The Colorado Rockies have been evaluated at $1 billion, according to Forbes’ yearly baseball franchise values list released Tuesday.
The Rockies’ value is up from $860 million, a 16 percent jump.
The club also jumped up three spots in the MLB ranks from No. 26 to No. 23 most valued franchise.
The average MLB team is worth $1.54 billion, 19% more than one year ago, which means the Rockies are below the MLB average and are not gaining value at the same rate as other clubs.
Values were driven higher by new local television deals that are increasing at roughly a two-fold rate, surging profitability, and the escalating value of Major League Baseball Advanced Media, the Internet and technology arm of MLB.