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Forbes list of the most valuable MLB teams

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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.[1] These areas are supported by applying financial metrics such as debt and operating income to each one.[2]

Yankee Stadium, home to the New York Yankees, the most valuable MLB team as of the 2025 MLB season.

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.[2]

Several media outlets have referenced in related news or conducts analytic journalism when the ranking comes out, such as USA Today and Yahoo!.[3][4] MLB has recognized the renditions of the ranking in financial documents, although not publicly.[5][6] 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.[7] 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.[8][9][10]

Ranking

Rankings as of June 10, 2025 (2025 MLB season)[2]

More information Rank, Swing ...
RankSwing[a]TeamState/
Province		Value[b]Change[c]Revenue[d]Operating income[e]
1SteadyNew York Yankees New York$8.2 billionIncrease 9%$728 million–$57 million
2SteadyLos Angeles Dodgers California$6.8 billionIncrease 25%$752 million$21 million
3SteadyBoston Red Sox Massachusetts$4.8 billionIncrease 7%$574 million$120 million
4SteadyChicago Cubs Illinois$4.6 billionIncrease 9%$584 million$81 million
5SteadySan Francisco Giants California$4 billionIncrease 5%$448 million–$24 million
6SteadyNew York Mets New York$3.2 billionIncrease 7%$444 million–$268 million
7Increase 2Philadelphia Phillies Pennsylvania$3.1 billionIncrease 6%$519 million$9 million
8SteadyAtlanta Braves Georgia$3 billionIncrease 7%$510 million–$3 million
9Increase 2Houston Astros Texas$2.8 billionIncrease 16%$494 million$11 million
10Decrease 3Los Angeles Angels California$2.75 billionIncrease 2%$410 million$40 million
11Decrease 1St. Louis Cardinals Missouri$2.55 billionSteady 0%$373 million$7 million
12SteadyTexas Rangers Texas$2.45 billionIncrease 2%$406 million–$38 million
13SteadySeattle Mariners Washington$2.2 billionSteady 0%$379 million$43 million
14SteadyToronto Blue Jays Ontario$2.15 billionIncrease 2%$387 million–$60 million
15Increase 1Washington Nationals District of Columbia$2.1 billionIncrease 5%$325 million$0
16Decrease 1Chicago White Sox Illinois$2 billionDecrease 2%$277 million–$41 million
17SteadySan Diego Padres California$1.95 billionIncrease 10%$432 million$32 million
18SteadyBaltimore Orioles Maryland$1.9 billionIncrease 10%$366 million$65 million
19Increase 10Athletics California$1.8 billionIncrease 50%$257 million$23 million
20Decrease 1Milwaukee Brewers Wisconsin$1.7 billionIncrease 6%$335 million$24 million
21Increase 2Arizona Diamondbacks Arizona$1.6 billionIncrease 12%$328 million–$33 million
22Decrease 1Detroit Tigers Michigan$1.55 billionIncrease 7%$320 million$30 million
23Decrease 1Minnesota Twins Minnesota$1.5 billionIncrease 3%$324 million$5 million
24Decrease 4Colorado Rockies Colorado$1.475 billionSteady 0%$318 million–$22 million
25SteadyCleveland Guardians Ohio$1.4 billionIncrease 4%$336M$11 million
26Decrease 2Pittsburgh Pirates Pennsylvania$1.35 billionIncrease 2%$326 million$47 million
27Increase 1Cincinnati Reds Ohio$1.325 billionIncrease 6%$325 million$29 million
28Decrease 1Kansas City Royals Missouri$1.3 billionIncrease 6%$324 million$6 million
29Decrease 3Tampa Bay Rays Florida$1.25 billionSteady 0%$297 million$32 million
30SteadyMiami Marlins Florida$1.05 billionIncrease 5%$317 million$38 million
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Composition

