Forbes Magazine Says New York Yankees the Most Valuable Team

The New York Yankees were rated as the most valuable MLB franchise, by a Forbes magazine list released on Wednesday.

The Yankees retained their number one status, according to Forbes, by being valued at $1.3 billion, up nine percent from last years list. Home town rivals the New York Mets were second on the list, valued at $824 million for an increase of 12 percent. Last year the two New York teams, who are both opening new parks next season, sold some eight million tickets combined.

The Boston Red Sox were third on the list, increasing by 13 percent to $816 million, according to the financial magazine. The Los Angeles Dodgers ($694 million) and the Chicago Cubs ($642 million)made up the other two teams of the top five among the 30 Major League Baseball clubs.

The average club was worth $472 million, an increase of nine percent, Forbes said, also mentioning that the average team was making about $16 million a year in profit.