'Forbes' values Pirates at $292M, No. 28 among MLB's 30 teams

The Pittsburgh Pirates, as they have been in the Major League Baseball standings in the last 15 years, are ranked near the bottom in team value, according to Forbes magazine.

Forbes on Friday released its valuations for all 30 Major League Baseball franchises, and the Pirates rank 28th, with a value of $292 million, ranking ahead of only Tampa Bay and the Florida Marlins.

The Pirates had revenue of $139 million in 2007, according to Forbes' research.

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The Yankees were the top team, valued at $1.3 billion, followed by the New York Mets ($824 million), Boston Red Sox ($816 million), Los Angeles Dodgers ($694 million) and Chicago Cubs ($642 million).

Forbes calculates the value of a team based on its current stadium deal (unless a new stadium is pending) without deduction for debt (other than stadium debt).