The New York Yankees continue to hold the title as Major League Baseball’s (MLB) most valuable team, with Forbes reporting that the 27-time World Series winners have become the first baseball franchise to exceed the US$8 billion threshold.

Officially valued at US$8.2 billion, the Yankees have topped Forbes’ rankings for the 27th consecutive year since the list’s inception in 1998. The Los Angeles Dodgers, in second place, saw a 25% increase in value to US$6.8 billion after their latest World Series victory. The Athletics experienced the league’s most significant value jump, soaring 50% to US$1.8 billion as they prepare to relocate to Las Vegas.

Meanwhile, the valuations of the St Louis Cardinals, Seattle Mariners, Tampa Bay Rays, and Colorado Rockies remained unchanged, while the Chicago White Sox saw a 2% decline to US$2 billion. According to Forbes, MLB franchises are now worth an average of US$2.6 billion, marking an 8% rise year-on-year.

Despite the overall increase in franchise values, Forbes notes that many teams are still feeling the repercussions of the regional sports network (RSN) operator Diamond Sports Group’s collapse. Following Diamond’s downfall in 2023 and its rebranding as Main Street Sports Group after emerging from bankruptcy in January, several teams have faced challenges securing new broadcast partners, impacting their local media rights income.

The Yankees’ valuation of US$8.2 billion, a 9% increase from 2024, represents 11.3 times the team’s revenue, with Forbes estimating the franchise earned US$728 million in 2024. However, the value-to-revenue ratios vary greatly across the league, with the Miami Marlins at the lowest end at 3.3 times. Forbes’ figures align with those released by Sportico last week, which valued the Yankees at US$8.39 billion and placed the league average at US$2.82 billion, reflecting a 7% annual increase.

Forbes comments that baseball’s expansion is beginning to trail other sports, noting that over the past five years, NFL teams have seen an average appreciation of 87%, reaching US$5.7 billion, while NBA franchises have skyrocketed 101% to US$4.4 billion. In comparison, MLB teams have grown by 36% in the same period.

Looking ahead, MLB is negotiating a new national TV contract to replace its previous agreement with ESPN, which had an average annual value of US$550 million. NBC Sports has expressed interest in the rights package, which includes 30 regular-season games on Sunday Night Baseball, the entire Wild Card postseason round, opening night, and the Home Run Derby.