If Dick Monfort wants to sell the Rockies, Forbes says he could get $1.475B
Mar 23, 2023, 1:32 PM
(Photo by Dustin Bradford/Icon Sportswire via Getty Images)
Hey Dick Monfort, any interest in selling the Colorado Rockies?
If so, Forbes projects Monfort could pocket a cool $1.475 billion, the latest valuation of the team that plays at 20th and Blake.
Ironically, the Rockies came in 20th in MLB in terms of how much their franchise is worth on the publication’s annual list. The Yankees were first, with an eye-popping price tag of $7.1 billion. The Dodgers were second, worth $4.8 billion and the Red Sox ($4.5 billion), Cubs ($4.1 billion) and Giants ($3.7 billion) rounded out the top-5.
The Rockies were up just six percent from a season ago, whereas teams like the Yankees and Dodgers were up 18 percent each. The biggest reason why? The uncertainty around their local television situation moving forward. We told you in February about some of the issues AT&T SportsNet is facing.
“We nudged up the Rockies 6%, to $1.475 billion, and the Padres 11%, to $1.75 billion, because their stadium revenue (tickets, suites, advertising) should compensate for any decline in local TV revenue,” Forbes’ Mike Ozanian and Justin Teitelbaum wrote.
And revenue at Coors Field is never a problem. Despite not fielding a winning team the last four seasons, the Rockies still draw well. The beautiful ballpark averaged 32,067 fans a season ago, good for sixth in the Nation League. 2020 and 2021 are non-factors, due to no fans because of the COVID-19 pandemic and then limited attendance and mask rules.
Overall, just about 2.6 million people came through the gates a season ago, providing Monfort and the team plenty of opportunities to make money. The product on the field doesn’t seem to matter, as fans will always flock to the biggest party in Denver.
Will Monfort ever sell the team? That’s an entirely different question. At a contentious Zoom press conference after the Nolan Arenado trade, he mocked a local journalist, saying “you’d like that, wouldn’t you?”
Still, if he wants to cash out, now would be as good of a time as ever. Rockies fans would welcome a change at the very top, and hopefully a more competitive baseball team to follow.