Forbes list of the most valuable MLB teams

Forbes compiles the finances of all 30 MLB teams to produce an annual ranking of the best franchises in terms of valuation. The valuations are composed of the monetary worth of the sport, market, stadium deals, and brand. These areas are supported by applying financial metrics such as debt and operating income to each one.

The latest ranking reported that the New York Yankees are the most valuable MLB franchise. The Yankees have held the crown for the most valuable MLB franchise since the inaugural ranking in 1998 and are now worth an estimated $8.2 billion. The fastest growing MLB franchise is the Athletics, with a 50% increase in valuation to $1.8 billion, even though they are playing in a minor league ballpark in West Sacramento for three seasons prior to their move to Las Vegas.

Several media outlets have referenced in related news or conducts analytic journalism when the ranking comes out, such as USA Today and Yahoo!. MLB has recognized the renditions of the ranking in financial documents, although not publicly. The report has also applied more context to MLB trends, such as the root of the 2021–22 MLB lockout being that owners were getting more money while players/employees were getting less despite growing valuations. This was further illustrated by the next edition of the ranking after the lockout, where nearly every MLB franchise has been growing, although MLB is decidedly the slowest among the "Big Four" leagues along with MLS.

Ranking Rankings as of June 10, 2025 (2025 MLB season) Rank Swing Team State/Province Value Change Revenue Operating income 1 New York Yankees $8.2 billion 9% $728 million 2 Los Angeles Dodgers $6.8 billion 25% $752 million $21 million 3 Boston Red Sox $4.8 billion 7% $574 million $120 million 4 Chicago Cubs $4.6 billion 9% $584 million $81 million 5 San Francisco Giants $4 billion 5% $448 million –$24 million 6 New York Mets $3.2 billion 7% $444 million 7 2 Philadelphia Phillies $3.1 billion 6% $519 million $9 million 8 Atlanta Braves $3 billion 7% $510 million –$3 million 9 2 Houston Astros $2.8 billion 16% $494 million $11 million 10 3 Los Angeles Angels $2.75 billion 2% $410 million $40 million 11 1 St. Louis Cardinals $2.55 billion 0% $373 million $7 million 12 Texas Rangers $2.45 billion 2% $406 million –$38 million 13 Seattle Mariners $2.2 billion 0% $379 million $43 million 14 Toronto Blue Jays $2.15 billion 2% $387 million –$60 million 15 1 Washington Nationals $2.1 billion 5% $325 million $0 16 1 Chicago White Sox $2 billion 2% $277 million –$41 million 17 San Diego Padres $1.95 billion 10% $432 million $32 million 18 Baltimore Orioles $1.9 billion 10% $366 million $65 million 19 10 Athletics $1.8 billion 50% $257 million $23 million 20 1 Milwaukee Brewers $1.7 billion 6% $335 million $24 million 21 2 Arizona Diamondbacks $1.6 billion 12% $328 million –$33 million 22 1 Detroit Tigers $1.55 billion 7% $320 million $30 million 23 1 Minnesota Twins $1.5 billion 3% $324 million $5 million 24 4 Colorado Rockies 0% $318 million –$22 million 25 Cleveland Guardians $1.4 billion 4% $336M $11 million 26 2 Pittsburgh Pirates $1.35 billion 2% $326 million $47 million 27 1 Cincinnati Reds $1.325 billion 6% $325 million $29 million 28 1 Kansas City Royals $1.3 billion 6% $324 million $6 million 29 3 Tampa Bay Rays $1.25 billion 0% $297 million $32 million 30 Miami Marlins $1.05 billion 5% $317 million $38 million

