Forbes: Average MLB team values up 16 percent



NEW YORK (AP) -- Forbes' annual report finds the average value of Major League Baseball teams has increased 16 percent from last year to an all-time high of $605 million.

The New York Yankees, worth $1.85 billion, lead the way for the 15th straight year since Forbes began valuing franchises in 1998.

Only two teams' values didn't increase: the New York Mets and the Tampa Bay Rays.

The Los Angeles Dodgers were second at $1.4 billion -- an increase of 75 percent over last year -- in the report released Wednesday. The Boston Red Sox, Chicago Cubs and Philadelphia Phillies round out the top five.

The Mets lost 4 percent of their value amid legal and debt problems but are still sixth on the list at $719 million.