Forbes ranked the Red Sox as baseball’s third-most valuable team, with the defending World Series champs boasting a current value of $1.5 billion.

The Yankees ($2.5 billion) are Major League Baseball’s most valuable team for a 17th-straight year, followed by the Los Angeles Dodgers ($2 billion).

Advertisement - Continue Reading Below

“For the first time,” Mike Ozanian writes, “there are five teams–each with lucrative deals with regional sports networks–worth at least $1 billion.” The other two teams to fall under that umbrella are the Chicago Cubs ($1.2 billion) and the San Francisco Giants ($1 billion).

No surprise that the Tampa Bay Rays are baseball’s least valuable team with a worth of $485 million. Joining them at the bottom were Kansas City ($490 million) , Oakland ($495 million) and Miami ($500 million).

The Yankees’ value represents a nine percent hike from last year, while the Dodgers have seen a 24 percent jump, matching their actual sale price from 2012.

Major League Baseball’s average team value rose 9 percent to $811 million. Forbes says values rose primarily because of increased media rights fees.