Forbes: Yankees worth big league-high $3.7 billion
ABS-CBN Sports on Apr 12, 2017 10:54 AM
New York Yankees' Starlin Castro, right, celebrates his two-run homer with Chase Headley during the eighth inning of the baseball game against the Tampa Bay Rays at Yankee Stadium, Monday, April 10, 2017, in New York. The Yankees defeated the Rays 8-1. (AP Photo/Seth Wenig)NEW YORK (AP) — Forbes ranks the New York Yankees as baseball's most valuable team for the 20th straight year and lists the Tampa Bay Rays with the lowest valuation.
Forbes said Tuesday it estimates the Yankees are worth $3.7 billion, up 9 percent from last year. The Dodgers are next at $2.75 billion, a 10 percent increase.
Boston was third at $2.7 billion, followed by the Chicago Cubs ($2.675 billion), San Francisco ($2.65 billion) and New York Mets ($2 billion).
At the bottom were the Rays ($825 million), Oakland ($880 million), Cincinnati ($915 million) and Cleveland ($920 million).
Major League Baseball's average team value rose 19 percent to $1.54 billion. Forbes says values increased because of new local television deals, as well as a "surge in profitability."