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Revenue sharing, luxury tax cut value

NEW YORK -- The New York Yankees are baseball's most
valuable franchise, Forbes magazine's estimates, but the worth has
declined because of the sport's revenue-sharing system and luxury
tax.

The Yankees are estimated to be worth $832 million, the magazine
said Thursday in its April 26 issue, down from an $849 million
estimate last year.

Boston moved into second place at $533 million, with the New
York Mets third at $442 million.

Los Angeles was valued fourth at $399 million, even though the
team just sold for $430 million.

The two teams moving into new ballparks had large increases,
with Philadelphia rising 18 percent to $281 million and San Diego
going up 17 percent to $265 million.

Montreal, owned by the other 29 teams, is last at $145 million,
just behind Tampa Bay ($152 million).

Franchise value for 2004
Franchise value for 2004 with one year change in value and revenue according to Forbes magazine (all dollar figures in millions):

Rk. Team Value Change Revenue
1. New York Yankees $832 -2 $238
2. Boston Red Sox $533 9 $190
3. New York Mets $442 -11 $158
4. Los Angeles Dodgers $399 -11 $154
5. Seattle Mariners $396 3 $169
6. Atlanta Braves $374 -12 $156
7. San Francisco Giants $368 -4 $153
8. Chicago Cubs $358 7 $156
9. Houston Astros $320 -2 $128
10. St Louis Cardinals $314 2 $131
11. Texas Rangers $306 -8 $127
12. Baltimore Orioles $296 -5 $129
13. Cleveland Indians $292 -12 $127
14. Colorado Rockies $285 -6 $124
15. Philadelphia Phillies $281 18 $115
16. Arizona Diamondbacks $276 3 $126
17. San Diego Padres $265 17 $106
18. Chicago White Sox $248 6 $124
19. Cincinnati Reds $245 10 $123
20. Anaheim Angels $241 7 $127
21. Detroit Tigers $235 -1 $117
22. Pittsburgh Pirates $217 -3 $109
23. Oakland Athletics $186 8 $110
24. Milwaukee Brewers $174 -16 $102
25. Florida Marlins $172 27 $101
26. Kansas City Royals $171 12 $98
27. Toronto Blue Jays $169 2 $99
28. Minnesota Twins $168 14 $99
29. Tampa Bay Devil Rays $152 4 $101
30. Montreal Expos $145 29 $81