The Blue Jays were valued at $1.78 billion, an increase of six per cent over 2021 valuation rankings, when they were ranked 15th.
Topping the rankings this year are the New York Yankees, at $6 billion, followed by the Los Angeles Dodgers ($4.075 billion), Boston Red Sox ($3.9 billion), Chicago Cubs ($3.8 billion) and San Francisco Giants ($3.5 billion). Forbes reports that the Yankees trail only the Dallas Cowboys ($6.5 billion) as the world's most valuable franchise.
The bottom three MLB teams are the Kansas City Royals ($1.11 billion), Tampa Bay Rays ($1.1 billion) and Miami Marlins ($990 million).
According to Forbes' website, a number of factors are taken into account while calculating a team's value, specifically "enterprise values (equity plus net debt) calculated using a multiple of revenue. The multiples are based on historical transactions and the future economics of the sport and teams. Revenue and operating income (earnings before interest, taxes, depreciation and amortization) are for the 2021 season and are net of revenue sharing, competitive balance taxes and stadium revenue used for debt service."
Forbes cites sources for its rankings such as sports bankers, team executives, public documents like leases and filings related to public bonds and media rights experts.