The Athletics franchise is now valued at $2.5 billion, according to CNBC’s sports business reporter Mike Ozanian, reflecting a $500 million increase from last year’s $2 billion valuation. The spike comes as construction of the team’s new $2 billion ballpark on the Las Vegas Strip continues on schedule for a 2028 opening.
Ozanian attributed the rising valuation to growing clarity on future revenue streams once the team relocates to Southern Nevada. “It’s becoming clearer as the new ballpark takes shape what the team is likely to generate in revenues from the ballpark,” he said. “The valuation is based on what their revenues are likely to be. … It should be well over $500 million.”
The A’s are also making headway in raising $550 million through minority stake sales to fund stadium construction. Reported deals include concessions giant Aramark and a Korean investment group that includes a former BTS member and a former MLB pitcher.
Ozanian noted that the San Diego Padres, valued at $3.1 billion, generated $484 million in revenue last year, suggesting the A’s could reach a similar valuation if they hit $500 million in annual revenue in Las Vegas. “I don’t think $2.5 billion is a final spot for the Athletics,” he said. “It’s going to continue to climb as their ballpark progresses.”
The trajectory mirrors the Raiders’ relocation from Oakland to Las Vegas in 2020, which saw the franchise jump from near the bottom of NFL valuations to the top 10. However, upcoming MLB labor negotiations—the current collective bargaining agreement expires in December—and media rights deals set to expire after the 2028 season could affect valuations league-wide.
Ozanian cautioned that a prolonged work stoppage could slow revenue growth. “You don’t know what speed bumps are going to be ahead should baseball have a work stoppage,” he said. The A’s currently receive more than $50 million annually from their regional sports network, NBC Sports California, but MLB’s next national media rights deal could be significantly higher than the current $1.8 billion per year. Ozanian pointed to strong World Series ratings compared to the NBA Finals as evidence of baseball’s value.
