Nobody goes to the ol' ballgame to watch the owners perform. For better or worse, though, they call the shots.

Hence the question of the day: Which MLB owners are the best and worst at doing so?

Let's attempt to answer this by ranking all 30 ownership situations. The list is meant to assess just how strongly (or not) fans should feel like their team is in good hands.

The more Ws an owner has to show for their time in charge, the better. But in some cases, it's important not to dwell too much on track records. If returns have been diminishing or increasing, then it is appropriate to apply recency bias. This is about right now, after all.

Financials also matter, but only insomuch as to how they relate to the quality of the product. If a franchise's value and revenue are outpacing payroll, that only benefits ownership.

Sources for this include Forbes' March 2024 report on teams' purchase prices, values and revenues. Forbes also tracks the net worth of many MLB owners, though a February 2022 report from Mike DiGiovanna of the Los Angeles Times filled in some blanks.

Cot's Baseball Contracts has Opening Day payrolls dating back to the 2000 season, while FanGraphs has payroll projections for the 2025 season.

Without further delay, let's count them down one at a time.

30. Miami Marlins

Owner: Bruce Sherman since September 2017

Net Worth: $500 million as of 2020

On-Field Performance

Record: 433-598 (.420 W/L%)

Playoffs: 2 appearances

The Marlins have made as many postseasons in seven seasons under Sherman as they did in their first 25 seasons before his takeover. So, you have to give him that much.

And yet, the Marlins have also lost more games since 2018 than every other team in the National League. This includes two 100-loss seasons, which likewise matches the franchise's mark for its first 25 seasons.

Financials

Purchase Price vs. Value: $1.2 billion vs. $1 billion (30th in MLB)

2023 Revenues: $295 million (28th in MLB)

Average Payroll Rank: 26.1

2024 Spending vs. Projected 2025 Spending: $39 million decrease

What we have here is a low-value, low-revenue franchise in a relatively small market. And while Sherman is fabulously wealthy compared to us normies of the proletariat, he is among the least wealthy of those lucky few who own MLB teams.

This situation doesn't seem remotely viable, so one can hardly blame Derek Jeter and Kim Ng for wanting out of the franchise.

29. Pittsburgh Pirates

Owner: Nutting Family since February 1996

Net Worth: $1.1 billion as of 2020

On-Field Performance

Record: 2,066-2,524 (.450 W/L%)

Playoffs: 3 appearances

The Pirates are about to head into the 30th season of the Nutting era, and it'll take nothing less than a World Series title to redeem the first 29.

Only the Kansas City Royals have sustained more defeats since 1996, and they at least won a pennant in 2014 and a championship in 2015. In addition to those three playoff appearances, the Bucs somehow only have four winning seasons to show for the last three decades.

Financials

Purchase Price vs. Value: $92 million vs. $1.32 billion (25th in MLB)

2023 Revenues: $309 million (24th in MLB)

Average Payroll Rank: $26.6

2024 Spending vs. Projected 2025 Spending: $4 million decrease

The Pirates' value and revenues are more or less in line with their market size. From these angles, at least, you can make excuses for Nutting's refusal to consistently invest in payroll.

It becomes harder to do so when you notice that his net worth is measured in billions. He ought to be treating the Bucs like his pride and joy, whereas he never spends in free agency and otherwise skimps on everything. Fans are right to want him to sell.

28. Colorado Rockies

Owner: Charles and Richard Monfort since December 2005

Net Worth: $700 million as of 2020

On-Field Performance

Record: 1,372-1,605 (.461 W/L%)

Playoffs: 4 appearances, 1 pennant

It was under the Monforts that the Rockies made their first and still only appearance in the Fall Classic. That was in 2007, and it pretty much happened out of nowhere by way of a 22-1 run that carried the team to the World Series.

Otherwise, there just isn't much to see here. The Rockies are baseball's fourth-biggest loser since 2006. Even a bold prediction of .500 ball in 2023 got reality-checked by the franchise's first 100-loss season, followed swiftly by its second in 2004.

Financials

Purchase Price vs. Value: $95 million vs. $1.475 billion (20th in MLB)

2023 Revenues: $313 million (23rd in MLB)

Average Payroll Rank: 18.6

2024 Spending vs. Projected 2025 Spending: $24 million decrease

Frankly, it's hard to accuse the Monforts of not sinking enough money into the Rockies. They're not that wealthy by the standards of other MLB owners, and the franchise itself is neither especially valuable nor especially revenue-rich.

The issue is more so that the Monforts are bad at spending money. That hints at a leadership issue just in the abstract, though such a thing is also evident in the franchise's notoriously insular and perpetually clueless front office.

27. Cincinnati Reds

Owner: Robert Castellini since November 2005

Net Worth: $400 million as of 2020

On-Field Performance

Record: 1,414-1,562 (.475 W/L%)

Playoffs: 4 appearances

It's a rough dry spell that the Reds are stuck in right now. Only one of their four playoff appearances under the Castellinis has come since 2014, and that was via a mere 31-29 record in the shortened season in 2020.

