Forbes magazine has released its latest reports on the valuations of each MLB franchise.

The Royals are valued at an estimated $1.2 billion, according to this year’s MLB franchise value estimates by Forbes magazine. The estimate represents an 8 percent increase over last year’s valuation, and a 20 percent increase over the $1 billion purchase price from when owner John Sherman acquired the club in November of 2019.

However, that puts the Royals 27th overall in MLB in value.

According to Forbes, only three MLB franchises are worth less than the Royals – the Reds, Athletics, and Marlins. Overall, MLB franchises increased 12 percent in valuation, despite uncertainty over the broadcasting landscape. Diamond Sports Group, which holds the broadcast rights to 14 teams, including the Royals, filed for bankruptcy earlier this month.

Royals owner John Sherman indicated his desire to move the team downtown in a letter to fans last fall, a move that could produce more revenues and make the team even more valuable. He is asking for a $2 billion ballpark district that would include restaurants, shopping, hotels, and housing, with private financing for the district portion of the project, but there have been no details yet on how much of the project would be publicly financed.

It would basically become the equivalent of Ballpark Village (St. Louis), but for Kansas City. Perhaps, maybe, even on a more grand-scale.

Sherman has said that “whatever revenue that we grow through the development of this ballpark of the district, we’re going to put it on the field to make ourselves more competitive.”

And while the team drew $54 million in gate receipts, the Royals only drew 1.277 million fans last year, their lowest in an non-strike season since 1975.