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.

Alabama's Governor Resigns Amid Scandal Over Affair And Cover-Up
Bentley now officially out of office, many in the state are making preparations for political life under a new governor: Kay Ivey. Now, she's the first female governor of the state since Lurleen Wallace in 1986, but under largely different circumstances.

Homeland Security chief backtracks on splitting families
According to Kelly, 1 million people come into the USA every day, and nearly half of them are subject to device searches. This undated rendering provided by DarkPulse Technologies Inc. shows a proposed border wall between Mexico and the U.S.

North Korea fires ballistic missile into its eastern waters
The new missile could cover all of North Korea , even when fired from the southern part of the country, it said. Both agreed to push forward the deployment of THAAD by US forces in Korea", the statement said.

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.

Related news