News

Yankees named MLB’s ‘most valuable’ team

Yankees named MLB’s ‘most valuable’ team

M.V.T.: The Yankees are the leagues' most valuable. Photo: Reuters

(Reuters) – The New York Yankees are Major League Baseball’s most valuable team for a 17th consecutive year, coming in at more than triple the league’s average value, according to a survey released by Forbes on Wednesday.

The 27-time World Series champion Yankees were valued at $2.5 billion, a nine percent jump from last year and comfortably above the second ranked Los Angeles Dodgers, whose value rose 24 percent to $2 billion due largely to a new television deal.

The Yankees, who last year missed the playoffs for only the second time since 1994 and saw their revenue dip 2 percent to an MLB-high $461 million, have topped the list since Forbes began tracking MLB team valuations in 1998.

The 2013 World Series champion Boston Red Sox ($1.5 billion), Chicago Cubs ($1.2 billion) and San Francisco Giants ($1 billion) rounded out the top five. It marked the first time five MLB teams were worth at least $1 billion.

The average MLB team is now worth $811 million, up nine percent from last year, which Forbes attributed to television deals..

(Reporting by Frank Pingue in Toronto; Editing by Julian Linden)

Recent Headlines

8 mins ago in Entertainment

TV producers may start making you wait for new shows online

Fresh
hulu

Cord-cutters beware: You might have to wait longer for new TV.

1 hour ago in Music

Peter Cetera turns down Chicago Hall of Fame induction

Fresh
petercetera

Cetera quit the band in 1985 but fans were hoping for a reunion this spring.

1 hour ago in Music

Billy Gibbons starring in reality TV series

Fresh
billygibbons

The ZZ Top star is headed to TV in a series about restoring classic cars.

1 hour ago in Entertainment

‘Orange is the New Black’ star sues NYC

Fresh
tarynmanning

Taryn Manning is suing the city of New York, accusing police officers of wrongfully arresting her in 2014.

2 hours ago in Entertainment, Sports

Super Bowl fans bet record $132.5 million at Nevada casinos

Fresh
Denver Broncos’ Peyton Manning, center right, holds the trophy after the NFL Super Bowl 50 football game against the Carolina Panthers, Sunday, Feb. 7, 2016, in Santa Clara, Calif. The Broncos won 24-10.  (AP Photo/Matt Slocum)

Denver were a 5-1/2-point underdog to top-seeded Carolina ahead of Sunday's game in Santa Clara, California, but used a ferocious defense to pull out a 24-10 victory.