While the Cubs might not be No. 1, they have seen a steady increase in value recently.
Forbes said the average Major League Baseball team is worth $1.54 billion, a 19 per cent rise from past 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 San Francisco Giants finish out the top five at $2.65 billion.
Philadelphia recorded a revenue of $325 million in 2016 en route to a 71-91 record. Player costs (57% of the league's operating expenses) did not increase as fast as revenue.
Not without flaws, North Carolina leaves Glendale with title
North Carolina's Roy Williams is in his ninth Final Four and fourth championship game, two of which were titles in 2005 and '09. The Zags held North Carolina to 35 percent from the field and 4 of 27 from 3-point range.
Of the other teams on the list, all four have made a playoff appearance at some point in the last two seasons.
The Phillies also earned more revenue previous year than five postseason teams - the Nationals, Rangers, Blue Jays, Indians and Orioles. Forbes released their rankings of the most valuable Major League Baseball franchises, and the Phils came in at ninth.
Forbes also said that for last season, the average operating income (earnings before interest, taxes, depreciation and amortization) for all teams was $34 million, up 52 percent from 2015.
The Yankees' estimated value was up 9 percent over a year ago, and the Mets were up 21 percent. The deal went into effect at the start of the 2016 season. He's taken a more hands-on approach with the team in recent years, including putting president Andy MacPhail in place and allowing the team's analytics staff, which works under MacPhail and general manager Matt Klentak, to expand rapidly.