New York Yankees

Forbes released its annual MLB team values list, and the New Yankees that tops the list with a $3.2 billion value.

According to their estimates, the average baseball team is now worth $1.2 billion, 48% more than a year ago, the biggest year-over-year increase since Forbes began tracking team values in 1998. Also, a record 15 MLB teams are now worth at least $1 billion, up from five in 2014.

The Yankees are tied with the NFL’s Dallas Cowboys as the most valuable U.S. sports teams — Spanish soccer team Real Madrid, worth $3.44 billion, is the most valuable in the world.

The New York team has been the most valuable baseball team each of the 18 years Forbes has valued MLB franchises since 1998. Last season, the team generated a record $508 million in revenue.

The Los Angeles Dodgers comes in second with $2.4 billion; the Boston Red Sox is third with $2.1 billion; the San Francisco Giants is fourth with $2 billion; and the Chicago Cubs is fifth at $1.8 billion.

Check out the full list over at Forbes.com.