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Rays' value posts 19 percent rally
A one-year investment return of 19 percent is nothing to sneeze at - especially if you're a Major League Baseball team that finished (again) in last place.
By LOUIS HAU
Published April 20, 2006
According to Forbes magazine's annual survey of baseball team valuations, the Tampa Bay Devil Rays are worth about $209-million, up from $176-million a year earlier. Granted, that's about a fifth of the value of the New York Yankees, who just breached the $1-billion mark. And the Rays' increase pales in comparison to the more robust gains of the Washington Nationals (42 percent), the Toronto Blue Jays (34 percent) and even the lowly Kansas City Royals (28 percent). While the Rays' value rose by more than the league average increase of 15 percent, team executives aren't paying much attention to the numbers. In a statement, Rays president Matt Silverman observed that Forbes' operating income figures ($20.3-million for the Rays in 2005) don't include items such as deferred compensation or capital expenditures. In reality, Silverman said, "we lost money in 2005 and we will lose money in 2006." While the Rays keep tabs on the direction of Forbes' baseball valuation data, "in absolute terms, they don't mean much," he said.
[Last modified April 20, 2006, 22:48:51]
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