News

Yankees named MLB’s ‘most valuable’ team

Yankees named MLB’s ‘most valuable’ team

M.V.T.: The Yankees are the leagues' most valuable. Photo: Reuters

(Reuters) – The New York Yankees are Major League Baseball’s most valuable team for a 17th consecutive year, coming in at more than triple the league’s average value, according to a survey released by Forbes on Wednesday.

The 27-time World Series champion Yankees were valued at $2.5 billion, a nine percent jump from last year and comfortably above the second ranked Los Angeles Dodgers, whose value rose 24 percent to $2 billion due largely to a new television deal.

The Yankees, who last year missed the playoffs for only the second time since 1994 and saw their revenue dip 2 percent to an MLB-high $461 million, have topped the list since Forbes began tracking MLB team valuations in 1998.

The 2013 World Series champion Boston Red Sox ($1.5 billion), Chicago Cubs ($1.2 billion) and San Francisco Giants ($1 billion) rounded out the top five. It marked the first time five MLB teams were worth at least $1 billion.

The average MLB team is now worth $811 million, up nine percent from last year, which Forbes attributed to television deals..

(Reporting by Frank Pingue in Toronto; Editing by Julian Linden)

Recent Headlines

in National

U.S., Cuba to restore diplomatic relations after 50 years

alangross

The major policy shift will end decades of hostile ties with the communist-ruled island.

in National

Menus will sport new calorie labels for alcohol

alcoholcalories

Restaurant drinkers will soon know how many calories are in their margarita or craft beer.

in National

113th Congress ends with more fights than feats

mcconnell

Congress has limped out of Washington, capping two years of legislating that was overshadowed by partisan clashes.

in National

Obamacare enrollment tops 2.5M

obamacare

Officials said demand for the health insurance plans jumped during the final week of 2015 open enrollment.

in Sports

Wednesday’s Sports Minute

grizzlies

A look at the big sports stories making news today, Wednesday, Dec. 17. GRIZZLIES HALT WARRIORS’ WIN STREAK The Golden…