The New York Yankees are once again baseball's most valuable franchise.

Forbes values the Yankees at $4.6 billion, up 15 percent from last year's figure.

The Los Angeles Dodgers are second at $3.3 billion, followed by the Boston Red Sox at $3.2 billion, the Chicago Cubs ($3.1 billion), the San Francisco Giants ($3 billion) and the New York Mets ($2.3 billion).