The New York Yankees maintained their status as Major League Baseball's most valuable team and are worth an estimated $3.7 billion (A$5b), according to a survey released by Forbes.



The 27-time World Series champions, who have held the top spot on the list in each of the 20 years Forbes has been tracking MLB valuations, are worth nearly $1 billion more than the next most valuable team.



Forbes said the average MLB team is worth $1.54 billion, a 19 per cent rise from last year, which the magazine attributed to new local television deals that are increasing at roughly a two-fold rate, as well as a surge in profitability.



The Los Angeles Dodgers ($2.75 billion), Boston Red Sox ($2.7 billion), World Series champion Chicago Cubs ($2.67 billion) and San Francisco Giants ($2.65 billion) rounded out of the top five.

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The Yankees, who last year missed the postseason for the third time in four seasons, saw their revenue rise 2 per cent to an MLB-high $526 million, according to Forbes.