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

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]

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]

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

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%)
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

Historical valuations

Historical valuations (in US$ millions) by MLB team[f]
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

See also

Notes

  1. ^ Movement of spots in the ranking from the 2018 MLB season to the 2022 MLB season.
  2. ^ a 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. ^ Change of valuation from the 2018 MLB season to the 2022 MLB season.
  4. ^ Revenue in USD.
  5. ^ Earnings (in USD) before interest, taxes, depreciation and amortization.
  6. ^ a b Financial data taken from each team profile on Forbes.
  7. ^ Portion of franchise’s value attributable to revenue shared among all teams.
  8. ^ Portion of franchise’s value attributable to its city and market size.
  9. ^ Portion of franchise’s value attributable to its arena.
  10. ^ Portion of franchise’s value attributable to its brand.

References

  1. ^ “New York Yankees Profile”. Forbes. Retrieved April 2, 2022.
  2. ^ a b c Teitelbaum, Justin; Knight, Brett (June 10, 2025) [March 26, 2025]. “Forbes Most Valuable MLB Teams 2025 List — What All 30 Clubs Are Worth”. Forbes. Retrieved January 24, 2026.
  3. ^ “Report: Yankees now worth an estimated $6 billion, with 12 of 30 MLB franchises topping $2 billion mark”. USA Today. Retrieved April 2, 2022.
  4. ^ “Yankees reportedly valued at $6 billion, making them MLB’s most valuable franchise”. Yahoo!. March 24, 2022. Retrieved April 2, 2022.
  5. ^ “Baltimore Orioles Financial News Directory (Page 100)” (PDF). Major League Baseball. Retrieved April 2, 2022.
  6. ^ “A’s second baseman Jemile Weeks: Is he on the verge of stardom? (Page 2)” (PDF). Major League Baseball. Retrieved April 2, 2022.
  7. ^ “WHAT THE MLB LOCKOUT MEANS FOR BASEBALL (2:25)”. YouTube. December 2021. Retrieved April 2, 2022.
  8. ^ “KC Royals, and nearly every other MLB team, are worth more after lockout, Forbes says”. The Kansas City Star. Retrieved April 2, 2022.
  9. ^ “Statista Global Consumer Survey: How can the NFL engage their fans?”. YouTube (Statista). February 7, 2022. Retrieved August 16, 2022.
  10. ^ “How Major League Soccer Plans To Overtake Baseball”. YouTube (CNBC). November 26, 2021. Retrieved August 16, 2022.