Things are looking up, though. The Reds have been more or less a .500 team since the start of 2023, and the combination of stars like Elly De La Cruz and Hunter Greene and newcomer manager Terry Francona could result in a return to October in 2025.

Financials

Purchase Price vs. Value: $270 million vs. $1.26 billion (26th in MLB)

2023 Revenues: $315 million (T-20th in MLB)

Average Payroll Rank: 19.7

2024 Spending vs. Projected 2025 Spending: $15 million increase

In the Castellinis, the Reds are controlled by the poorest out of all MLB ownership groups. And after 143 years of existence, this franchise is much better off in the history department than in the value department.

As Cincinnati is the second-smallest market in MLB, probably the only way for the Reds to raise their payroll ceiling is if a wealthier ownership group takes over. But for now, the Castellinis seem to prefer that Reds fans simply stop complaining.

26. Athletics

Owner: John Fisher since March 2005

Net Worth: $3.1 billion as of 2025

On-Field Performance

Record: 1,547-1,590 (.493 W/L%)

Playoffs: 7 appearances

Fisher was a majority investor when Steve Schott and Ken Hofmann sold the A's in 2005, by which time the team's "Moneyball" era was in its waning days. So too, apparently, was the franchise's status as a consistent powerhouse.

Though the A's fielded fun teams in the early and late 2010s, losses have been more common than wins during the Fisher era. And of the six playoff trips they have made since 2007, only one yielded a series victory.

Financials

Purchase Price vs. Value: $180 million vs. $1.2 billion (29th in MLB)

2023 Revenues: $241 million (30th in MLB)

Average Payroll Rank: 25.6

2024 Spending vs. Projected 2025 Spending: $11 million increase

As if the A's leaving Oakland wasn't painful enough, it feels a bit like a middle finger that the team is suddenly spending as it prepares for a couple years in Sacramento before heading on to Las Vegas. It's all revenue-sharing dollars, but still.

Fisher's previous refusal to spend makes sense relative to the value and revenue of his franchise, but not to that of "his" personal wealth. And if you're wondering about those quotation marks, it's because he inherited his fortune from his parents.

25. Chicago White Sox

Owner: Jerry Reinsdorf since January 1981

Net Worth: $2.1 billion as of 2025

On-Field Performance

Record: 3,415-3,484 (.495 W/L%)

Playoffs: 7 appearances, 1 pennant, 1 World Series

The White Sox's championship run in 2005 was the franchise's first since 1917. And while it seemed to fade from public consciousness pretty much as soon as it happened, it should be remembered as one of the great seasons of the 21st century.

On the whole, though, that season is an outlier for Reinsdorf's 44 years in charge. The White Sox have been a reliable loser under his watch, culminating in a record-setting 121-loss campaign just last year.

Financials

Purchase Price vs. Value: $20 million vs. $2.05 billion (15th in MLB)

2023 Revenues: $288 million (29th in MLB)

Average Payroll Rank: 15.0

2024 Spending vs. Projected 2025 Spending: $71 million decrease

Mere months after the White Sox sold to Reinsdorf for $20 million, the crosstown Cubs sold for $20.5 million.

It says a lot that the Cubs are now a $4.2 billion franchise, a value twice as large as that of the White Sox. It also says a lot that Reinsdorf putting real money into his payrolls has not been the norm, as the team has opened with a top-10 payroll just once since 2012.

Brittany Ghiroli of The Athletic reported in October that Reinsdorf was in "active discussions" to sell the White Sox, though there has been little in the way of updates since then.

24. Los Angeles Angels

Owner: Arte Moreno since April 2003

Net Worth: $5.1 billion as of 2025

On-Field Performance

Record: 1,778-1,684 (.514 W/L%)

Playoffs: 6 appearances

Yes, it's true. Counting a 2003 season in which the franchise was fresh off a victory in the 2002 World Series, the Angels have won more than they've lost under Moreno. Bet you didn't see that coming, did you?

There's ample reason for pessimistic views of the Angels under Moreno. The club hasn't made the playoffs since 2014 and has posted nine straight losing records. This is despite five MVP-winning seasons by Mike Trout and Shohei Ohtani, which is almost impressive.

Financials

Purchase Price vs. Value: $183.5 million vs. $2.7 billion (9th in MLB)

2023 Revenues: $388 million (12th in MLB)

Average Payroll Rank: 6.6

2024 Spending vs. Projected 2025 Spending: $13 million increase

Everything here suggests the Angels should be a powerhouse. They're a valuable franchise with strong revenues and a very wealthy owner. And in this case, said owner is typically aggressive about putting money into payroll.

Strangely, though, there is an undercurrent of cheapness to Moreno's ownership. He wants nothing to do with the luxury tax, and he's guilty of skimping on expenses not related to the major league payroll.

When Moreno decided not to pursue selling the Angels in 2024, you could practically hear the groan coming from Anaheim.