A pie chart that represents the composition of valuation for the average MLB team.
  1. Sport (28.5%)
  2. Market (40.1%)
  3. Stadium (19.5%)
  4. Brand (11.9%)
More information Team, Value ...
Team[f]Value[b]Sport[g]Market[h]Stadium[i]Brand[j]
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
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Historical valuations

More information Team ...
Historical valuations (in US$ millions) by MLB team[f]
Team20222021202020192018201720162015201420132012
New York Yankees7,1006,0005,3005,0004,6004,0003,7003,4003,2002,5002,300
Los Angeles Dodgers4,8004,0753,6003,4003,3003,0002,8002,5002,4002,0001,600
Boston Red Sox4,5003,9003,5003,3003,2002,8002,7002,3002,1001,5001,300
Chicago Cubs4,1003,8003,4003,2003,1002,9002,7002,2001,8001,2001,000
San Francisco Giants3,7003,5003,2003,1003,0002,9002,7002,3002,0001,000786
New York Mets2,9002,6502,5002,4002,3002,1002,0001,7001,400800811
Los Angeles Angels2,7002,2002,0002,0001,9001,8001,8001,3001,300775718
Atlanta Braves2,6002,1001,9001,8001,7001,6001,5001,2001,200730629
Philadelphia Phillies2,5752,3002,1002,0001,9001,7001,7001,2001,300975893
St. Louis Cardinals2,5502,4502,2002,2002,1001,9001,8001,6001,400820716
Houston Astros2,2501,9801,9001,9001,8001,7001,5001,100800530626
Texas Rangers2,2252,0501,8001,8001,7001,6001,6001,2001,200825764
Seattle Mariners2,2001,7001,6001,6001,6001,5001,4001,2001,100710644
Toronto Blue Jays2,1001,7801,7001,6001,5001,4001,300900870610568
Chicago White Sox2,0501,7601,7001,7001,6001,5001,4001,100975695692
Washington Nationals2,0002,0001,9001,9001,8001,7001,6001,3001,300700631
San Diego Padres1,7501,5751,5001,5001,4001,3001,100890890615600
Baltimore Orioles1,7131,3751,4001,4001,3001,2001,2001,0001,000620618
Milwaukee Brewers1,6051,2801,2001,2001,2001,000925875875565562
Colorado Rockies1,4751,3851,3001,3001,2001,1001,000860855575537
Detroit Tigers1,4501,4001,3001,3001,3001,2001,2001,2001,100680643
Minnesota Twins1,3901,3901,3001,3001,2001,2001,000910895605578
Arizona Diamondbacks1,3801,3801,3001,3001,3001,2001,200925840585584
Pittsburgh Pirates1,3201,3201,3001,3001,3001,3001,300975900572479
Cleveland Guardians1,3001,3001,2001,2001,2001,000920800825570559
Tampa Bay Rays1,2501,1001,1001,1001,000900825650625485451
Kansas City Royals1,2001,1101,1001,0001,0001,000950865700490457
Cincinnati Reds1,1901,1901,1001,1001,1001,000915905885600546
Athletics1,1801,1801,1001,1001,1001,000880725725495468
Miami Marlins1,0009909909801,0001,000940675650500520
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See also

Notes

  1. [a]
    Movement of spots in the ranking from the 2018 MLB season to the 2022 MLB season.
  2. [b]
    Value of team (in USD) based on current stadium deal (unless new stadium is pending), without deduction for debt (other than stadium debt).
  3. [c]
    Change of valuation from the 2018 MLB season to the 2022 MLB season.
  4. [d]
    Revenue in USD.
  5. [e]
    Earnings (in USD) before interest, taxes, depreciation and amortization.
  6. [f]
    Financial data taken from each team profile on Forbes.
  7. [g]
    Portion of franchise's value attributable to revenue shared among all teams.
  8. [h]
    Portion of franchise's value attributable to its city and market size.
  9. [i]
    Portion of franchise's value attributable to its arena.
  10. [j]
    Portion of franchise's value attributable to its brand.

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