The average Major League Baseball team is now worth $2.95 billion, up 13% from a year ago . The New York Yankees retain their spot at the top of the heap, worth $9 billion, 13% more than last year. Besides playing in the biggest market, the Yankees have won 27 championships — 16 more than runner-up St. Louis — and are widely considered by sports bankers to be baseball's biggest brand. The Bronx Bombers become the 10th sports franchise to be worth at least $9 billion, according to CNBC's calculations . The others are the Dallas Cowboys ($12.5 billion), Golden State Warriors ($10.8 billion), Los Angeles Rams ($10.7 billion), New York Giants ($10.5 billion), New York Knicks ($10.1 billion), Los Angeles Lakers ($10 billion), Las Vegas Raiders ($9.3 billion), New England Patriots ($9.25 billion) and New York Jets ($9.1 billion). The Los Angeles Dodgers , worth $8 billion based on CNBC's calculations, are gaining ground fast on the Yankees. The value of the Dodgers rose 38% from last year as the team capitalized on winning the past two World Series and showcasing superstar Shohei Ohtani. The Dodgers more than doubled sponsorship revenue the past three years to over $200 million, according to a person familiar with the team's business, who asked not to be named because such details are private. The Dodgers generated $950 million in revenue last season, the person said. That was nearly $200 million more than the Yankees made, according to Yankees revenue figures shared by a person familiar with the team's business, who asked not to be named because such details are private. Four other MLB teams saw their values increase by at least 20% from last year. CNBC pegs the value of the San Diego Padres at $3.1 billion, 48% more than a year ago. The Seidler family — which paid $600 million for the team in 2012 — has the team on the market, and several sports bankers CNBC spoke with believe the Padres will fetch at least $3 billion. The sports bankers asked not to be named because the matter is private. That sale price would surpass the $2.42 billion that Steve and Alexandra Cohen paid for the Mets in 2020 and set a new record price paid for a baseball team. Besides having no competition from the NFL, NBA or NHL in their city, the Padres have built a robust events business at their ballpark, Petco Park, which last year included The Links at Petco Park , Holiday Wonderland , the San Diego Rodeo , WWE's Survivor Series: War Games , Savannah Bananas baseball and a San Diego Comic-Con interactive zone . The Athletics rose 25% in value, to $2.5 billion. When the team moves into its new ballpark in Las Vegas in 2028, revenue should surpass $500 million the first season, according to two people familiar with the team's finances, who asked not to be named because such details are private. Last season, playing in a minor league ballpark in Sacramento, California, the Athletics posted revenue of $324 million, according to one of those people. The Tampa Bay Rays are worth $1.7 billion, which is how much Patrick Zalupski paid for the team in September. That price tag was 21% more than CNBC's valuation of the Rays a year ago . Zalupski is looking to build a new ballpark and mixed-use real estate project on approximately 130 acres in Tampa's Westshore district and Hillsborough College's Dale Mabry campus, according to the team . The Detroit Tigers also gained 21%, from $1.6 billion to $1.93 billion, in CNBC's valuations. Detroit's revenue rose 9%, to $356 million, according to a CNBC estimate. That rise was aided by the second straight year of postseason play and, according to MLB data , a 30% increase in total attendance last season. Despite the appreciation in MLB team values, the profitability of the league is in far worse shape than it is for the NFL, NBA and NHL, according to CNBC's calculations . In 2025, MLB's 30 teams had an EBITDA — earnings before interest, taxes, depreciation and amortization — margin of under 2% on average revenue of $426 million and average EBITDA of $7 million, including non-MLB ballpark events. In contrast, the comparable margin for the NFL was 20%, the NBA 21% and the NHL 22.2%, according to CNBC's most recent valuations . Methodology CNBC's Official MLB Team Valuations 2026 represent current enterprise values — equity plus net debt — calculated using revenue multiples based on historical control transaction prices. CNBC's valuations include MLB Advanced Media, the league's arm that oversees centralized sponsorships, online ticketing, MLB.TV, sports betting, and licensing, as well as Baseball Endowment LP, or BELP, the league's investment fund. Both MLB Advanced Media and BELP are equally owned by all 30 teams. CNBC's valuations are based on a team's current stadium, unless there is an agreement in place for the team to move or get a new stadium. For example, the Athletics are valued at $2.5 billion because the team, which is set to play in Sacramento for the next two seasons, is expected to move into a new stadium in Las Vegas in 2028. CNBC also adjusts its MLB-related figures to align with industry standards. For example, the Atlanta Braves reported $635 million in revenue for 2025, but CNBC lists $508 million. The discrepancy arises because the Braves report gross revenue for categories such as retail and concessions, whereas CNBC includes net revenue in accordance with MLB reporting practices. The Braves reported operating income before depreciation and amortization, or OIBDA, of $51 million for 2025, but CNBC shows Braves EBITDA of $32 million. The reason is the treatment of amateur signing bonuses, among other items that differ between adjusted OIBDA and EBITDA. The Braves record amateur signing bonuses as amortization, while CNBC includes amateur signing bonuses as an operating expense. CNBC's enterprise values and figures for revenue and EBITDA do not include the value of teams' equity stakes in non-MLB businesses, such as regional sports networks or real estate holdings. Revenue and EBITDA figures are for the 2025 season and are net of revenue sharing and playoff revenue allocated to players, umpires and the commissioner's office. EBITDA is also net of competitive balance taxes. Figures for the Toronto Blue Jays are presented in U.S. dollars. Sources for CNBC's Official MLB Team Valuations 2026 include team owners, investors and executives; sports bankers and league consultants; public documents such as ballpark lease agreements, ballpark authority budgets and audits, and credit rating reports; and sponsorship and broadcasting industry executives. Figures that could not be independently verified are CNBC estimates. — CNBC's Hector Fadraga contributed to this report.
