(WHDH) — In its annual valuation of sports franchises, Forbes Magazine has ranked the Red Sox as one of the most valuable franchises in baseball.

The Red Sox were valued at $2.8 billion, up 8 percent from last year. That valuation makes the team the fifth-most valuable franchise among the 30 MLB teams.

The division rival Yankees led the way with a valuation of $4 billion. They were followed by the Dodgers at $3 billion, the Cubs at $2.9 billion, and the Giants at $2.85 billion.

The Florida contingent of the Tampa Bay Rays and Miami Marlins were the least valuable franchises. The Rays were the only team not valued at $1 billion or more, coming in at $900 million. The Marlins were valued at exactly $1 billion.

You can see the full rankings here.

(Copyright (c) 2024 Sunbeam Television. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Join our Newsletter for the latest news right to your inbox