Cubs Valued at $1.2 Billion by Forbes
Fourth most valuable team in the leage
Chicago Cubs' Julio Borbon second from right, celebrates with teammates after hitting a walkoff-single to defeat the Cincinnati Reds 6-5 in fourteen innings of an MLB baseball game in Chicago, Thursday, June 13, 2013. (AP Photo/Paul Beaty)
Updated at 12:50 PM CST on Wednesday, Mar 26, 2014
Forbes ranks the New York Yankees as baseball's most valuable team for the 17th straight year and lists the Tampa Bay Rays with the lowest valuation.
Forbes said Wednesday it estimates the Yankees are worth $2.5 billion, up 9 percent from last year. The Dodgers are next at $2 billion, a 24 percent hike and matching their actual sale price in 2012.
Boston was third at $1.5 billion, followed by the Chicago Cubs ($1.2 billion), San Francisco ($1 billion) and Philadelphia ($975 million).
At the bottom were the Rays ($485 million), Kansas City ($490 million), Oakland ($495 million) and Miami ($500 million).
Major League Baseball's average team value rose 9 percent to $811 million. Forbes says values rose primarily because of increased media rights fees.
Copyright Associated Press