Forbes: Blue Jays valued at $900 million ahead of 2016 season

The dirt infield at Rogers Centre has been completed. (Nathan Denette/CP)

The Toronto Blue Jays are now worth $900 million US according to the latest rankings released by Forbes Wednesday.

The Blue Jays rank 22nd out of the 30 Major League Baseball teams, the same spot they occupied this time last year. Their franchise value increased by four percent compared to 2015, when Forbes valued them at $870 million.

Forbes cites the “the sharp decline of the Canadian dollar” as a reason the Blue Jays’ value didn’t increase more. Forbes also reports that the team’s revenue was $241 million in 2015, when they won the AL East title and advanced to the ALCS.

On average MLB teams are worth $1.3 billion, an increase of seven percent compared to 2015. The 30 teams combined to generate $8.4 billion in revenue, also a seven percent increase.

The New York Yankees top the rankings with a valuation of $3.4 billion. The Yankees have earned top spot every year since the first rankings were released in 1998. The World Series champion Kansas City Royals rank 25th with an $865 million valuation while the Tampa Bay Rays are last at $650 million.