Baseball’s richest teams

The average major-league baseball team is worth $811 million, up 9% since last year, reports Forbes.

Television is contributing to the boost in value, as teams sell off the lucrative long-term rights to air their games for billions.

Read: Which baseball team ranks highest?

Now, five teams are worth $1 billion or more, reports Forbes. At the top are the New York Yankees—valued at $2.5 billion. Runners up are the Los Angeles Dodgers, worth $2 billion this year. The Boston Red Sox are worth $1.5 billion, while the Chicago Cubs have a $1.2 billion value, and the San Francisco Giants are worth $1 billion.

The only Canadian team, the Toronto Blue Jays, is the 18^th-richest team, worth $610 million.

Read more here.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.