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

in Viral Videos

WATCH: Chris Farley in ‘Mission: Impossible – Rogue Nation’

13-overlay19

This mashup is both hilarious and impressive.

in Entertainment

Facebook has an heiress

facebook

Mark Zuckerberg and his wife, Priscilla Chan, are expecting their first child.

in Entertainment

TV: What’s new on Netflix, Amazon & Hulu

netflix

August is shaping up to be a good month for streaming some hit movies and the TV series you've been meaning to check out.

in Entertainment

REVIEW: Strong cast helps ‘Rogue Nation’ create a blast of entertainment

20-overlay10

In the latest installment of the "Mission: Impossible" franchise, Tom Cruise may have finally found a marriage that will work.

in Music

Yoko Ono unveils Ellis Island tapestry dedicated to John Lennon

24-overlay19

The tapestry was commissioned by Art For Amnesty to thank Ono for donating royalties from covers of Lennon's solo songs to Amnesty International.