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

2 hours ago in Entertainment

OPENING WEEKEND: ‘Captain America: Civil War’ is finally here

10-overlay

Here's a look at some of the films set to open this weekend.

3 hours ago in Lifestyle, National

Anti-hunger group uses fake app to fool, educate

18-overlay

The U.S. Department of Agriculture estimates 14 percent of Americans, or more than 17 million people, are what is called food insecure, meaning at times of the year, they are uncertain of being able to acquire enough food for their household.

5 hours ago in Music

Keith Urban says his ‘life began’ when he got married

keithurban

In a wide-ranging interview, during which Keith discusses his new album, "Ripcord," and his family life with Nicole, he revealed how life-changing it was when he first met the actress.

7 hours ago in Lifestyle

Emma and Noah continue to be tops for baby names

baby

When it comes to baby names, Americans seem to be somewhat united.

8 hours ago in Entertainment, Sports

Kobe Bryant’s ‘Dear Basketball’ to get Disney treatment

KOBE472419167185

Kobe Bryant's farewell poem to basketball is going to be turned into a short film.