Yankees extend reign as MLB's most valuable team - Forbes

[March 24, 2023]  (Reuters) - The New York Yankees are Major League Baseball's most valuable team for a 25th consecutive year, according to the annual list published by business magazine Forbes on Thursday. 

The traditional logo is painted on the grass as the MLB American League New York Yankees practice for the first time in their new Yankee Stadium in New York, April 2, 2009. REUTERS/Ray Stubblebine

The 27-time World Series champions, which have held the top spot since Forbes began tracking MLB team finances in 1998, were valued at $7.1 billion, up 18% from last year.

The Los Angeles Dodgers ($4.8 billion), Boston Red Sox ($4.5 billion), Chicago Cubs ($4.1 billion) and San Francisco Giants ($3.7 billion) rounded out the top five.

According to Forbes, the average value of MLB's 30 teams rose 12% from last year to $2.32 billion due in part to higher revenue from ticket sales and premium seating like suites and club seats.

The reigning World Series champion Houston Astros were ranked 11th on the list with a value of $2.25 billion, up 14% from last year.

(Reporting by Frank Pingue in Toronto)

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