March 23, 2016 / 4:48 PM / 2 years ago

Yankees extend reign as MLB's most valuable team: Forbes

(Reuters) - The New York Yankees are Major League Baseball’s most valuable team for a 19th consecutive year, coming in at nearly triple the league’s average value, according to a survey released by Forbes on Wednesday.

Mar 22, 2016; Tampa, FL, USA; The New York Yankees celebrate the win over the New York Mets at George M. Steinbrenner Field. The Yankees defeat the Mets 6-3. Mandatory Credit: Jerome Miron-USA TODAY Sports

The 27-time World Series champion Yankees were valued at $3.4 billion, a 6 percent jump from last year and comfortably above the second-ranked Los Angeles Dodgers, whose value rose 4 percent to $2.5 billion.

The average MLB team is now worth $1.3 billion, a 7 percent rise from last year, which Forbes attributed to new, or anticipated, richer national broadcasting deals.

The Yankees, who last year reached the postseason for the first time since 2012 and saw their revenue rise 10 percent to an MLB-high $516 million, have topped the list since Forbes began tracking MLB team valuations in 1998.

The Boston Red Sox ($2.3 billion), San Francisco Giants ($2.25 billion) and Chicago Cubs ($2.2 billion) rounded out the top five while the World Series champion, small market Kansas City Royals ($865 million) were 25th out of MLB’s 30 teams.

Reporting by Frank Pingue in Toronto; Editing by Larry Fine

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