The New York Yankees are baseball's most valuable franchise at $5 billion, according to Forbes.

The Yankees' value rose 9% over last year. The Los Angeles Dodgers rank second with an estimated value of $3.4 billion.

The Boston Red Sox are third at $3.3 billion, followed by the Chicago Cubs ($3.2 billion), San Francisco Giants ($3.1 billion), New York Mets ($2.4 billion), St. Louis Cardinals ($2.2 billion) and Philadelphia Phillies ($2 billion).