Forbes released its annual list of Major League Baseball franchise valuations on Wednesday and for the first time, there are five teams with values of at least $1 billion—including the San Francisco Giants.
At the other end of the spectrum, the Oakland Athletics are the 28th-most valuable franchise in MLB.
The average team, according to the report, is worth $811 million, a 9 percent increase over 2013.
The Giants were the fifth of the $1 billion franchises, coming in at a valuation of exactly $1 billion. That trails only the Yankees ($2.5 billion), Dodgers ($2 billion), Red Sox ($1.5 billion) and Cubs ($1.2 billion).
The Giants had the third-highest attendance in baseball last season despite posting its worst record since 2008 at 76-86. San Francisco drew 3.36 million fans to AT&T Park in 2013.
The A’s, on the other hand, were assessed at $495 million. Shockingly, the Forbes report cited their stadium situation as the biggest hindrance to the team’s value. The only franchises below the A’s on the list are the Royals ($490 million) and the Rays ($485 million).
Part of the Giants value is their television deal with CSN Bay Area, which gives the team a cut of the network’s advertising revenue and a 30 percent share of the network itself. The team’s TV ratings were up last season coming off a World Series win and brought in $65 million in local television revenue.
MLB is in a strong position in 2014, as its new national cable television deals with TBS and ESPN begin this season at double the price of the last deals–$1.55 billion a year combined.