Even in times of economic turmoil, an investment in a Major League Baseball team is a sure bet. Major League Baseball has seen this play before: A global calamity spreads fear and panic. Equity values plummet. The future gets scary. And prices for the most valuable teams in the league hold their lead. Our team values are 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 team. Revenue and operating income (earnings before interest, taxes, depreciation and amortization) measure cash in versus cash out (not accrual accounting) for the 2019 season. Our figures include the postseason and are net of revenue-sharing and stadium debt payments for which the team is responsible. Revenues include the prorated upfront bonuses networks pay teams, as well as proceeds from non-MLB events at the ballpark. Ownership stakes in regional sports networks, as well as related profits or losses, were excluded from our valuations and operating results. Sources include sports bankers, public documents like leases and filings related to public bonds and media rights. Read the full profile on Forbes: https://www.forbes.com/sites/mikeozanian/2020/04/09/despite-lockdown-mlb-teams-gain-value-in-2020/#3ed3cab92010 Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1 Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.