wrigley Field year in and year out. The Cubs blend historic charm with modern additions. Cubs fans are no joke.
The Ricketts are cashing in
The Ricketts family bought the Cubs in October of 2009 for $845 million. In the sixteen years since owning the Cubs, they have seen the revival of the loveable losers. Before their ownership, the Cubs were “cursed” and could not sustain success for decades at a time. Since then, they have won the World Series and been to the NLCS three times. The Cubs have certainly had their down years since, but one thing has remained constant: Cubs fans have always shown up.
This update may infuriate Cubs fans with owner Tom Ricketts. Ricketts went viral this season for his stance on “trying to break even”. Ricketts took the stance of an owner who does his best despite captaining a sinking ship.
By and large, Rickketts has been a solid owner for the Cubs. Unlike some owners, he does not interfere or meddle with the Cubs’ day-to-day operations, and he trusts the men he’s hired to run the team well. But where he fails is in his frugality. The Cubs should be consistently spending money like they are worth north of four and a half billion dollars. But they don’t.
Not big spenders
When comparing the Cubs’ ranking relative to their payroll, it’s easy to see why Cubs fans may be upset. Teams like the Yankees, Dodgers, and Mets spend like it’s going out of style.
The Dodgers recently spent $1 billion in a single offseason, the Mets just gave out the biggest contract in sports history at $765 million, and the Yankees had the second-highest payroll last season at $314 million. The Cubs, on the other hand, ranked 7th in payroll, have never given out a contract worth even $185 million, and constantly cry poor when an uber-talented player is available.
This $4.6 billion evaluation leaves the Cubs no excuse not to expand their payroll. Additionally, they should be in contention for prized free agents consistently. It’s time for the Cubs to follow the blueprint of the Mets, Dodgers, and Yankees and start writing blank checks, especially for stars. If they balk at a potential extension for superstar Kyle Tucker, there may be a mutiny in the streets of Chicago.
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Cubs worth $4.6 Billion according to Forbes