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If you own a MLB franchise, Forbes has good news

You're doing pretty darn good.

That's the bottom line on Forbes' 2008 MLB Team Valuations. According to a Forbes press release, the average franchise is worth $472 million. That represents a 9 percent incrase year-to-year.

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The No. 1 valued team is, of course, the New York Yankees -- $1.3 billion. The rest of the top 10 (in millions): Mets ($824) Red Sox ($816), Dodgers ($694), Cubs ($642), Angels ($500), Braves ($497), Giants ($494), Cardinals ($484), Cardinals ($484) and Phillies ($481).

The Orioles are No. 18, worth an estimated $398 million. Here's the stat sheet on the O's. It shows that the team has the highest player expenses in its history ($103 million), increasing revenues but declining operating income.

But all in all, the conclusion is that it's good to be king. But you already knew that.

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