Yahoo! Sports with the details:
One-third of Major League Baseball teams declined in value over the past year while the New York Yankees’ worth increased 15 percent to $1.5 billion, according to the annual estimates by Forbes magazine.
The Washington Nationals took the biggest hit during the recession, down 12 percent to $406 million. The Atlanta Braves dropped 10 percent and the Detroit Tigers and Seattle Mariners each were off 9 percent, the magazine said Wednesday.
The decline by 10 teams was the most since 2004, Forbes said.
On the other hand, the rich have gotten richer. Both the Yankees and Mets have seen their franchise values continue to rise.
Bolstered by their new $1.5 billion stadium, the Yankees showed the top increase and remained the most valuable franchise in the majors. The New York Mets, also boosted by a new ballpark, were second in value ($912 million) and increase (11 percent).
Part of the value is due to the revenues these two teams generate (Yankees are king, the Mets are third behind the Red Sox), but they both have 'franchise value to revenue multiples' that are among the highest in the league due to their ability to grow those revenues.
It will be interesting to see how teams hold up through the economic downturn as their businesses, as well as owners are impacted.
Source: Biz of Baseball
Revenues are pretty simple numbers to find, however how is 'value' determined? If it's anything like anything else, value would be what someone else is willing to pay. In this regard I would suspect the value of many teams is overestimated.
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