Forbes estimates that the Phillies are now worth $3.1 billion

Forbes revealed its 2025 list of "Baseball's Most Valuable MLB Teams" on Wednesday. The publication estimated the Phillies' value at $3.1 billion, a 6% increase from last year. That makes the Philadelphia club the seventh-most valuable among MLB's 30 teams.

At $8.2 billion, the New York Yankees were valued higher than any other club. The Yanks have topped the Forbes list ever since it was first published in 1998.

The Los Angeles Dodgers came in second at $6.8 billion, a whopping 24% increase from 2024. The Boston Red Sox ($4.8 billion), Chicago Cubs ($4.6 billion), San Francisco Giants ($4.0 billion), and New York Mets ($3.2 billion) were the other clubs valued higher than the Phils.

The Atlanta Braves ($3.0 billion), Houston Astros ($2.8 billion), and Los Angeles Angels ($2.75 billion) round out the top ten.

Overall, the values of MLB clubs rose by an average of 8%, with the Athletics increasing the most: an estimated 50% because of hopes around a new stadium in Las Vegas. The average value of all teams for 2025 is $2.6 billion, a record high.

The @SphereVegas featuring the A’s logo. #vegas #athletics #mlb pic.twitter.com/HIO1bvs6Ji

— Mick Akers (@mickakers) March 8, 2025

But Forbes cites some causes for concern, especially when comparing MLB's numbers to the performance of other major sports leagues:

"Four clubs are flat year-over-year—the St. Louis Cardinals, Seattle Mariners, Colorado Rockies and Tampa Bay Rays—and the Chicago White Sox actually declined 2%, to $2 billion.

"At the same time, the league’s most recent control stake sale, David Rubenstein’s $1.725 billion purchase of the Baltimore Orioles last year, was priced at 5.3 times revenue, and on Forbes’ 2025 valuation list, the league’s spread of multiples stretches from 11.3x for the Yankees down to 3.3x for the Miami Marlins. Compare those numbers with the higher ranges in the NBA (10.1 to 15.6) and the NFL (7.5 to 10.8), which reflect investors’ greater appetite for the franchises in those leagues and greater optimism for their revenue outlook.

"Baseball’s growth is similarly starting to lag behind those other sports’. Over the last five years, NFL teams have appreciated 87% on average, to $5.7 billion, and NBA teams have soared 101%, to $4.4 billion. In the same period, MLB clubs are up 36%."

Forbes also documents operating revenue for each team. At $9 million, the Phillies were nowhere near the highest figure (Boston's $120 million operating income) or the lowest (the Mets' staggering $268 million operating loss).

Top 10 MLB teams in 2024 attendance:

Games Total Average
LA Dodgers 81 3,941,251 48,657
NY Yankees 79 3,309,838 41,896
Philadelphia 81 3,363,712 41,527
San Diego… pic.twitter.com/WxRKEpAD2D

— FunBaseballFacts (@FunBaseballFact) January 30, 2025

If you're a billionaire looking for a bargain, you may want to check in on the Miami Marlins. According to Forbes, the fish are the league's least valuable team at $1.05 billion.