Times are good for Major League Baseball owners.
In its annual baseball valuations, Forbes magazine noted that the average team is worth $1.2 billion, an increase of 48 percent over 2014.
The magazine also said that since it started tracking team values in 1998, that is the biggest year-over-year increase.
The Royals are valued at $700 million (28th most in Major League Baseball), which is a 43 percent increase over 2014, when they were valued at $490 million.
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Additionally, the Royals made a profit of $26.6 million last year.
The Yankees were valued at No. 1 at $3.2 billion, followed by the Dodgers ($2.4 billion), Red Sox ($2.1 billion) and Giants ($2 billion).
Forbes said 15 major-league teams are now worth at least $1 billion. There were just five a year ago.
Forbes Major League Baseball valuations