23. Minnesota Twins

Owner: Pohlad Family since August 1984

Net Worth: $3.8 billion as of 2020

On-Field Performance

Record: 3,106-3,204 (.492 W/L%)

Playoffs: 12 appearances, 2 pennants, 2 World Series

This is not counting the 1984 season because of how late the Pohlads took control of the team that year. But it is counting the franchise's time in the spotlight in 1987 and 1991, when Kirby Puckett and company won a couple of titles.

Otherwise, 10 of those 12 playoff appearances have come since 2002. Even if there were only two playoff series victory in that span, let's grant that the Twins have been more of a mainstay contender than the Pohlads' overall record might lead one to believe.

Financials

Purchase Price vs. Value: $44 million vs. $1.46 billion (21st in MLB)

2023 Revenues: $342 million (16th in MLB)

Average Payroll Rank: 19.4

2024 Spending vs. Projected 2025 Spending: $18 million increase

This is a mid-market team with mid-market revenues that, unfortunately, has rarely aspired to push the envelope. The Pohlads have a long history of keeping payroll in check, notably forcing a big cut last year in the wake of a promising 2023 season.

Yet the real reason the Twins rank so low on this list is because their ownership situation is about to change very soon. The Pohlads are trying to sell, with Dan Hayes of The Athletic reporting they may well do so before Opening Day.

22. San Diego Padres

Owner: Seidler Family since August 2012

Net Worth: $3 billion as of 2022

On-Field Performance

Record: 882-960 (.479 W/L%)

Playoffs: 3 appearances

There were some false starts at the beginning of the Seidler era, notably including a pre-2015 shopping spree that only led to one out of nine straight losing seasons between 2011 and 2019.

It's the last five seasons that reflect better on the Padres. They have a .537 winning percentage to show for this span, and any one of their three playoff trips might have yielded a pennant or a World Series. Each of the three clubs gave off super-team vibes.

Financials

Purchase Price vs. Value: $600 million vs. $1.78 billion (17th in MLB)

2023 Revenues: $345 million (15th in MLB)

Average Payroll Rank: 17.2

2024 Spending vs. Projected 2025 Spending: $36 million increase

It was clear by the end of 2023 that the Padres were spending more than they could afford to under Peter Seidler, who died in November of that year. His widow, Sheel Seidler, has sued his brothers for control of the team, though MLB has picked its side by approving John Seidler as the franchise's control person.

It's ugly, alright, and even the payroll increase on tap for 2025 may prove to be a mirage. All sorts of Padres stars are on the trading block, including ace Dylan Cease and three-time batting champion Luis Arraez.

21. Detroit Tigers

Owner: Ilitch Family since December 1991

Net Worth: $3.8 billion as of 2020

On-Field Performance

Record: 2,380-2,793 (.460 W/L%)

Playoffs: 6 appearances, 2 pennants

Though the same family has been in charge for over three decades, the Tigers era that really matters here is the one the team entered after Mike Ilitch died in February 2017. Control of the team then fell to his son, Christopher.

Not much fun has been had, as the Tigers have lost more games than every team except one since 2017. And while they finally returned to the playoffs in 2024 after nine years away, they were a formidable squad for only a handful of weeks at the end of the season.

Financials

Purchase Price vs. Value: $82 million vs. $1.45 billion (22nd in MLB)

2023 Revenues: $306 million (25th in MLB)

Average Payroll Rank: 13.1

2024 Spending vs. Projected 2025 Spending: $38 million increase

Mike Ilitch was not shy about spending, to a point where the Tigers peaked with the second-highest Opening Day payroll for the 2017 season. Yet given the numbers above, whether that spending was ever sustainable is suspect.

In any case, even the spending increase on tap for 2025 feels underwhelming. The Tigers are frankly stuck in a holding pattern of playing it safe, which is frustrating in the wake of president of baseball operations Scott Harris hinting at a more aggressive offseason.

20. Washington Nationals

Owner: Lerner Family since May 2006

Net Worth: $4.5 billion as of 2020

On-Field Performance

Record: 1,429-1,545 (.480 W/L%)

Playoffs: 5 appearances, 1 pennant, 1 World Series

The Lerners bought the Nationals early enough in 2006 to count that season, which was the franchise's second in Washington after shedding their Montreal Expos label in 2005.

Six years later, the Nats were in the playoffs. Seven years after that, they were champs.

It's been ugly ever since, as Washington's 420 losses since 2020 are tied for the most of any team. This falls on the shoulders of Mark Lerner, who took control of the team from his father, Ted, midway through the 2018 season. Ted died in February 2023.

Financials

Purchase Price vs. Value: $450 million vs. $2 billion (16th in MLB)

2023 Revenues: $355 million (14th in MLB)

Average Payroll Rank: 15.3

2024 Spending vs. Projected 2025 Spending: $20 million decrease

That average payroll rank doesn't tell the full story. The Nationals carried a top-10 payroll eight times in nine seasons between 2013 and 2021, spending a franchise-high $197.2 million the year they won it all in 2019.

It is frustrating that spending isn't going up again, but this may be a case where patience is warranted. The Lerners are no longer trying to sell the Nationals, and now the franchise is owed $320.5 million in TV rights fees through 2026.

