Report: SF Giants made the second-largest profit in MLB during 2022
Despite a disappointing 2022 season on the field, the SF Giants made plenty of money last year, according to a report by Forbes. Per the business publication, the Giants made $74.9 million last season, the second-largest profit among MLB teams. Only the Mariners recorded a larger operating income ($85.8 million).
The Giants remained the fifth-most valuable franchise in the league with an estimated value of $3.7 billion. Only the Yankees ($7.1 billion), Dodgers ($4.8 billion), Red Sox ($4.5 billion), and Cubs ($4.1 billion) had larger estimated values.
In some ways, the fact that the Giants were such a successful business entity in 2022 in spite of mediocre on-field performance highlights a key reason some fans are concerned about the franchise's future. If ownership can make more than $50 million with middling payrolls and performance, what incentive will they have to compete?
It's worth noting that it's hard to imagine the Giants replicating their 2022 profits in 2023 without greater on-field success. While the Giants finished the year 81-81, they were coming off the 107-win 2021 season that had fan morale at one of its highest points since the franchise's last World Series victory. Those high expectations, and a relatively hot start to the season, likely drove excellent attendance figures well into the summer.
Furthermore, the Giants clearly wanted to improve last offseason, attempting to sign top free agents like Aaron Judge and Carlos Correa. Even though those attempts failed, the Giants still increased payroll by signing several players like Sean Manaea, Michael Conforto, and Mitch Haniger.
After the Giants failed to land one of the biggest names in free agency this offseason, fan morale is in a very different place heading into the season. Even if San Francisco gets off to a hot start, many fans will be hesitant to jump back on the bandwagon.
Nevertheless, Forbes' annual report on the financials of MLB teams is a good reminder that the business of baseball remains strong. Hopefully, the SF Giants' elite levels of profit translate to some elite on-field performances this season.
