Most valuable MLB franchises of 2026 ranked

Money in MLB keeps climbing, and team values are hitting new highs every year. The league has become incredibly valuable, thanks to booming TV deals, rising revenues, and global star power. Big-market franchises still dominate the top spots, pulling in massive cash and growing faster than the rest.

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The 2026 rankings show a clear divide. A handful of teams sit comfortably at the top with huge valuations, while others lag far behind. Factors like revenue streams, debt levels, and annual earnings heavily influence these numbers. On-field success also plays a role, but its impact usually builds over time rather than overnight.

The New York Yankees once again lead the pack, holding their spot as the most valuable franchise. The Los Angeles Dodgers continue to close the gap with steady growth. Meanwhile, iconic teams like the Chicago Cubs and Boston Red Sox remain firmly among the league’s elite.

At the other end, smaller-market teams face real challenges. Lower attendance, weaker broadcast deals, and inconsistent performances slow their growth. Some clubs are still trying to find stability both financially and on the field.

Here’s a closer look at each team, including their value, revenue, earnings, and ownership details.

30. Miami Marlins

Miami Marlins pitcher Ryan Weathers (35) throws a pitch during the first inning against the Philadelphia Phillies at Citizens Bank Park. Credit: Bill Streicher-Imagn Images

The value is $1.40B. Revenue comes in at $304M. EBITDA stands at $35M. Debt is very high at 29 percent. Bruce Sherman owns the team. The market is big but fan turnout has been low. Playoff runs have been rare. That limits revenue growth.

29. Kansas City Royals

Kansas City Royals starting pitcher Seth Lugo (67) throws a pitch in the first inning against the Detroit Tigers at Kauffman Stadium. Credit: Peter Aiken-Imagn Images

The team is valued at $1.63B. Revenue is $332M. EBITDA is just $5M. Debt is 17 percent. John Sherman leads ownership. Earnings remain small compared to others. The club needs steady success to grow its value.

28. Pittsburgh Pirates

Pittsburgh Pirates starting pitcher Paul Skenes (30) throws a pitch in the first inning against the Atlanta Braves during spring training at CoolToday Park. Credit: Jonathan Dyer-Imagn Images

Value reaches $1.64B. Revenue is $334M. EBITDA is $30M. Debt stands at 9 percent. The Nutting family owns the team. Profits are decent but growth is slow. A lack of winning seasons holds them back.

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27. Minnesota Twins

Minnesota Twins pitcher Joe Ryan (41) throws a pitch during the second inning against the Philadelphia Phillies at Citizens Bank Park. Credit: Bill Streicher-Imagn Images

Worth $1.65B. Revenue hits $352M. EBITDA is $20M. Debt is 12 percent. The Pohlad family owns the team. The club has a stable fan base. Still, it lacks the big market push.

26. Cincinnati Reds

Cincinnati Reds third baseman Noelvi Marte (16) throws to third base in the seventh inning of the MLB National League Wild Card Game 1 between the Cincinnati Reds and LA Dodgers. Credit: Frank Bowen IV/The Enquirer / USA TODAY NETWORK via Imagn Images

Valued at $1.68B. Revenue is $351M. EBITDA stands at $45M. Debt is 9 percent. Robert Castellini owns the team. Earnings look solid here. However, the overall value stays low due to the market size.

25. Cleveland Guardians

Cleveland Guardians Kyle Manzardo (9) runs the bases after hitting a grand slam against the Los Angeles Dodgers during the first inning at Goodyear Ballpark. Credit: Joe Camporeale-Imagn Images

Value is $1.69B. Revenue reaches $339M. EBITDA is $37M. Debt sits at 6 percent. Paul Dolan and David Blitzer own the team. The club runs efficiently. Still, revenue limits cap its value.

24. Tampa Bay Rays

Tampa Bay Rays pitcher Zack Littell (52) throws a pitch against the New York Yankees in the first inning at Tropicana Field. Credit: Nathan Ray Seebeck-USA TODAY Sports

Worth $1.70B. Revenue is $287M. EBITDA is $27M. Debt is 7 percent. Patrick Zalupski owns them. The team performs well on the field. Stadium issues and market limits affect income.

23. Colorado Rockies

Colorado Rockies catcher Hunter Goodman (15) hits a solo home run in the ninth inning against the Pittsburgh Pirates at Coors Field. Credit: Ron Chenoy-Imagn Images

Valued at $1.75B. Revenue hits $325M. EBITDA is $20M. Debt stands at 7 percent. Owned by Charles and Richard Monfort. Attendance helps revenue. Performance swings hurt long term growth.