19. Kansas City Royals

Owner: John Sherman since August 2019

Net Worth: $1.3 billion as of 2020

On-Field Performance

Record: 307-401 (.434 W/L%)

Playoffs: 1 appearance

The Royals' first four seasons under Sherman were a rough time. Their 325 losses between 2020 and 2023 were the most of any American League team, with a franchise-record-tying 106 coming in '23 alone.

The 30-win swing from there to 86 wins and a playoff appearance in 2024 felt nothing short of miraculous. And with the band pretty much set to return for 2025, another trip to October is within reach.

Financials

Purchase Price vs. Value: $1 billion vs. $1.225 billion (28th in MLB)

2023 Revenues: $302 million (26th in MLB)

Average Payroll Rank: 23.2

2024 Spending vs. Projected 2025 Spending: $18 million increase

This is where you have to give Sherman credit. With Bobby Witt Jr.'s $288.8 million extension serving as the headliner, he greenlit the second-most expensive spending spree of the 2023-24 offseason. And in 2025, payroll will rise once again.

For the record, the Royals play in the smallest market in the American League. Yet what Sherman seems intent to prove is that it's not market size that matters so much as the owner's tenacity. And good on him for that.

18. Baltimore Orioles

Owner: David Rubenstein since March 2024

Net Worth: $4 billion as of 2025

On-Field Performance

Record: 91-71 (.562 W/L%)

Playoffs: 1 appearance

Though it had little to do with anything they did, the Angelos family sold the Orioles to Rubenstein at a moment when the franchise was on an upswing. The Orioles had just won 101 games in 2023, marking their first trip to the century mark since 1980.

Last year was a step back in this regard, and you still have to go back to 2014 to find the last time Baltimore won a playoff game. So strong is the state of the roster, though, that another playoff run in 2025 is all but assured.

Financials

Purchase Price vs. Value: $1.725 billion vs. $1.725 billion (18th in MLB)

2023 Revenues: $328 million (T-17th in MLB)

Average Payroll Rank: 26.0

2024 Spending vs. Projected 2025 Spending: $58 million increase

Rubenstein's purchase of the Orioles went through too late for him to have any real input on the 2024 payroll. It's therefore a welcome sight to see him putting money into the 2025 payroll, which Spotrac projects at No. 14 in MLB.

However, the splash that Orioles fans have been waiting patiently for still hasn't materialized. A $49.5 million deal with Tyler O'Neill isn't it, particularly when compared to hypothetical extensions for core stars such as Adley Rutschman and Gunnar Henderson.

17. San Francisco Giants

Owner: Johnson Family since January 1993

Net Worth: $4.4 billion as of 2020

On-Field Performance

Record: 2,610-2,405 (.520 W/L%)

Playoffs: 9 appearances, 4 pennants, 3 World Series

The Giants' ownership picture is more complicated than this, as the franchise has had different power structures without actually getting sold over the years. The current power structure, headed by Greg Johnson, has only been in place since November 2019.

Under his watch, a 107-win season in 2021 stands out from a gaggle of .500 seasons otherwise. A new direction is underway, with the choice of Buster Posey as president of baseball operations representing an incantation for the glory days of the 2010s to return.

Financials

Purchase Price vs. Value: $100 million vs. $3.8 billion (5th in MLB)

2023 Revenues: $443 million (8th in MLB)

Average Payroll Rank: 9.6

2024 Spending vs. Projected 2025 Spending: $30 million decrease

The Giants know from the aforementioned glory days just how much spending can matter. When they won the World Series in 2010, 2012 and 2014, they ranked 11th, 6th and 7th, respectively, in Opening Day payroll.

A return to those levels of spending is overdue, though it's not for lack of trying that it hasn't happened. If the Giants had it their way, Aaron Judge or Shohei Ohtani would have signed with them. Alas, it just didn't happen.

16. Toronto Blue Jays

Owner: Rogers Communications since December 2000

Market Cap: $14.9 billion as of 2025

On-Field Performance

Record: 1,894-1,891 (.500 W/L%)

Playoffs: 5 appearances

It feels appropriate that the Blue Jays' winning percentage since 2001 is almost exactly .500. That is their comfort zone, as the last 24 seasons have seen them go neither over 93 wins nor over 95 losses.

There have been exceptions, including World Series-caliber squads in 2015 and 2016 and a series of truly promising teams since 2020. Yet the story of both is of unrealized potential, and 2025 is looking like a year that could force the franchise back to the drawing board.

Financials

Purchase Price vs. Value: $137 million vs. $2.1 billion (14th in MLB)

2023 Revenues: $328 million (17th in MLB)

Average Payroll Rank: 14.5

2024 Spending vs. Projected 2025 Spending: $33 million increase

This is not quite apples vs. apples, but Rogers Communications comes close to Steve Cohen as far as the sheer wealth of an MLB ownership group is concerned. It is therefore fair to question whether the Blue Jays' roster has been underfunded all these years.

Recently, though, it isn't for lack of trying. Toronto made real runs at Shohei Ohtani and Juan Soto, and its projected $250 million payroll for 2025 is poised to reset the bar for the franchise. And this is with an extension for Vladimir Guerrero Jr. possibly still to come.

