New York Yankees top Forbes list at $3.7 billion

New York Yankees top Forbes list at $3.7 billion

New York Yankees top Forbes list at $3.7 billion

Even though the Phillies were in the bottom of the standings last year and may very well be there again this year, their value is still on the rise. Since George Steinbrenner bought the team in 1973, the Yankees have increased in value by 6,627 percent according to Forbes. The New York Mets also cross the $2 billion mark.

That added capital should work wonders for the team over the next two decades.

Major League Baseball's average team value rose 19 percent to $1.54 billion.

While Forbes estimated that the Padres' revenue increased 6.1 percent a year ago to $259 million, the magazine also says operating income declined 30.7 percent to $22.8 million, a range last seen in 2011.

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According to the list released Tuesday, the Yanks are worth $3.7 billion, which puts them ahead of the Los Angeles Dodgers ($2.75 billion), Boston Red Sox ($2.7 billion) and Chicago Cubs ($2.675 billion).

The Yankees were ranked as the most valuable franchise - no surprise there - at $3.7 billion. During the 2016 season, baseball's 30 teams posted an average operating income (earnings before interest, taxes, depreciation and amortization) of $34 million, 52% more than the 2015 season (the previous record).

The Yankees' AL East rival, the Tampa Bay Rays, were ranked the least valuable franchise in baseball at a mere $825 million. With revenue increasing faster than costs, many teams are in the black right now.

The article also lists Seattle as having the 12th highest payroll on opening day.

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