Forbes: Value of Blue Jays jumps to $870 million

Toronto's Rogers Centre. (Darren Calabrese/CP)

In the space of one year the Toronto Blue Jays have increased in value by 43 percent according to Forbes. The new valuation released on Wednesday morning pegs the value of the Blue Jays at $870 million.

While the jump is significant, it is not unusual within the context of Major League Baseball, which has grown substantially due to record television revenue. The average MLB team grew 48 percent last season and is now valued at $1.2 billion.

The Blue Jays, who were valued at $610 million last year, now rank 22nd among MLB teams.

According to Forbes, the New York Yankees are worth $3.2 billion, more than any other team and tied with the Dallas Cowboys as the most valuable sports franchise in North America. Meanwhile, the Tampa Bay Rays were ranked as the least valuable MLB team at $625 million.