Forbes list of the most valuable MLB teams

Forbes MLB Team Valuations
Company type	Annual ranking
Industry	Sports finance
Founded	1998
Area served	Major League Baseball teams
Products	MLB franchise valuations
Website	www.forbes.com/mlb-valuations/

Adapted from the English Wikipedia article Forbes list of the most valuable MLB teams, available under CC BY-SA 4.0Updated 11 August 2025

Forbes publishes an annual evaluation ranking all 30 MLB teams based on their franchise valuations. This assessment considers factors such as the financial aspects of the sport, market dynamics, stadium agreements, and overall brand value. Key financial indicators, including debt levels and operating income, underpin these valuations.

The most recent report reaffirms the New York Yankees as the highest-valued MLB franchise, experiencing a 50% surge in valuation since the 2017 MLB season, increasing from $4 billion to $6 billion. The Yankees have consistently held the premier position since Forbes initiated these rankings following the 1998 MLB season.

These rankings are regularly examined and cited by media organizations such as USA Today and Yahoo!. Although MLB references Forbes' valuations within its financial disclosures, it stops short of officially endorsing them. The listings also shed light on industry-wide patterns, including the economic disparities evident during the 2021–22 MLB lockout, where franchise owners saw revenue growth while players endured diminished earnings amid rising team values.

Data following the lockout indicates that nearly every MLB franchise has appreciated in value, yet MLB's growth rate remains comparatively modest relative to other major North American sports leagues like the NFL and MLS.

Ranking

Rankings current as of March 23, 2023 (2022 MLB season)

Rank	Swing^{[lower-alpha 1]}	Team	State/ Province	Value^{[lower-alpha 2]}	Change^{[lower-alpha 3]}	Debt^{[lower-alpha 4]}	Revenue^{[lower-alpha 5]}	Operating Income^{[lower-alpha 6]}
Template:No.		New York Yankees	Template:Country data New York	$7.1 billion	54.3%	0%	$657 million	$16 million
Template:No.		Los Angeles Dodgers	Template:Country data California	$4.8 billion	45.5%	9%	$581 million	$14 million
Template:No.		Boston Red Sox	Template:Country data Massachusetts	$4.5 billion	40.6%	0%	$513 million	$72 million
Template:No.		Chicago Cubs	Template:Country data Illinois	$4.1 billion	32.3%	10%	$451 million	$57 million
Template:No.		San Francisco Giants	Template:Country data California	$3.7 billion	23.3%	4%	$421 million	$75 million
Template:No.		New York Mets	Template:Country data New York	$2.9 billion	26.1%	16%	$374 million	–$138 million
Template:No.	2	Los Angeles Angels	Template:Country data California	$2.7 billion	42.1%	0%	$371 million	$36 million
Template:No.	4	Atlanta Braves	Template:Country data Georgia (U.S. state)	$2.6 billion	52.9%	18%	$425 million	$51 million
Template:No.	1	Philadelphia Phillies	Template:Country data Pennsylvania	$2.575 billion	35.5%	5%	$398 million	–$3.7 million
Template:No.	3	St. Louis Cardinals	Template:Country data Missouri	$2.55 billion	21.4%	8%	$358 million	$43 million
Template:No.		Houston Astros	Texas	$2.25 billion	25%	13%	$407 million	$44 million
Template:No.	1	Texas Rangers	Texas	$2.225 billion	30.9%	31%	$366 million	$58 million
Template:No.	2	Seattle Mariners	Template:Country data Washington	$2.2 billion	37.5%	9%	$363 million	$86 million
Template:No.	2	Toronto Blue Jays	Template:Country data Ontario	$2.1 billion	40%	0%	$294 million	–$34 million
Template:No.	1	Chicago White Sox	Template:Country data Illinois	$2.05 billion	28.1%	7%	$276 million	–$53 million

