Forbes: Yankees worth MLB-best $3.7 billion

The Yankees are again MLB's highest valued team.

The New York Yankees are Major League Baseball's highest valued team for the 20th straight season, according to Forbes.

The Yankees are worth $3.7 billion, up 9% from last year. No other team has been No. 1 on this season since Forbes started it 20 years ago.

The Los Angeles Dodgers, who have baseball's highest payroll, are second on the list, and are worth an estimated $2.75 billion. The Boston Red Sox ($2.7 billion), the world champion Chicago Cubs ($2.675 billion), and San Francisco Giants ($2.65 billion) round out the top five.

The average MLB team is now worth $1.54 billion, an increase of 19% from a year ago. The increase is due to escalating television deals, profitability surges, and the value of Major League Baseball Advanced Media.

According to Forbes, the Detroit Tigers, Dodgers, Miami Marlins, Baltimore Orioles, and Kansas City Royals operated at a loss last season.

The Tampa Bay Rays are MLB's lowest valued team, one of seven franchises not worth $1 billion or more.

- Scooby Axson