Reds among MLB’s least valuable teams in 2023, per Forbes

Cincinnati Reds fan Cole Murray, left, wears a paper bag on his head during the Reds' Friday...
Cincinnati Reds fan Cole Murray, left, wears a paper bag on his head during the Reds' Friday night loss at Great American Ball Park. Murray and his friends were asked to remove their bags as they were granting an interview to a local TV station.(Kareem Elgazzar/The Enquirer)
Published: Mar. 23, 2023 at 12:16 PM EDT
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CINCINNATI (WXIX) - The Reds franchise is among MLB’s least valuable organizations, according to Forbes.

Far removed from the days of the Big Red Machine and World Series hopes, the Reds franchise has had little success over the past few decades. Cincinnati has made the playoffs just four times since appearing in the 1995 National League Championship.

Fans have grown increasingly frustrated with how the Castellini family has handled one of baseball’s most historic franchises. Robert Castellini took over as the controlling owner in 2006.

Last season, Reds fans let their displeasure be known.

They protested outside of Great American Ball Park, funded a billboard and some even wore bags over their head at games. The message behind it all: “Sell the team, Bob.”

With the March 30 Opening Day right around the corner, Forbes released its annual list of the most valuable teams in MLB.

The Reds were ranked the 28th most valuable team heading into the 2023 season. Only the Oakland A’s and Miami Marlins were ranked below Cincinnati.

Forbes valued the Reds at $1.19 billion - a zero percent change from 2022.

Forbes explained in its article that “geography and regional sports network economics played pivotal roles” in its valuations. Recently, Diamond Sports Group filed for bankruptcy. Diamond Sports Group owns the local media right to 14 of MLB’s 30 teams, including the Reds.

The Reds operated at a loss of $12.6 million in 2022.

The most valuable MLB team, according to Forbes, is the New York Yankees.

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