15. Seattle Mariners

Owner: John Stanton since August 2016

New Worth: $1.1 billion as of 2020

On-Field Performance

Record: 615-579 (.515 W/L%)

Playoffs: 1 appearance

Stanton took over late in 2016, so the window here is from 2017 through 2024. It has mostly been a good one for the Mariners, as they have tended to hover around 90 wins and famously ended a 21-year playoff drought in 2022.

Yet there is also a frustrating element at play. Rather than for greatness, the Mariners are content to aim for mere goodness. This is straight from the horse's mouth, as president of baseball operations Jerry Dipoto operates with a 10-year goal to win 54 percent of the time.

Financials

Purchase Price vs. Value: $1.4 billion vs. $2.2 billion (13th in MLB)

2023 Revenues: $396 million (10th in MLB)

Average Payroll Rank: 17.5

2024 Spending vs. Projected 2025 Spending: $8 million increase

There are 23 markets in MLB, and Seattle is the 11th-biggest of them all. The franchise's value and revenues more or less reflect that, which naturally leads us to the obligatory question: Why don't its payrolls?

The only logical answer would be that Stanton himself is not particularly wealthy, but that is not the case. Especially in light of recent developments, Mariners fans have every right to be outraged that he is not doing more to deliver the club's first World Series championship.

14. Tampa Bay Rays

Owner: Stuart Sternberg since October 2005

Net Worth: $800 million as of 2020

On-Field Performance

Record: 1,573-1,404 (.528 W/L%)

Playoffs: 9 appearances, 2 pennants

Before Sternberg took over, the Rays were a fledgling franchise that performed a lot like...well, like a fledgling franchise. They lost 776 games between 1998 and 2005, the most of any team in MLB.

They have since won more games than all but five teams, plus another 28 in their nine postseason appearances. Even in falling from grace via a 19-loss swing from 2023 to 2024, they were never more than five games below .500 at any point.

Financials

Purchase Price vs. Value: $200 million vs. $1.25 billion (27th in MLB)

2023 Revenues: $301 million (27th in MLB)

Average Payroll Rank: 27.3

2024 Spending vs. Projected 2025 Spending: No change

Spending has never been the Rays' thing under Sternberg. And while the team's revenues hint that the club is overdue for its first Opening Day payroll over $100 million, it's not as if the franchise or Sternberg himself are overflowing with cash.

Meanwhile, there's the question of what happens next.

Tropicana Field literally got blown away in November, and what seemed like a solid plan for a new stadium is now on thin ice. Ken Rosenthal of The Athletic recently pondered whether Sternberg's best move would be to sell, and it's a hard point to push back against.

13. Cleveland Guardians

Owner: Dolan Family since February 2000

New Worth: $4.6 billion as of 2020

On-Field Performance

Record: 2,046-1,899 (.519 W/L%)

Playoffs: 9 appearances, 1 pennant

The Dolans had a hard act to follow when they took over the Guardians franchise in 2000. The Cleveland teams of the 1990s had been a powerhouse, winning two pennants in five years between 1995 and 1999.

It was initially a struggle to live up to that fine example, but the Guardians look better if the scope is narrowed to their last 12 years with Paul Dolan as their control person. They're No. 4 in MLB in wins for this span, with only five failures to make the playoffs.

Financials

Purchase Price vs. Value: $323 million vs. $1.35 billion (24th in MLB)

2023 Revenues: $315 million (T-20th in MLB)

Average Payroll Rank: 21.2

2024 Spending vs. Projected 2025 Spending: $8 million decrease

The Guardians win as consistently as they do because they're incredibly well run. Of note is that an April 2024 poll of executives by The Athletic found them to have the fourth-most respected front office in the sport.

Alas, if only there was funding to back up all this ingenuity. The Dolans can be fairly accused of cheapness in this regard. Cleveland may be a small market, but the family is fabulously wealthy enough to afford at least an occasional push of the envelope.

12. Milwaukee Brewers

Owner: Mark Attanasio since January 2005

Net Worth: $700 million as of 2020

On-Field Performance

Record: 1,628-1,511 (.519 W/L%)

Playoffs: 8 appearances

The Brewers went to the World Series in 1982. Then came 22 seasons of misery in which they lost more games than all but one other team.

The Attanasio era is quite the turnaround, and it has been especially fruitful lately. Since 2018, the Brewers have made the playoffs six times and racked up more wins than all but five franchises. There's a solid argument that the franchise's all-time peak is happening now.

Financials

Purchase Price vs. Value: $223 million vs. $1.605 billion (19th in MLB)

2023 Revenues: $320 million (19th in MLB)

Average Payroll Rank: 20.6

2024 Spending vs. Projected 2025 Spending: No change

Milwaukee is the smallest market in MLB, so it's a badge of honor that the team is as valuable and revenue-rich as it is. And even if it would be nice to see the occasional push, the club's payrolls have at least been consistent under Attanasio.

