Cesar Tordesillas

Forbes magazine revealed that MLB's off-the-field investments boosted the average worth of the 30 teams by 23 percent to $744 million.

It is the biggest year-over-year change in valuation ever calculated by Forbes magazine.

"The value of a team used to be about a team itself. Then it shifted to the stadium value and then to the television deals, and now it's more about what's not on the field at all," said Forbes executive editor Michael Ozanian.

Forbes said that the money that all teams made from the $450 million sale of the Montreal Expos in 2006 was invested in hedge funds that are now worth more than $1 billion.

Each team also owns an equal share in MLB Advanced Media, which generates more than $600 million in revenue from its game-day video and audio app MLB At Bat, the highest grossing sports app in the Apple store on the iPhone and iPad for four consecutive years.

Forbes conservatively values the subsidiary at $6 billion.

The clubs will also receive $12.4 billion in national television revenue on acount of new deals with Fox, Turner and ESPN that run through the 2021 season.

The New York Yankees are the most valuable team for the 16th straight year at $2.3 billion, surpassing the Dallas Cowboys' $2.1 billion for the title of most valuable franchise in North America. The Los Angeles Dodgers are in the No. 2 MLB spot at $1.5 billion.

The Boston Red Sox are the third most valuable team at $1.3 billion, while the Chicago Cubs come in at $1 billion, the final team worth at least 10 figures.

Despite the much-publicized shedding of its top players, the Miami Marlins are worth $520 million this year, up 16 percent from last year. The team was worth $360 million in 2011, before it was awarded its new stadium.

Forbes' findings come a week after sources told ESPNNewYork.com's Adam Rubin that owners are moving toward eliminating the pension plans of all personnel not wearing big league uniforms.

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Investments Boost MLB Value by 23 percent