The Angels are worth $718 million, according to Forbes magazine’s annual value rankings of the 30 Major League Baseball franchises.

That’s a nine percent increase compared to last year, though Forbes estimates the Angels’ operating income at negative $12.9 million, down from a year ago.

The Yankees, Dodgers, Red Sox and Cubs top the list as baseball’s only billion-dollar-plus franchises.

The Phillies, Mets, Giants, Rangers, Angels and Cardinals round out Forbes’ top 10.

Here’s what Forbes wrote about the Angels:

Owner Arte Moreno has not been shy about using his new pile of television money to win a World Series. Prior to the 2012 season the Angels signed Albert Pujols to a $240 million, 10-year contract. Pujols had an off year and the team finished last season at 89-73 and missed the postseason. Fans gave the team a thumbs down: average home attendance slipped 3%, to 37,800 [per game] and local television ratings dipped 1%, to 1.12, the second-lowest in baseball. So prior to 2013 the Angels signed another slugger, Josh Hamilton, for five years and $125 million.