The Kansas City Royals, despite averaging 97 losses over the past five seasons, is still a highly-profitable organization worth over $350 million, according to a report on Thursday.
According to Forbes.com, the Royals were the 26th most valuable franchise in Major League Baseball with a team value of $351 million, and the team made a profit of $10 million in 2010 despite losing 95 games and averaging 20,191 fans per game (53 percent of capacity) at Kauffman Stadium.
The reports says that the team was profitable because it is one of the larger recipients of 'welfare' from richer teams, and a relatively-modest payroll of $72 million in 2010. The report says that the team's profits should increase in 2011 after the Royals jettisoned a combined $32 million in player salaries with the loss to of Gil Meche, Jose Guillen and Zack Greinke to retirement or trade.
The New York Yankees were ranked as the most valuable team in baseball, worth $1.7 billion, followed by the Boston Red Sox ($912 million) and the Los Angeles Dodgers ($800 million). The Pittsburge Pirates were ranked last, with a team value of $300 million.Copyright © 2014, The Baltimore Sun