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Major League Baseball franchise values are on the rise, according to Forbes, despite turmoil caused by the recent bankruptcy filing of Diamond Sports and the continued disintegration of the regional sports network model that could shake up baseball broadcasting for this season and beyond.

The New York Yankees topped the list published Thursday by Forbes as baseball’s most valuable team at $7.1 billion, an 18% increase from 2022.

Following the Yankees are the Los Angeles Dodgers at $4.8 billion (up 18%), the Boston Red Sox at $4.5 billion (up 15%), the Chicago Cubs at $4.1 billion (up 8%) and the San Francisco Giants at $3.7 billion (up 6%).

Overall, average MLB team value increased 12% over the past year to $2.32 billion, with revenue increasing 7.8% to $10.3 billion. Most of that money came from a 64% increase in ticket revenue, including the postseason and spring training.

As the most valuable team in baseball, the Yankees made $143 million in cable money in 2022 with games televised on the YES Network, the most profitable and most-watched regional sports network in the country. In total, MLB’s 30 teams made about $2.3 billion in local television revenue in 2022, accounting for 22% of their total revenue before debt service.

In contrast to MLB, the NHL made $838 million on local television, 14% of its total revenue, while the NBA made $1.31 billion, or 13% of its revenue. The NFL splits media revenue evenly among teams.

The decline of local television has more heavily impacted teams in smaller markets such as the Arizona Diamondbacks, Cincinnati Reds, Cleveland Guardians, Colorado Rockies, Minnesota Twins, Pittsburgh Pirates, Oakland Athletics and San Diego Padres. Every team besides the Rockies and Padres — whose valuations increased due to more stadium revenue from tickets, suites and advertising — did not see an increase in valuation due to the risk of local television fee cuts.

The last MLB team to be sold was the New York Mets, who were purchased by hedge fund manager Steve Cohen for a record $2.42 billion in November 2020. The Mets were ranked as the sixth-most valuable team by Forbes at $2.9 billion.

The Lerner family, which owns the Washington Nationals, announced last April that it is exploring selling the franchise, which was valued at $2 billion by Forbes.

Los Angeles Angels owner Arte Moreno said last August that he also was considering selling the franchise but recently had a change of heart, announcing two months ago that his franchise — valued by Forbes at $2.7 billion, just behind the Mets — is no longer for sale.

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Journalism opens as 8-5 favorite for Preakness

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Journalism opens as 8-5 favorite for Preakness

HALETHORPE, Md. — Journalism is the morning line favorite for the 150th running of the Preakness Stakes.

The Kentucky Derby runner-up to Sovereignty opened at odds of 8-5 on Monday night when post positions were drawn for the middle leg of horse racing’s Triple Crown. Journalism is again set to be ridden by jockey Umberto Rispoli and leave the starting gate from the No. 2 post.

Post time is set for 7:01 p.m. EDT on Saturday.

No. 7 Sandman is the 4-1 second choice in the field of nine, which does not include Sovereignty after his owners and trainer decided not to run the Derby winner two weeks after his triumph at Churchill Downs. The Preakness goes on without a true shot at a Triple Crown winner for a fifth time in seven years since Justify swept all three races in 2018.

Bob Baffert, who trained Justify and 2015 Triple Crown champion American Pharoah, is entering Goal Oriented looking for a record-extending ninth victory in the race. Fellow Hall of Famer D. Wayne Lukas can tie Baffert if he wins the Preakness back-to-back, this time with American Promise a year after Seize the Grey ended Mystik Dan’s Triple Crown bid.

There are three Derby horses running in the $2 million Preakness at Pimlico Race Course in Baltimore: Journalism, American Promise and Sandman, the latter of whom will be ridden by John Velazquez for trainer Mark Casse. American Promise drew the No. 3 post and opened at odds of 15-1.

New to the Triple Crown trail, along with No. 1 Goal Oriented (6-1), are No. 4 Heart of Honor (12-1), No. 5 Pay Billy (20-1), No. 6 River Thames (9-2), No. 8 Clever Again (5-1) and No. 9 Gosger (20-1).

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U.S. shut out by Switzerland at hockey worlds

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U.S. shut out by Switzerland at hockey worlds

HERNING, Denmark — Switzerland, last year’s runner-up, shut out the United States 3-0 and handed the Americans their first loss at the ice hockey world championship Monday.

Damien Riat, Jonas Siegenthaler and Dean Kukan scored in the Group B game in Herning. Netminder Leonardo Genoni stopped 23 shots for the shutout.

“Give credit to Switzerland,” U.S. coach Ryan Warsofsky said. “But I know our group has a lot more in them. We’ll regroup and get ready to play Norway.”

Riat put Switzerland ahead with 7:14 remaining in the first period, redirecting the puck into the goal from the air. It was the first goal the U.S. conceded at the tournament.

The second followed 3:13 later by Siegenthaler from the blue line. Kukan’s came halfway through the final period from the top of the left circle.

“After the first goal we did a better job,” Swiss forward Kevin Fiala said. “We got into it more and more, and shut them out.”

Fiala recorded an assist in his first game at the worlds. He joined the Swiss late after his Los Angeles Kings were eliminated from the NHL playoffs in the first round.

U.S. goalie Joey Daccord made 24 saves.

The U.S., which beat Denmark 5-0 and Hungary 6-0 in its first two games, will next face Norway on Wednesday.

In other games, Martin Necas had two goals and David Pastrnak had a goal and two assists as the defending champion Czech Republic used a four-goal middle period to ease past Denmark 7-2.

Nick Olesen also had a goal and an assist for Denmark.

In Stockholm, Sweden topped archrival Finland 2-1 on goals from Leo Carlsson and Jonas Brodin for a third victory in regulation from three games.

Austria defeated Slovakia 3-2 in a penalty shootout.

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Leafs’ Domi fined $5K for hit to Panthers’ Barkov

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Leafs' Domi fined K for hit to Panthers' Barkov

Toronto Maple Leafs forward Max Domi was fined $5,000 — the maximum amount allowed by the league’s collective bargaining agreement — for boarding Florida Panthers captain Aleksander Barkov as time expired in Game 4 of their second-round Eastern Conference playoff series Sunday.

Toronto was trailing 2-0 when the final buzzer sounded, and Domi hit Barkov from behind, sending him headfirst into the boards. Domi was given a minor penalty for boarding at the time while several other scrums broke out before officials moved players off the ice.

Florida’s victory evened the best-of-seven series at 2-all. Game 5 is set for Wednesday in Toronto.

Toronto coach Craig Berube didn’t comment on the Domi hit directly Monday, but he did say he thought Dmitry Kulikov‘s hit on Mitch Marner “was way worse”

On that play, the Panthers defenseman caught Marner up high with an elbow, leaving the Leafs forward momentarily dazed. No penalty was called on Kulikov.

It wasn’t the first elbowing incident to draw attention in the series.

In Game 1, Panthers forward Sam Bennett sent an elbow to the head of Leafs netminder Anthony Stolarz shortly before Stolarz left the game. He was later hospitalized for further evaluation and hasn’t been able to resume skating since. There is currently no timeline for his return.

The physical intensity of the series might continue to rise now that it’s down to being a best-of-three. Based on how Game 4 played out, the Leafs are prepared to push back when they host Florida on Wednesday.

“We expected [the physicality], and I think we’re fine with it,” Berube said. “We’re handling it. We’re physical. I thought we were the more physical team [in Game 4].”

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