NEW YORK -- Forbes estimates that the New York Yankees are baseball's most valuable franchise at $4.6 billion, up 15 percent from last year's figure.

The Los Angeles Dodgers are second at $3.3 billion, followed by the World Series champion Boston Red Sox at $3.2 billion, the Chicago Cubs ($3.1 billion), the San Francisco Giants ($3 billion) and the New York Mets ($2.3 billion).

The Yankees' YES Network broadcasts Forbes' "SportsMoney" television show.

Forbes' franchise values list released Wednesday estimates that the Miami Marlins are the least valuable team at $1 billion, just behind the Tampa Bay Rays ($1.01 billion).