22. Milwaukee Brewers

Milwaukee Brewers outfielder Jackson Chourio against the Chicago White Sox during a spring training game at American Family Fields of Phoenix. Credit: Mark J. Rebilas-Imagn Images

Value is $1.90B. Revenue totals $350M. EBITDA is $32M. Debt is 13 percent. Mark Attanasio owns the club. The team is well run. Still, the market size keeps a value under $2B.

21. Detroit Tigers

Detroit Tigers pitcher Kenley Jansen practices during spring training at TigerTown in Lakeland. Credit: Imagn Images

Worth $1.93B. Revenue is $356M. EBITDA stands at $20M. Debt is 8 percent. The Ilitch family owns the team. A strong history helps the brand. Recent struggles have slowed financial growth.

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20. Arizona Diamondbacks

Arizona Diamondbacks second baseman Ketel Marte (4) heads off the field after the third inning against the Los Angeles Angels at Salt River Fields at Talking Stick. Credit: Jayne Kamin-Oncea-Imagn Images

Value reaches $1.98B. Revenue is $360M. EBITDA is negative at -$11M. Debt is 6 percent. Ken Kendrick owns the club. Losses hurt valuation. Growth depends on consistent results.

19. Baltimore Orioles

Baltimore Orioles left fielder Terrin Vavra (23) runs towards the dugout during batting practice against the Toronto Blue Jays at Rogers Centre. Credit: Nick Turchiaro-USA TODAY Sports

Valued at $2.00B. Revenue is $328M. EBITDA is -$21M. Debt is 11 percent. David Rubenstein owns the team. A rebuild phase has affected earnings. Future success could lift value.

18. Washington Nationals

Washington Nationals pitcher Richard Lovelady (55) warms-up between inning during the game against the Houston Astros at CACTI Park of the Palm Beaches. Credit: Jim Rassol-Imagn Images

Worth $2.05B. Revenue is $314M. EBITDA is -$17M. Debt is high at 27 percent. The Lerner family owns them. Debt levels are a concern. Performance dips have also hurt income.

17. Chicago White Sox

Chicago White Sox outfielder Everson Pereira against the Los Angeles Dodgers during a spring training game at Camelback Ranch-Glendale. Credit: Mark J. Rebilas-Imagn Images

Value is $2.15B. Revenue is $224M. EBITDA is -$54M. Debt stands at 9 percent. Jerry Reinsdorf group owns the team. Revenue is among the lowest. Losses are also high.

16. Seattle Mariners

Seattle Mariners pitcher Luis Castillo (58) throws in the second inning against the Toronto Blue Jays during game four of the ALCS round for the 2025 MLB playoffs at T-Mobile Park. Credit: Kevin Ng-Imagn Images

Valued at $2.35B. Revenue hits $411M. EBITDA is $42M. Debt is 11 percent. John Stanton group owns them. A strong fan base boosts income. The team is financially stable.

15. Oakland Athletics

Oakland Athletics infielder Tommy White during the Arizona Fall League Fall Stars Game at Sloan Park. Credit: Mark J. Rebilas-Imagn Images

Worth $2.50B. Revenue is $324M. EBITDA is $2M. Debt is 8 percent. John Fisher owns the team. Earnings remain very low. The stadium situation continues to affect value.

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14. Toronto Blue Jays

Toronto Blue Jays pitcher Dylan Cease (84) throws a pitch during spring training at the Bobby Mattick Training Center at Englebert Complex. Credit: Jonathan Dyer-Imagn Images

Value stands at $2.55B. Revenue is $447M. EBITDA is -$39M. No debt listed. Owned by Rogers Communications. Revenue is strong for this range. Losses pull down overall value.

13. St. Louis Cardinals

St. Louis Cardinals starting pitcher Sonny Gray (54) delivers a pitch against the San Francisco Giants during the first inning at Oracle Park. Credit: Neville E. Guard-Imagn Images

Valued at $2.60B. Revenue is $376M. EBITDA is $25M. Debt is 7 percent. William DeWitt Jr. owns them. A loyal fan base supports steady income. The brand remains strong.

12. Los Angeles Angels

Los Angeles Angels right fielder Mike Trout (27) gets ready before a game against the Cleveland Guardians at Tempe Diablo Stadium. Credit: Rick Scuteri-Imagn Images

Worth $2.70B. Revenue hits $401M. EBITDA is -$11M. No debt listed. Arturo Moreno owns the club. The market is large. Losses and inconsistency affect growth.

