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There are a lot of numbers to digest here, so allow me to offer an explanation.
Total Net Value was the ultimate factor in determining where each team landed in the rankings and was calculated as follows:
Step 1: I found each player’s WAR total for the 2024 season, courtesy of Baseball Reference.
Step 2: Based on the FanGraphs value metric, 1.0 WAR was again worth around $8 million in 2024. So from there, each player’s WAR from Step 1 was multiplied by eight to give us the player’s 2024 value in millions of dollars.
Step 3: Each player’s 2024 salary was then subtracted from his 2024 value, resulting in his 2024 net value. Player salaries came from the team pages of Spotrac.
Formula: (2024 WAR x 8) – 2024 salary = net value
After that, the cumulative net values of all players who were part of the MLB payroll at any point in 2024 were totaled to determine each team’s total net value.
Included is a look at each team’s five best and five worst values, along with a few bullet points for each club made up of notable observations.