Dodgers' Franchise Value Fourth-Highest in MLB

Forbes magazine released its annual report of MLB franchise valuations, and the Dodgers are the fourth-most valuable franchise at $694 million. The Yankees are first at $1.306B, followed by the Mets ($824M), Red Sox ($816M), Dodgers, Cubs ($642M), and Angels ($500M).

In the NL West, the Giants are eighth at $494M. The Padres are at $385M, Diamondbacks $379M, and Rockies $371M. The Marlins are the least-valuable franchise overall, at $256M (around one-sixth of the Yankees' value; but who would take six Marlins teams over one Yankees team, even if buying in bulk?).

Upshot: Team owners are getting rich like never before. During 2007, revenue for MLB's 30 teams went up 7.7%, to $5.5 billion. The average team is now worth $472 million, 9.5% higher than last year and 143% more than when Forbes first calculated team values in 1998. Again the Bronx Bombers sit atop baseball with a value of $1.3 billion. George Steinbrenner, who paid $10 million for the team in 1973, could probably teach Warren Buffett a thing or two about investing.

Consider this: The Yankee brand (the portion of the team's value attributable to its name) alone is worth $241 million, almost as much as the entire Florida Marlins franchise. When the Yankees move into their new stadium in 2009 the team will be worth at least $1.5 billion because of the rich bounty of sponsorship and premium seating revenue.

The Mets, currently ranked second with a value of $824 million, will also get a new stadium that should push their value close to $1 billion before long. Citigroup (nyse: C - news - people ), beleaguered by the housing market meltdown, is still planning to pay the Amazins $400 million over 20 years for the stadium's naming rights.

Oh God, I hope this doesn't lead us to a stadium naming rights discussion.