Forbes values Yankees at $2.3 billion

Forbes estimated the New York Yankees have the highest value in

Major League Baseball for the 16th straight year at $2.3 billion,

and the average for an MLB team increased by 23 percent in the last

year to $744 million.

The magazine said Wednesday the Yankees’ value increased from

$1.85 billion last year.

The Los Angeles Dodgers are second in MLB at $1.62 billion –

nearly $400 million below the price paid for the team last May when

a group headed by Mark Walter, Stan Kasten and Magic Johnson bought

the franchise from Frank McCourt.

Forbes valued Boston third at $1.3 billion, followed by the

Chicago Cubs ($1 billion), Philadelphia ($893 million), the New

York Mets ($811 million), San Francisco ($786 million), Texas ($764

million), the Los Angeles Angels ($718 million) and St. Louis ($716

million).

The bottom five are Tampa Bay ($451 million), Kansas City ($457

million), Oakland ($468 million), Pittsburgh ($479 million) and

Miami ($520 million).