The Texas Rangers might be celebrating the skyrocketing value of their team by high-fiving in odd-looking uniforms, but probably not. (Photo by Tom Pennington/Getty Images)
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We may soon find out how much the value of the Texas Rangers has increased in the past 13 years.
Janice Simpson put her 10% ownership stake in the Texas Rangers on the market at a price that places a non-control valuation on the MLB team of $3 billion, according to people who are not owners of the Rangers but who are familiar with the situation. A spokesperson for the Rangers would not comment.
A limited-partner stake valuation of $3 billion implies a control valuation of about $3.5 billion. It was just two months ago that Forbes calculated the value of the Rangers at $2.225 billion.
The last MLB team that had a control stake change hands was the New York Mets, purchased by Steve Cohen in 2020 for $2.42 billion. The sale price of the Los Angeles Angels would have topped the Mets before owner Arte Moreno changed his mind in January and decided not to sell the team.
Janice Simpson and her former husband, Bob, who’s an owner of the team and a member of its executive committee, were divorced in 2017. The Simpsons were part of Rangers Baseball Express, the lead group of owners that bought the Rangers out of bankruptcy court in 2010 for $593 million.
The Rangers have become much more profitable since moving into their new ballpark. Globe Life Field had the misfortune of opening in 2020, when the pandemic prevented fans from attending games. But in 2022, the Rangers took in $405 million in revenue (before revenue-sharing and debt service) versus $335 million in 2019.
The Rangers also boast one of the most lucrative TV deals in baseball (see chart below), though the team may sever its relationship with regional sports network Bally Sports Southwest. Diamond Sports Group, which is in bankruptcy protection and owns the network, missed a payment to the Rangers earlier this year.
Should Simpson sell her stake it would have no impact on the control ownership of the Rangers, which would still be in the hands of Rangers Baseball Express and Ray Davis, the team’s managing partner and majority owner.
Local TV deals.
Forbes
