Yankees worth $1.6 billion; Boston 2nd at $870 mil

The New York Yankees are worth nearly twice as much as any other
team in baseball, according to the annual estimates by Forbes

The Yankees were valued at $1.6 billion, Forbes said Wednesday,
up 7 percent from a $1.5 billion value last year. The magazine said
the team had $441 million in net revenue in the first season at its
new ballpark after paying to baseball’s revenue sharing program and
financing the stadium.

Boston was next, going up 4 percent to $870 million and was
followed by the New York Mets, who dropped 6 percent to $858
million following a 70-92 record in their first season at Citi
Field. Forbes projected the Mets’ stadium revenue will decline by
$20 million this year.

The Los Angeles Dodgers, caught in divorce proceedings of owners
Frank and Jamie McCourt, were fourth with a 1 percent increase to
$727 million, $1 million more than the Chicago Cubs under new owner
Tom Ricketts.

Florida, which moves into a new ballpark in 2012, had the
largest percentage rise, increasing 15 percent to $317 million.
Minnesota had a 14 percent jump to $405 million following its move
this year to Target Field.

Pittsburgh was last at $289 million, just below Oakland, which
dropped 8 percent to $295 million. The average worth was up 2
percent to $491 million.

Florida, at $144 million, and Pittsburgh at $145 million were
estimated to have the lowest net revenue.

The Marlins had the highest operating profit, Forbes said, at
$46.1 million, followed by Boston at $40 million. The only teams
were operating losses were Detroit at $29.5 million and Arizona at

Forbes estimated the 30 teams combined for record operating
income of $522 million before interest, taxes, depreciation and
amortization, an average of $17.4 million per team.

Texas, in the process of being sold from Tom Hicks to Chuck
Greenberg, had the highest estimated debt-to-value ratio, 105
percent, followed by the Yankees (89 percent), Mets (81 percent)
and Cubs (80 percent). Minnesota and Toronto were listed with no

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