There is a real cost to his aversion to boldness, though. Brewers fans know all too well the heartbreak of having to say goodbye to stars, including Josh Hader, Corbin Burnes and Willy Adames. As such, Attanasio is administering an ongoing, never-ending loyalty test.

11. Arizona Diamondbacks

Owner: Ken Kendrick since March 2004

Net Worth: $1.1 billion as of 2025

On-Field Performance

Record: 1,563-1,737 (.474 W/L%)

Playoffs: 4 appearances, 1 pennant

For most of Kendrick's time in charge of the Diamondbacks, the franchise has just sort of been there. Yet the lows stand out, including a 111-loss season in 2004 and a 110-loss campaign just four years ago.

In the here and now, though, this is a dangerous team. The D-backs improved by five wins after going to the World Series in 2023, and the club's foot has only gotten firmer on the gas pedal this winter. Accordingly, another strong season should follow in 2025.

Financials

Purchase Price vs. Value: $238 million vs. $1.425 billion (23rd in MLB)

2023 Revenues: $314 million (22nd in MLB)

Average Payroll Rank: 20.5

2024 Spending vs. Projected 2025 Spending: $22 million increase

A big spender, the Diamondbacks are not. Yet they're a bigger spender than one would expect, and that especially goes for right now. The club set a payroll record in 2024 and is set to break it again in 2025.

Upon signing Corbin Burnes for $210 million, Kendrick admitted to "stretching the budget" in order to compete in the NL West. Perhaps that horrifies the finance geeks of the world, but it's what every baseball fan should want their owner to be doing.

10. Texas Rangers

Owner: Ray Davis since August 2010

Net Worth: $3.9 billion as of 2025

On-Field Performance

Record: 1,071-1,096 (.494 W/L%)

Playoffs: 5 appearances, 2 pennants, 1 World Series

This is not counting the 2010 season, which ended with the Rangers making their first appearance in the World Series. Another followed in 2011, and the club finally won it all with a surprising yet convincing romp through the 2023 playoffs.

This is hardly ancient history as the Rangers head into the 2025 season, though it's still worth acknowledging 2023 is an outlier amid the club's trajectory under Davis' leadership since 2017. It's the only winning season out of eight in this span.

Financials

Purchase Price vs. Value: $593 million vs. $2.4 billion (12th in MLB)

2023 Revenues: $425 million (9th in MLB)

Average Payroll Rank: 11.8

2024 Spending vs. Projected 2025 Spending: $5 million decrease

The Rangers laid low as they rebuilt in the late 2010s and early 2020s, but they won the World Series in 2023 largely because they dared to spend. Of particular importance were $500 million worth of contracts for Corey Seager and Marcus Semien.

On it goes, though the Rangers have eased up on the gas pedal a little. They have deliberately stopped just short of the luxury-tax threshold for 2025, which is disappointing considering their new broadcast deal and Davis' ample wealth.

9. Chicago Cubs

Owner: Ricketts Family since October 2009

Net Worth: $1.8 billion as of 2020

On-Field Performance

Record: 1,162-1,166 (.499 W/L%)

Playoffs: 5 appearances, 1 pennant, 1 World Series

The Ricketts family will always have this going for them: They were the ones in charge when the Cubs snapped a 108-year World Series championship drought in 2016.

It's an accomplishment that must not be diminished, and it's not as if times have been all bad on either side of it. The Cubs have eight winning seasons to show for the last decade, and they now loom as the best pick to win the NL Central going into 2025.

Financials

Purchase Price vs. Value: $700 million vs. $4.225 billion (4th in MLB)

2023 Revenues: $506 million (3rd in MLB)

Average Payroll Rank: 9.0

2024 Spending vs. Projected 2025 Spending: $37 million decrease

The Cubs have carried some big payrolls under the Ricketts, including a third-ranked $203.1 million Opening Day payroll in 2019.

Right now, though, this is arguably the ultimate case of a team's spending being out of whack with its market, value and revenues.

Cubs chairman Tom Ricketts would prefer nobody talk about this, but the only thing to say in response is "Oh, come on." It would be one thing if the Cubs at least tried to make another run at a superstar as they did with Shohei Ohtani last winter, yet they reportedly never even thought to bother with Juan Soto or Corbin Burnes.

8. Boston Red Sox

Owner: John Henry since February 2002

Net Worth: $6 billion as of 2025

On-Field Performance

Record: 1,978-1,646 (.546 W/L%)

Playoffs: 11 appearances, 4 pennants, 4 World Series

Henry is the owner that generations of Red Sox fans hoped for, but never got. The 86-year Curse of the Bambino ended two years into his ownership, and three more followed in 2007, 2013 and 2018 to cement his status as the franchise's savior.

As such, it is a real drag what has happened in the last six seasons. These have yielded just two winning records and one trip to the playoffs, compared to three last-place finishes. For those who remember, it feels a bit too reminiscent of the bad ol' days.

Financials

Purchase Price vs. Value: $380 million vs. $4.5 billion (3rd in MLB)

2023 Revenues: $500 million (4th in MLB)

Average Payroll Rank: 9.5

2024 Spending vs. Projected 2025 Spending: $13 million decrease

Henry doesn't like chatter about the Red Sox not spending anymore, referring to it in 2023 as a "false narrative."

