The Yankees are worth $2.5 billion, according to the annual list of franchise values released Wednesday by Forbes.
That makes them the most valuable team in the U.S. sports landscape, topping the value of $2.3 billion Forbes gave to the Dallas Cowboys in August 2013. The Yankees have been the most valuable baseball team for each of the 17 years the magazine has published the list.
The Dodgers, bought two years ago by Guggenheim Partners for $2.15 billion, came in second on Forbes' list at $2 billion. The team has a 25-year television deal with Time Warner Cable worth more than $8 billion, though it lost a battle with Major League Baseball and will have to share more revenue from that deal than it originally projected.
Forbes says the average value of an MLB team is $811 million, up 9 percent from last season.
Values, for the most part, have risen year over year, thanks in part to television deals with ESPN, Fox and TBS that begin this year and pay twice as much as the previous deals.
Only three teams fell in value.
The New York Mets, whose attendance has slipped in each of their first five years at Citi Field, fell 1 percent to $800 million. The Miami Marlins are down 4 percent to $500 million, and the Houston Astros fell an astounding 15 percent to $530 million due in part to the implosion of the regional sports network that was broadcasting its games.