NEW YORK (AP) — Forbes’ annual report finds the average value of Major League Baseball teams has increased 7 percent from last year to an all-time high of $523 million.
The New York Yankees, worth $1.7 billion, lead the way for the 14th straight year since Forbes began valuing franchises in 1998.
Only three teams’ values didn’t increase: the New York Mets, San Diego Padres and Cleveland Indians.
The Texas Rangers’ value increased 25 percent as new ownership took over the franchise and it reached its first World Series.