Yankees, Dodgers, Red Sox Lead Forbes' 2025 List of Most Valuable MLB Franchises

Going into 2025 as the reigning World Series champions and overwhelming favorites to repeat after an eventful offseason, the Los Angeles Dodgers still find themselves a distant second among MLB teams in franchise value.

Per the latest MLB valuations from Justin Teitelbaum and Brett Knight of Forbes, the New York Yankees top the list at $8.2 billion.

The Dodgers are second at $6.8 billion, followed by the Boston Red Sox ($4.8 billion), Chicago Cubs ($4.6 billion) and San Francisco Giants ($4 billion) to round out the top five.

One area where the Dodgers have bragging rights over almost every other team in the sport is the rate at which their value is going up. The $6.8 billion figure represents a 25 percent increase from 2024.

That's the largest year-over-year increase of any team with a top-10 valuation, but it ranks second among all MLB clubs. The Athletics saw a 50 percent surge in value up to $1.8 billion.

Teitelbaum and Knight attributed the Athletics' spike to a people around MLB having "high hopes" for their eventual move to Las Vegas and a new stadium there, but also season-ticket base for 2025 growing "significantly" compared to their final season in Oakland.

The A's announced in January their 2025 season-ticket allotment was sold out. This does come with a caveat because they're playing home games at the Triple-A stadium in Sacramento that only seats around 14,000 fans.

Only the Tampa Bay Rays, who are playing at the Yankees' spring complex due to Hurricane-related damages to Tropicana Field, have a lower stadium capacity (11,026).

Another notable franchise valuation is at No. 6 where the New York Mets reside. They are valued at $3.2 billion and are operating at a $268 million loss, in part because owner Steve Cohen will be paying just under $400 million in 2025 between payroll and competitive balance tax.

There are total of 11 teams, including the Mets, listed as having an operating loss. The combined losses for the 10 non-Mets teams is $312 million, with the Toronto Blue Jays having the highest total that group ($60 million).

The Red Sox have the highest operating income in MLB at $120 million.