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 National

Volkswagen CEO faces tough questions in congressional hearing


Volkswagen's cheating on emissions with the use of software in diesel cars was not a corporate decision, but something that "individuals did," its U.S. chief executive says.

in National

McCarthy drops out of race for House speaker, election postponed


McCarthy had been the favorite to be selected as the official party choice to replace John Boehner.

in Sports

NFL: More in Europe, and maybe L.A. as well


You are going to see more NFL games played overseas.

in Sports

Blatter, Platini suspended from soccer by FIFA’s ethics body


FIFA President Sepp Blatter and his possible successor, European soccer chief UEFA Michel Platini, have been provisionally suspended for 90 days, the ethics committee of football's global governing body said.

in Sports

PREVIEW: 2015 Presidents Cup


The 2015 President's Cup kicks off in Incheon, South Korea today.