New York Yankees worth $2.5 billion: Forbes ranking

NEW YORK -- Forbes ranks the New York Yankees as baseball's most valuable team for the 17th straight year and lists the Tampa Bay Rays with the lowest valuation.

Forbes said Wednesday it estimates the Yankees are worth $2.5 billion, up 9 per cent from last year. The Dodgers are next at $2 billion, a 24 per cent hike and matching their actual sale price in 2012.

Boston was third at $1.5 billion, followed by the Chicago Cubs ($1.2 billion), San Francisco ($1 billion) and Philadelphia ($975 million).

Toronto was ranked 18th out of 30 teams, valued at $610 million.

At the bottom were the Rays ($485 million), Kansas City ($490 million), Oakland ($495 million) and Miami ($500 million).

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