The Washington Nationals fell to $2.1 billion in Forbes 2025 valuations, down 8.7% from $2.3 billion. the Lerner Family-owned franchise underperforms MLB's rising median valuation trend, which gained 6-7% across the league. Weak on-field performance—the Nationals posted a 71-91 record in 2024—and Washington DC's stagnant corporate sponsorship market erode asset value. Competing MLB franchises with contention windows command premium multiples; valuations now price in extended rebuild timelines and reduced postseason revenue visibility.