Composition

Team Value Sport Market Stadium Brand New York Yankees $7.1 billion $0.735 billion $3.466 billion $1.929 billion $0.970 billion Los Angeles Dodgers $4.8 billion $0.558 billion $2.449 billion $1.062 billion $0.731 billion Boston Red Sox $4.5 billion $0.609 billion $2.067 billion $1.197 billion $0.626 billion Chicago Cubs $4.1 billion $0.544 billion $1.897 billion $1.144 billion $0.515 billion San Francisco Giants $3.7 billion $0.609 billion $1.630 billion $0.992 billion $0.469 billion New York Mets $2.9 billion $0.614 billion $1.186 billion $0.696 billion $0.404 billion Los Angeles Angels $2.7 billion $0.542 billion $1.286 billion $0.537 billion $0.334 billion Atlanta Braves $2.6 billion $0.417 billion $1.188 billion $0.650 billion $0.345 billion Philadelphia Phillies $2.575 billion $0.483 billion $1.208 billion $0.528 billion $0.355 billion St. Louis Cardinals $2.55 billion $0.534 billion $1.092 billion $0.580 billion $0.344 billion Houston Astros $2.25 billion $0.390 billion $1.012 billion $0.563 billion $0.285 billion Texas Rangers $2.225 billion $0.448 billion $0.973 billion $0.505 billion $0.299 billion Seattle Mariners $2.2 billion $0.522 billion $1.003 billion $0.405 billion $0.269 billion Toronto Blue Jays $2.1 billion $0.566 billion $0.852 billion $0.430 billion $0.252 billion Chicago White Sox $2.05 billion $0.588 billion $0.830 billion $0.383 billion $0.249 billion Washington Nationals $2 billion $0.445 billion $0.834 billion $0.506 billion $0.216 billion San Diego Padres $1.75 billion $0.472 billion $0.678 billion $0.391 billion $0.210 billion Baltimore Orioles $1.713 billion $0.754 billion $0.591 billion $0.188 billion $0.180 billion Milwaukee Brewers $1.605 billion $0.532 billion $0.543 billion $0.359 billion $0.171 billion Colorado Rockies $1.475 billion $0.491 billion $0.569 billion $0.253 billion $0.162 billion Detroit Tigers $1.45 billion $0.530 billion $0.536 billion $0.216 billion $0.167 billion Minnesota Twins $1.39 billion $0.537 billion $0.481 billion $0.231 billion $0.141 billion Arizona Diamondbacks $1.38 billion $0.521 billion $0.503 billion $0.210 billion $0.146 billion Pittsburgh Pirates $1.32 billion $0.564 billion $0.452 billion $0.168 billion $0.136 billion Cleveland Guardians $1.3 billion $0.501 billion $0.471 billion $0.175 billion $0.153 billion Tampa Bay Rays $1.25 billion $0.585 billion $0.404 billion $0.138 billion $0.123 billion Kansas City Royals $1.2 billion $0.504 billion $0.385 billion $0.197 billion $0.114 billion Cincinnati Reds $1.19 billion $0.492 billion $0.405 billion $0.170 billion $0.123 billion Oakland Athletics (now Athletics) $1.18 billion $0.490 billion $0.421 billion $0.147 billion $0.122 billion Miami Marlins $1 billion $0.505 billion $0.281 billion $0.114 billion $0.100 billion

Historical valuations + Historical valuations (in US$ millions) by MLB team 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 2,900 2,650 2,500 2,400 2,300 2,100 2,000 1,700 1,400 800 811 Los Angeles Angels 2,700 2,200 2,000 2,000 1,900 1,800 1,800 1,300 1,300 775 718 Atlanta Braves 2,600 2,100 1,900 1,800 1,700 1,600 1,500 1,200 1,200 730 629 Philadelphia Phillies 2,575 2,300 2,100 2,000 1,900 1,700 1,700 1,200 1,300 975 893 St. Louis Cardinals 2,550 2,450 2,200 2,200 2,100 1,900 1,800 1,600 1,400 820 716 Houston Astros 2,250 1,980 1,900 1,900 1,800 1,700 1,500 1,100 800 530 626 Texas Rangers 2,225 2,050 1,800 1,800 1,700 1,600 1,600 1,200 1,200 825 764 Seattle Mariners 2,200 1,700 1,600 1,600 1,600 1,500 1,400 1,200 1,100 710 644 Toronto Blue Jays 2,100 1,780 1,700 1,600 1,500 1,400 1,300 900 870 610 568 Chicago White Sox 2,050 1,760 1,700 1,700 1,600 1,500 1,400 1,100 975 695 692 Washington Nationals 2,000 2,000 1,900 1,900 1,800 1,700 1,600 1,300 1,300 700 631 San Diego Padres 1,750 1,575 1,500 1,500 1,400 1,300 1,100 890 890 615 600 Baltimore Orioles 1,713 1,375 1,400 1,400 1,300 1,200 1,200 1,000 1,000 620 618 Milwaukee Brewers 1,605 1,280 1,200 1,200 1,200 1,000 925 875 875 565 562 Colorado Rockies 1,475 1,385 1,300 1,300 1,200 1,100 1,000 860 855 575 537 Detroit Tigers 1,450 1,400 1,300 1,300 1,300 1,200 1,200 1,200 1,100 680 643 Minnesota Twins 1,390 1,390 1,300 1,300 1,200 1,200 1,000 910 895 605 578 Arizona Diamondbacks 1,380 1,380 1,300 1,300 1,300 1,200 1,200 925 840 585 584 Pittsburgh Pirates 1,320 1,320 1,300 1,300 1,300 1,300 1,300 975 900 572 479 Cleveland Guardians 1,300 1,300 1,200 1,200 1,200 1,000 920 800 825 570 559 Tampa Bay Rays 1,250 1,100 1,100 1,100 1,000 900 825 650 625 485 451 Kansas City Royals 1,200 1,110 1,100 1,000 1,000 1,000 950 865 700 490 457 Cincinnati Reds 1,190 1,190 1,100 1,100 1,100 1,000 915 905 885 600 546 Athletics 1,180 1,180 1,100 1,100 1,100 1,000 880 725 725 495 468 Miami Marlins 1,000 990 990 980 1,000 1,000 940 675 650 500 520

Forbes list of the most valuable MLB teams

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