Forbes Magazine updated their Major League Baseball valuations this week, ranking the New York Yankees as the world’s most valuable baseball team. The team is worth $3.7 billion, according to the valuation, ranking only behind the Dallas Cowboys in team value for all sports.
The value of the organization rose 9% over the past year, placing the franchise far above the second place Los Angeles Dodgers which are worth $2.75 billion.
MLB teams saw their values rise by 19% over the last year, with an increase in television revenue and streaming content revenue. The league’s revenue rose to $9.03 billion in 2016, increasing 7.5% on the year.
The next most valuable teams are the Boston Red Sox and Chicago Cubs. The Red Sox had a value of $2.7 billion, while the Cubs came in with a $2.68 billion valuation. The team with the lowest value is the Tampa Bay Rays that were valued at just $825 million.
The teams that are the most valuable in the league tend to spend the most on players, with the Yankees spending $195.3 million per year in salary and the Dodgers spending the most on opening day with a $225.6 million payroll.
The Rays’ operations look even dimmer than initially reported, with Forbes adding $400 – $500 million to each company’s operations. This would put the organizations between the $425 million to $325 million.
The Philadelphia Phillies ranked eighth in their valuation of $1.65 billion, an increase of 34% on the year. Revenue for the team is up to $325 million, with the team’s operating income the highest in the league at $87.7 million.
The Yankees, the highest valued team, makes far less in operating income, earning $39 million.
The Detroit Tigers are among the league’s worst-off teams, with a value of $1.2 billion, $275 million in revenue and a $-36.4 million operating income.