The New York Yankees are worth $7.1 billion, up 18 percent over a year ago, as Major League Baseball's most valuable franchise, according to the annual report by Forbes released Thursday.

The Yankees have topped Forbes' list every year since the outlet first released the list in 1998.

Overall, MLB team values increased by an average of 12 percent from the 2021 list.

The Los Angeles Dodgers rank second behind the Yankees at a worth of $4.8 billion. The Boston Red Sox ($4.5B), Chicago Cubs ($4.1B) and San Francisco Giants ($3.7B) round out the top five.

The Miami Marlins came in last with a value of $1 billion. The Oakland Athletics ($1.18B) and Cincinnati Reds ($1.19B) are Nos. 29 and 28, respectively.

The last MLB team to be sold was the New York Mets, bought by Steve Cohen for $2.42 billion in November 2020. The Mets are No. 6 on Forbes' latest list, with a worth of $2.9 billion.