As the country’s second most popular sport, baseball teams’ valuations have exploded over the last two decades. With the average team now worth an estimated $2.4 billion, owning a baseball team is undoubtedly a great investment if you’re among those who can afford a team. Considering the average team was valued at $194 million in 1998, it’s safe to say team owners from this era have a strong return on their investments.
Of course, the real question isn’t how much the owners have made but which teams are worth the most. To discover the answer, Forbes used a complicated methodology that calculated revenue, operating income, enterprise values, ownership stakes in regional sports networks, and stadium revenue. With this methodology in place, let’s look at the most valuable baseball teams in descending order.
Why Are We Covering This?
Any website that covers the economy should cover the value of sports teams. When you consider that the value of sports teams has beaten inflation five-fold and the S&P 500 since 1998, it becomes even more intriguing to learn how valuable some baseball teams really are. Plus, each team brings significant revenue to its cities through jobs, bars, restaurants, and other places that see increased activity on game nights.
15. Chicago White Sox
- Total Value: $2.05 billion
- Revenue: $288 million
The worst team in the American League in 2024, the Chicago White Sox still have a storied and famous history, helping propel the team’s valuation. The team’s cross-town rivalry with the Chicago Cubs is also one of the most famous in sports, and the team enjoyed some success after winning its third World Series in 2005. Paul DeJong, Andrew Vaughn, and Korey Lee all help to restore the team’s success after the All-Star break.
14. Toronto Blue Jays
- Total Value: $2.1 billion
- Revenue: $328 million
The Toronto Blue Jays are the lone Canadian team on this list, and their stadium revamp is almost complete. The revamped stadium hopes to attract bigger-name players and add more seats to help drive increased revenue from fans. An expansion team founded in 1977, the Blue Jays are the only Canadian team left after the Montreal Expos became the Washington Nationals in 2005. Still, the Blue Jays enjoy huge popularity from fans who love watching Bo Bichette, Vladimir Guerrero Jr. and Chris Bassitt play.
13. Seattle Mariners
- Total Value: $2.2 billion
- Revenue: $396 million
After taking control of ROOT Sports in 2024, the Seattle Mariners released some of their biggest names to help pay for TV rights. Even though the team is financially struggling, this hasn’t hurt its overall valuation. Some of the valuation is also based on expectations that a big-name brand could step in and help the team right the ship. Regardless, the team is enjoying first place in the West Division of the American League, so the players are doing something right.
12. Texas Rangers
- Total Value: $2.4 billion
- Revenue: $425 million
After winning the World Series in 2023, the Texas Rangers look to be struggling somewhat in 2024, but this hasn’t stopped the team from reaching a record valuation. The team was also once owned by former president George W. Bush between 1989 and 1994. Today, five members of the team’s roster are considered among baseball’s best 100 players, including Corey Seager, the runner-up for the American League MVP award from last year.
11. Houston Astros
- Total Value: $2.42 billion
- Revenue: $445 million
Now that the team has signed Joe Altuve to a five-year $125 million deal in 2023, the Houston Astros look set to continue their recent streak of deep playoff runs. After winning the World Series in 2017 and 2022, the Astros have been considered the best team in baseball over the past 10 years. While the team has struggled a bit in 2024, anything can happen after the All-Star break. Yordan Alvarez, Altuve, and other members of the team know what it takes to win.
10. St Louis Cardinals
- Total Value: $2.55 billion
- Revenue: $372 million
After experiencing their first losing season in almost 20 years in 2023 and their worst record since 1990, the St. Louis Cardinals hope their fortunes turn around. Surprisingly, the Cardinals rank second in TV viewership, which is pretty excellent considering it’s a smaller TV market. It also proves the loyalty of the team’s fans, who are hoping Sonny Gray, Nolan Arenado, and Tommy Edman can turn the team’s fortunes around in 2024.