Composition

Tampa Bay Rays │ $1 .25 B │ 585 M │ 404 M │ 138 M │ 123 M Kansas City Royals │ $1 .2 B │ 504 M │ 385 M │ 197 M │ 114 M Cincinnati Reds │ $1 .19 B │ 492 M │405 M │170 M │123 M Oakland Athletics│ $1 .18 B │490 M │421 M │147 M │122 M Miami Marlins│ $1 B │505 M │281 M │114 M │100 M

Team	Total Value	Sport Revenue	Market Value	Stadium Worth	Brand Equity
New York Yankees	$7.1 billion	$735 million	$3.466 billion	$1.929 billion	$970 million
Los Angeles Dodgers	$4.8 billion	$558 million	$2.449 billion	$1.062 billion	$731 million
Boston Red Sox	$4.5 billion	$609 million	$2.067 billion	$1.197 billion	$626 million
Chicago Cubs	$4.1 billion	$544 million	$1.897 billion	$1.144 billion	$515 million
San Francisco Giants	$3.7 billion	$609 million	$1.630 billion	$992 million	$469 million
New York Mets	$2.9 billion	$614 million	$1.186 billion	$696 million	$404 million
Los Angeles Angels	$2.7 billion	$542 million	$1.286 billion	$537 million	$334 million
Atlanta Braves	$2.6 billion	$417 million	$1.188 billion	$650 million	$345 million
Philadelphia Phillies	$2.575 billion	$483 million	$1.208 billion	$528 million	$355 million
St. Louis Cardinals	$2.55 billion	$534 million	$1.092 billion	$580 million	$344 million
Houston Astros	$2.25 billion	$390 million	$1.012 billion	$563 million	$285 million
Texas Rangers	$2.225 billion	$448 million	$973 million	$505 million	$299 million
Seattle Mariners	$2.2 billion	$522 million	$1.003 billion	$405 million	$269 million
Toronto Blue Jays	$2.1 billion	$566 million	$852 million	$430 million	$252 million
Chicago White Sox	$2.05 billion	$588 million	$830 million	$383 million	$249 million
Washington Nationals	$2 billion	$445 million	$834 million	$506 million	$216 million
San Diego Padres	$1.75 billion	$472 million	$678 million	$391 million	$210 million
Baltimore Orioles	$1.713 billion	$754 million	$591 million	$188 million	$180 million
Milwaukee Brewers \| \| 605M \| \| 543M \| 359M \| 171M
Colorado Rockies \| \| 491M \| \| 569M \| 253M \| 162M
Detroit Tigers \| \| 530M \| \| 536M \| 216M \| 167M
Minnesota Twins \| \| 537M \| \| 481M \| 231M \| 141M
Arizona Diamondbacks \| \| 521M \| \| 503M \| 210M \| 146M
Pittsburgh Pirates \| \| 564M \| \| 452M \| 168M \| 136M
Cleveland Guardians \| \| 501M \| \|471 M │175 M │153 M │

Historical valuations

MLB team valuations over time (in US dollars, millions)
Team	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
New York Yankees	7,100	6,000	5,300	5,000	4,600	4,000	3,700	3,400	3,200	2,500	2,300
Los Angeles Dodgers	4,800	4,075	3,600	3,400	3,300	3,000	2,800	2,500	2,400	2,000	1,600
Boston Red Sox	4,500	3,900	3,500	3,300	3,200	2,800	2,700	2,300	2,100	1,500	1,300
Chicago Cubs	4,100	3,800	3,400	3,200	3,100	2,900	2,700	2,200	1,800	1,200	1,000
San Francisco Giants	3,700	3,500	3,200	3,100	3,000	2,900	2,700	2,300	2,000	1,000	786
New York Mets &&& ... &&& ... &&& ... &&& ... &&& ... &&& ... &&& ... &&& ... &&& ... &&& ... &&& ...

References

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Ranking

Composition

Historical valuations

See also

References

Related profiles