11. Texas Rangers

Texas Rangers shortstop Corey Seager (5) rounds the bases after hitting a home run during the seventh inning against the Los Angeles Angels at Globe Life Field. Credit: Kevin Jairaj-Imagn Images

Value is $2.75B. Revenue reaches $441M. EBITDA is -$13M. Debt is high at 25 percent. Ray Davis owns them. Revenue is solid. Debt level is a concern.

10. San Diego Padres

San Diego Padres pitcher Mason Miller (22) delivers during the seventh inning against the Chicago Cubs during game two of the Wildcard round for the 2025 MLB playoffs at Wrigley Field. Credit: Matt Marton-Imagn Images

Valued at $3.10B. Revenue is $484M. EBITDA is $20M. Debt stands at 11 percent. The Seidler family owns the team. Recent spending boosts visibility. Value has crossed $3B.

9. Atlanta Braves

Atlanta Braves right fielder Stuart Fairchild (17) slides in safely with a double against the Philadelphia Phillies in the fifth inning at Truist Park. Credit: Brett Davis-Imagn Images

Worth $3.25B. Revenue hits $508M. EBITDA is $32M. Debt is 8 percent. Owned by Atlanta Braves Holdings. A strong business structure helps growth. Revenue is among the best outside the top markets.

8. Houston Astros

Houston Astros second baseman Jose Altuve (27) throws the ball to first to record an out against the Athletics in the seventh inning at Sutter Health Park. Credit: Cary Edmondson-Imagn Images

Value reaches $3.30B. Revenue is $486M. EBITDA is $33M. Debt is just 2 percent. Jim Crane owns the team. Low debt is a big plus. Consistent success keeps revenue high.

7. New York Mets

New York Mets shortstop Francisco Lindor (12) rounds the bases after hitting a home run against the Miami Marlins during the first inning at loanDepot Park. Credit: Sam Navarro-Imagn Images

Valued at $3.55B. Revenue hits $520M. EBITDA is -$280M. Debt is 8 percent. Steve and Alexandra Cohen own the team. Spending is very high. Losses reflect that approach.

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6. Philadelphia Phillies

Philadelphia Phillies catcher Rafael Marchan (13) and starting pitcher Jesus Luzardo (44) look towards the bullpen after giving up four runs in the third inning against the Toronto Blue Jays at Rogers Centre. Credit: John E. Sokolowski-Imagn Images

Worth $3.60B. Revenue is $523M. EBITDA is -$51M. Debt stands at 4 percent. Middleton and Buck families own them. Fan support is strong. Spending has increased in recent years.

5. San Francisco Giants

San Francisco Giants left fielder Heliot Ramos (17) celebrates his solo home run against the St. Louis Cardinals during the sixth inning at Oracle Park. Credit: Eakin Howard-Imagn Images

Value stands at $3.80B. Revenue hits $491M. EBITDA is $38M. Debt is 4 percent. Greg Johnson owns the club. Stable finances keep them in the top five.

4. Boston Red Sox

Boston Red Sox relief pitcher Aroldis Chapman (44) delivers a pitch against the Toronto Blue Jays in the ninth inning at Rogers Centre. Credit: Dan Hamilton-Imagn Images

Valued at $5.00B. Revenue is $537M. EBITDA is $66M. Debt is 5 percent. John Henry and Tom Werner own the team. The brand is global. Strong earnings support the value.

3. Chicago Cubs

Chicago Cubs shortstop Dansby Swanson (7) throws to first against the Kansas City Royals in the second inning at Sloan Park. Credit: Rick Scuteri-Imagn Images

Worth $5.25B. Revenue reaches $552M. EBITDA is $74M. Debt is 8 percent. The Ricketts family owns the team. Revenue is among the highest. The business side is very strong.

2. Los Angeles Dodgers

Los Angeles Dodgers designated hitter Kyle Tucker against the Chicago White Sox during a spring training game at Camelback Ranch-Glendale. Credit: Mark J. Rebilas-Imagn Images

Value stands at $8.00B. Revenue is huge at $950M. EBITDA is $92M. Debt is 8 percent. Guggenheim Baseball Management owns them. Growth has been massive. Star power and TV deals drive it.

1. New York Yankees

New York Yankees catcher Austin Wells (28) celebrates his go ahead RBI single against the Boston Red Sox during the eighth inning of game two of the Wildcard round of the 2025 MLB playoffs at Yankee Stadium. Credit: Brad Penner-Imagn Images

The top value is $9.00B. Revenue is $755M. EBITDA is $5M. Debt is just 1 percent. The Steinbrenner family owns the team. The brand is unmatched and it remains the most valuable franchise.

Conclusion

Top teams keep getting richer. Big markets stay ahead. The Yankees still lead the list. The Dodgers are closing in fast. Smaller teams must improve revenue to climb.

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