Big money continues to pour into professional baseball, and team owners are reaping the rewards.

FOX's Chris Hoenig reports:

For the 20th straight year, Forbes lists the New York Yankees as Major League Baseball's most valuable franchise. The Yankees are worth an estimated $3.7 billion, nine percent more than last year and nearly a full billion more than the nearest team: The L.A. Dodgers, valued at $2.75 billion.

Next are the Boston Red Sox, followed by the reigning World Series champion Chicago Cubs, followed by the San Francisco Giants and the New York Mets.

The average team is worth $1.54 billion, a 19 percent increase in the past year thanks to a surge in profitability from new TV deals.

The Tampa Bay Rays are at the bottom, valued at $825 million, slightly less than the $880 million Oakland A's.

Chris Hoenig, FOX News.

Follow Chris Hoenig on Twitter: @Chris_Hoenig