The Dodgers, pictured here after clinching the NL West against the Diamondbacks, are now the second most valuable team in baseball thanks to a new media contract, stadium improvements and the highest payroll in the league.
Bankrupt just two years ago, the Dodgers are now Major League Baseball’s second most valuable franchise, according to Forbes.
The team is worth an estimated $2 billion, a 24-percent value increase from last year. The valuation matches the NL West champion’s actual sales price in 2012.
The Yankees were named the most valuable franchise for the 17th straight year.
Since being purchased by Guggenheim Baseball Management, a group led by Magic Johnson, Stan Kasten and Mark Walter, the Dodgers are worth over 40 percent more than they were when Frank McCourt last owned them.
The increase in value can largely be attributed to a new $8.35 billion, 25-year television contract the Dodgers signed with Time Warner Cable in January. Multimillion dollar renovations to Dodger Stadium and the highest payroll in Major League Baseball have also contributed to the team’s rise on the Forbes list.
The Dodgers opened up the regular season on Saturday with two wins against the Diamondbacks. Their next home game is April 4 against the San Francisco Giants.