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

Apple sets iPhone sales record

apple

Currently on sale in the U.S., Japan, and France, the iPhone 6 will go on sale in 20 more countries this week.

in National, World

Islamic State urges attacks on U.S., taunts Obama

isis

ISIS urged its followers to attack citizens from the U.S. and other countries that joined a coalition to destroy the ultra-radical group.

in Sports

Fowler cuts a dash with USA hairstyle

fowler

Rickie Fowler raised a few eyebrows when he showed off the letters 'USA' shaved into the side of his head during practice on Monday.

in Lifestyle

More Americans see influence of religion waning

religion2

Nearly three-quarters of the public think religion is losing influence in American life, according to a poll released on Monday.

in National

Climate protesters risk arrest during Wall Street sit-in

climate

Hundreds of protesters marched through NYC's financial district calingl attention to capitalism's contribution to climate change.