New York Yankees' Hideki Matsui hits a single in the first inning of their MLB baseball game against the Boston Red Sox at Fenway Park in Boston, Massachusetts April 11, 2008.
(REUTERS/Brian Snyder)
Yankees top MLB valuation list, Forbes magazine says
New York Yankees' Hideki Matsui hits a single in the first inning of their MLB baseball game against the Boston Red Sox at Fenway Park in Boston, Massachusetts April 11, 2008.
(REUTERS/Brian Snyder)
NEW YORK (Reuters) - The New York Yankees were rated as the most valuable Major League Baseball franchise, by a Forbes magazine list released on Wednesday.
The Yankees retained their number one status, according to Forbes, by being valued at $1.3 billion, up nine percent from their list compiled last year.
Cross-town rivals New York Mets were second on the list, worth $824 million for an increase of 12 percent.
Last year the two New York teams, who are both opening new parks next season, sold some eight million tickets combined.
The Boston Red Sox were a close third on the list, increasing by 13 percent to $816 million, according to Forbes.
The Los Angeles Dodgers ($694 million) and the Chicago Cubs ($642 million) rounded out the top five among the 30 Major League Baseball clubs.
The average club was worth $472 million, an increase of nine percent, the magazine said, adding that the average team was making $16 million a year in profit.
(Writing by Larry Fine, Editing by Clare Lovell)
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