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How much are the Padres worth?

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Forbes has released their annual MLB team valuations. The Padres come in 16th with a value of $367 million. The more interesting number is is their operating income, which is the second lowest in the major leagues next to the Yankees, who are perfectly willing to throw money out the window in the name of baseball.

I know that this valuation includes teams' respective ballpark deals, but I'm trying to figure out if it also includes television, which I imagine is where the Padres are taking their biggest hit. The big money in baseball nowadays is online and in regional sports networks and their deal with Cox dings them a little in both areas.

The Padres also have a debt/value ratio of 48%, which is actually OK, because, as we all know, saving money is for suckers.

All in all, my assessment of this is that the Padres will not be getting Ichiro or anybody of that caliber anytime soon. My curious mind wonders how much of the MLBAM money is being reinvested in the team though. It seems that a lot of teams were able to open up the purse strings this season. Is this part of the wallet that Moores is keeping separate from the team? I can understand the real estate being kept in a seperate pocket, but if we're seeing good chunks of MLBAM money, then I want to see good chunks of it spent on the field.