Is it, though?

Whereas the Red Sox had top-five payrolls basically annually between 2002 and 2020, they have been outside the top 10 in each of the last two seasons and are projected to spend even less in 2025. Given how good this roster could be with just a few more additions, this is an inexcusable development.

7. St. Louis Cardinals

Owner: William DeWitt Jr. since December 1995

Net Worth: $4 billion as of 2020

On-Field Performance

Record: 2,498-2,094 (.544 W/L%)

Playoffs: 17 appearances, 4 pennants, 2 World Series

In 29 seasons under DeWitt, the Cardinals are No. 4 in MLB in wins and have made the playoffs more often than not. And within the postseason, only two teams have St. Louis' 75 wins beat.

This is an extraordinary track record, and even recent history only does so much to taint it. It wasn't long ago that the Cardinals made four straight postseasons between 2019 and 2022, and it speaks to the club's high floor that even an 83-win season in 2024 was a letdown.

Financials

Purchase Price vs. Value: $150 million vs. $2.55 billion (10th in MLB)

2023 Revenues: $372 million (13th in MLB)

Average Payroll Rank: 10.8

2024 Spending vs. Projected 2025 Spending: $35 million decrease

St. Louis is the fifth-smallest market in MLB, so it's no little feat that the Cardinals' value has increased by 1,600 percent since DeWitt bought the team. Or, for that matter, that the team is accustomed to carrying payrolls of respectable size.

This is going to change in 2025, as the Cardinals are transitioning away from John Mozeliak and the old guard to a new guard and Chaim Bloom. Yet this is unequivocally the right move for the franchise, and at least DeWitt isn't strip-mining the roster in the meantime.

6. New York Yankees

Owner: Steinbrenner Family since January 1973

Net Worth: $1.5 billion as of 2025

On-Field Performance

Record: 4,629-3,558 (.565 W/L%)

Playoffs: 30 appearances, 12 pennants, 7 World Series

This legacy technically belongs to all of the Steinbrenner Family, but mostly to the late George Steinbrenner. He was in charge for 10 of those pennants and six of those championships before passing control of the franchise to his children in 2008.

Say what you will about the balance between expectations and reality, but the Yankees haven't been unsuccessful over the last 15 seasons. They lead the American League with 1,424 wins and have made the playoffs 11 times, capturing two pennants and one title.

Financials

Purchase Price vs. Value: $8.8 million vs. $7.55 billion (1st in MLB)

2023 Revenues: $679 million (1st in MLB)

Average Payroll Rank: 2.3

2024 Spending vs. Projected 2025 Spending: $18 million decrease

"The Boss" was worth $1.1 billion when he died in 2010, and his fortune was split four ways between his son, Hal, and his three siblings. It's part of why his net worth is on the light side compared to other prominent MLB owners.

This said, it's no excuse for how the Yankees no longer exert the kind of spending dominance that they used to.

They remain the most valuable, revenue-rich franchise in Major League Baseball, with the Los Angeles Dodgers representing a distant second in both departments. So when Hal groans about $300 million payrolls being unsustainable, take it with a grain of salt.

5. Philadelphia Phillies

Owner: Middleton and Buck Families since October 1981

Net Worth: $4.1 billion as of 2025

On-Field Performance

Record: 3,384-3,412 (.498 W/L%)

Playoffs: 10 appearances, 5 pennants, 1 World Series

Though the Phillies haven't technically undergone an ownership change since 1981, it's more instructive to look at what they've done since Middleton became the franchise's control person in November 2016.

It was a rough start to his reign, but the last three seasons have seen the Phillies win 272 games and go 3-for-3 in making the playoffs.

The core that got the team to the World Series in 2022 is still around and still a championship-caliber unit.

Financials

Purchase Price vs. Value: $30 million vs. $2.925 billion (7th in MLB)

2023 Revenues: $458 million (6th in MLB)

Average Payroll Rank: 10.3

2024 Spending vs. Projected 2025 Spending: $40 million increase

If nothing else can be said of Middleton, he is utterly unafraid to spend. He has greenlit seven contracts of at least nine figures just since 2019, headlined by a then-record $330 million pact with Bryce Harper.

Just in the abstract, this is an owner acting in a way all owners should. And in reality, these deals are a big reason why the Phillies have ascended to a place as one of the powers that be in MLB right now.

4. Houston Astros

Owner: Jim Crane since November 2011

Net Worth: $2.4 billion as of 2025

On-Field Performance

Record: 1,065-938 (.532 W/L%)

Playoffs: 9 appearances, 4 pennants, 2 World Series

There's an alternate history in which Crane and Mark Davis buy the Rangers instead. It's obviously the good thing for Astros fans that this didn't happen, as the team is easily the most successful club in the American League for the last decade.

The sign-stealing scandal of 2017 is an unavoidable part of this legacy, but it must be acknowledged that its revelation was not the sinking of the ship. And even after a run of eight straight ALCS appearances ended in 2024, it is still afloat heading into 2025.

