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Yankees Most Valuable Team in MLB, Forbes List Shows

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Starlin Castro #14 of the New York Yankees celebrates his two run home run in the eigth inning against the Tampa Bay Rays during the New York Yankees home Opening game at Yankee Stadium on April 10, 2017, in New York City. (Al Bello/Getty Images)

By    |   Tuesday, 11 Apr 2017 02:48 PM

Forbes has ranked the New York Yankees as the most valuable Major League Baseball team in its latest valuation, which showed teams on average saw their value increase 19 percent since last year.

The Yankees are valued at $3.7 billion, according to Forbes, more than double the average MLB team value of $1.54 billion. The team has topped the rankings for the past 20 years, and was the second-highest sports team overall in the U.S. after the NFL’s Dallas Cowboys, which are worth $4.2 billion.

The Yankees increased their value 9 percent since last season, even though attendance has dropped 10 percent in the last two years and 18 percent since the new stadium was built in 2009, Forbes reported.

Major League Baseball has seen its team values increase across the board because of television deals and the growth of MLB Advanced Media, of which each team owns a part, according to CBS Sports.

Other valuable franchises include the Los Angeles Dodgers at a worth of $2.75 billion, the Boston Red Sox at $2.7 billion, and the Chicago Cubs at $2.68 billion.

The lowest ranked teams by value were the Oakland Athletics at $880 million and the Tampa Bay Rays at $825 million. Both franchises are currently looking for new ballparks, which should help increase their revenue and value, CBS Sports noted.

According to Bleacher Report, the Steinbrenner family, who owns the Yankees, has received a 6,627 percent return on its initial investment in the team.

The Yankees were the only team in Forbes' Top 5 that didn’t qualify for the playoffs in 2016. A team valued in the Top 5 has won the World Series the last seven out of 10 years, Bleacher Report said.

Some Twitter users commented on the fact that the Yankees ranked so highly despite not making the playoffs or winning lately.

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Forbes has ranked the New York Yankees as the most valuable Major League Baseball team in its latest valuation, which showed teams on average saw their value increase 19 percent since last year.
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Tuesday, 11 Apr 2017 02:48 PM
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