NEW YORK (CBSNewYork/AP)The Yankees are baseball’s most valuable team for the 20th straight year, according to Forbes magazine.

Forbes said Tuesday it estimates the Yankees are worth $3.7 billion, up 9 percent from last year. The Dodgers are next at $2.75 billion, a 10 percent increase.

MORE: Jordan Montgomery Wins No. 5 Spot In Yankees’ Rotation, Will Start Wednesday

The Boston Red Sox were third at $2.7 billion, followed by the Chicago Cubs ($2.675 billion) and San Francisco Giants ($2.65 billion).

The Mets came in at sixth place. They are worth an estimated $2 billion, up 21 percent from last year.

At the bottom were the Tampa Bay Rays ($825 million), Oakland Athletics ($880 million), Cincinnati Reds ($915 million) and Cleveland Indians ($920 million).

Major League Baseball’s average team value rose 19 percent to $1.54 billion. Forbes says values increased because of new local television deals, as well as a “surge in profitability.”

(© Copyright 2017 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)

More From CBS New York

Bracket Challenge
Download Weather App

Watch & Listen LIVE