Financials

Purchase Price vs. Value: $465 million vs. $2.425 billion (11th in MLB)

2023 Revenues: $445 million (7th in MLB)

Average Payroll Rank: 16.0

2024 Spending vs. Projected 2025 Spending: $26 million decrease

The payroll average here is skewed by the early years of Crane's ownership, when spending was dramatically scaled back while the club was rebuilding. Spending gradually increased as the wins came, culminating in a franchise-record $235.7 million payroll in 2024.

Yet Crane has his limits, which have kept the Astros out of the top of the free-agent market and cost them incumbent stars like George Springer and Carlos Correa. Responsible, perhaps, but one does wonder how many opportunities have been missed as a result.

3. Atlanta Braves

Owner: Atlanta Braves Holdings, Inc. since February 2007

Market Cap: $2.5 billion as of 2025

On-Field Performance

Record: 1,502-1,310 (.534 W/L%)

Playoffs: 10 appearances, 1 pennant, 1 World Series

The entity that owns the Braves is technically separate from Liberty Media, but it's easier and generally fair game to think of the franchise as having had a continuous ownership group since 2007.

Whatever the case, it's been a good time in general and a downright spectacular time since 2018. The Braves are third in both regular-season and postseason wins for the last seven seasons, with last year marking their first season without a playoff W since 2017.

Financials

Purchase Price vs. Value: $400 million vs. $2.8 billion (8th in MLB)

2023 Revenues: $473 million (5th in MLB)

Average Payroll Rank: 15.4

2024 Spending vs. Projected 2025 Spending: $20 million decrease

This is another case where the average payrolls don't tell the whole story. The Braves have been in MLB's top 10 for payroll for each of the last three seasons, and they are projected to be there again in 2025.

This is despite a general aversion to lucrative free-agent contracts, but nobody can accuse the franchise of not taking care of its own stars.

Save for Freddie Freeman, Dansby Swanson and Max Fried, Atlanta might as well be Extension City, USA. As a philosophy, it's a win-win in that it's responsible and effective in giving fans a consistent cast of characters to get behind.

2. New York Mets

Owner: Steve Cohen since October 2020

Net Worth: $21.3 billion as of 2025

On-Field Performance

Record: 342-306 (.528 W/L%)

Playoffs: 2 appearances

Cohen's four years with the Mets have been hit or miss, producing two exciting playoff runs and two losing seasons. As such, the jury is still out as to whether he has any kind of magic touch as the boss of a baseball team.

Context matters, though. Before Cohen bought the team, Mets fans had to endure 19 seasons under the Wilpons in which "lolMets" was synonymous with particularly embarrassing failures. It's a credit to Cohen that the term now feels outdated.

Financials

Purchase Price vs. Value: $2.42 billion vs. $3 billion (6th in MLB)

2023 Revenues: $393 million (11th in MLB)

Average Payroll Rank: 1.8

2024 Spending vs. Projected 2025 Spending: $5 million decrease

As Cohen is the richest owner in MLB by several orders of magnitude, it would be malpractice if he wasn't sinking truckloads of money into payroll annually.

This is precisely what he has done, of course, and his flexes are only getting more powerful. He has sunk over $1 billion into new contracts just this winter, thereby signaling that he still doesn't give a you-know-what about the so-called "Cohen tax."

Other owners don't like this, with one official even suggesting in 2022 that they're all supposed to be colluding...er, working together. What these owners must understand is that they're the problem, not Cohen.

1. Los Angeles Dodgers

Owner: Mark Walter and Guggenheim Baseball Management since May 2012

Net Worth: $6.2 billion as of 2025

On-Field Performance

Record: 1,215-790 (.606 W/L%)

Playoffs: 12 appearances, 4 pennants, 2 World Series

This is counting the 2012 season, in which the Dodgers won a respectable 86 games. But since the team hasn't won fewer than 90 games in a full season since then, even that sum looks laughably quaint in retrospect.

The Dodgers lead all teams with 1,129 regular-season wins and 64 playoff wins dating back to 2013. They've made it at least as far as the NLCS seven times, and they are the only team to win multiple World Series titles in the 2020s.

Financials

Purchase Price vs. Value: $2 billion vs. $5.45 billion (2nd in MLB)

2023 Revenues: $549 million (2nd in MLB)

Average Payroll Rank: 2.8

2024 Spending vs. Projected 2025 Spending: $51 million increase

The Dodgers were subdued with their spending in the 2010s. Though they consistently ranked among MLB's highest-spending teams, president of baseball operations Andrew Friedman didn't do any nine-figure deals between 2014 and 2019.

The Dodgers have since done eight of those, starting with Mookie Betts' $365 million pact from 2020 and peaking with Shohei Ohtani's $700 million megadeal from last winter. The final bill for the latter came to over $1.4 billion.

An awful lot of the money the Dodgers owe is deferred, but they seem unlikely to run into the same problem the Diamondbacks had back in the day. They're already printing money, and the brand is only growing stronger.

Stats courtesy of Baseball Reference, FanGraphs and Baseball Savant.