The average baseball team is now worth $744 million, according to the study, 23 percent more than a year ago and the largest increase since Forbes began such analysis in 1998.
Last season, attendance at Camden Yards jumped 21 percent to an average of 26,600 per game, according to Forbes. The Orioles averaged a 4.75 rating on MASN/MASN2, 42% higher than 2011, the report says.
Forbes lists the Orioles' 2012 revenue at $206 million and their operating income at $30.1 million.
The New York Yankees have the highest current value at $2.3 billion, followed by Los Angeles Dodgers ($1.615 billion), Boston Red Sox ($1.312 billion), Chicago Cubs ($1 billion) and Philadelphia Phillies ($893 million).
The Tampa Bay Rays are the least valuable franchise at $451 million.