9. Los Angeles Angels
- Total Value: $2.7 billion
- Revenue: $388 million
The Los Angeles Angels have been in the league since 1961, often playing in the shadow of its cross-town rival. With only one World Series title in 2002, the Angels are often overlooked by other teams in baseball as only one of two teams with one title. However, backed by the play of 11-time All-Star Mike Trout, Taylor Ward, and Patrick Sandoval, the team hopes to turn around its fortunes and make a run for the playoffs.
8. Atlanta Braves
- Total Value: $2.8 billion
- Revenue: $473 million
One of the oldest teams in all professional sports, the Atlanta Braves were originally the Boston Braves before moving to Milwaukee in 1953 and Atlanta in 1966. The 1990s were the decade of the Braves as its pitching lineup of Greg Maddux, John Smoltz, and Tom Glavine propelled the team to the World Series in 1995. Today, Ronald Acuna Jr. is considered baseball’s best player and is helping the team rank among the best teams in the National League.
7. Philadelphia Phillies
- Total Value: $2.92 billion
- Revenue: $458 million
In the crazy sports town of Philadelphia, people love the Phillies. Even though the team has only won two World Series, with the last in 2008, there is no question it’s one of the most popular teams in all of sports. With one of baseball’s most electric players, Bryce Harper, at the core of the Phillies lineup, it’s safe to say that jersey sales will help drive the team’s valuation further north.
6. New York Mets
- Total Value: $3 billion
- Revenue: $393 million
Yet another storied baseball team, the New York Mets, is the second of two teams to be hosted by New York City. Founded in 1962, the Mets replaced the Brooklyn Dodgers after the Dodgers moved to San Francisco. The Mets haven’t won a World Series since 1986, and at the beginning of the 2024 season, the team had trouble filling seats, even with popular players like Francisco Lindon and Pete Alonso.
5. San Francisco Giants
- Total Value: $3.8 billion
- Revenue: $443 million
The San Francisco Giants are another major player in Major League Baseball and one of the most popular teams in the league. After relocating to San Francisco in 1948, the Giants are among the oldest and most successful in baseball history, winning the World Series eight times. Big-name players like Logan Webb, Wilmer Flores, and Mike Yastrzemski hope to return the team to glory.
4. Chicago Cubs
- Total Value: $4.22 billion
- Revenue: $506 million
The Chicago Cubs, with the longest World Series drought in baseball, are among the most popular teams in all sports. With a new ownership group and management over the last 15 years, the Cubs won their first World Series title in 2016 after 108 years. Today, the Cubs hope to repeat their success with Ian Happ, Cody Bellinger, Nico Hoerner, and Dansby Swanson.
3. Boston Red Sox
- Total Value: $4.5 billion
- Revenue: $500 million
Another unsurprising addition to the list of most valuable baseball teams is the Boston Red Sox. With Fenway Park being among the most popular sports stadiums, the Red Sox have nine World Series titles, including its latest in 2018. With a strong lineup, including players like Rafael Devers and Triston Casas, the Red Sox are focused on building on the team’s legacy in 2024.
2. Los Angeles Dodgers
- Total Value: $5.45 billion
- Revenue: $549 million
Another one of the most important teams in baseball, the Los Angeles Dodgers, has had a loyal fanbase even since the team moved from Brooklyn. At the team’s core is Shohei Ohtani, one of the most incredible players to have ever walked on a baseball field and the recipient of the largest contract in baseball history. With seven World Series titles, the Dodgers have long been fierce rivals of the Yankees and count former Los Angeles Laker superstar Magic Johnson among its ownership group.
1. New York Yankees
- Total Value: $7.55 billion
- Revenue: $679 million
It should come as no surprise the New York Yankees are the most valuable team in baseball. As the most storied team in the sport, the Yankees have one of the most loyal fanbases in all professional sports. With superstars like Aaron Judge, Juan Soto, Gerrit Cole, and Luis Gil on the team in 2024, expectations are high, and the team has been in first place for much of the season (at least so far).
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