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Yankees first team to top $1 billion in Forbes valuation

Updated: April 21, 2006, 10:07 PM ET
Associated Press

NEW YORK -- Major League Baseball objected to Forbes magazine's financial analysis of the industry, which said 25 of the 30 teams had operating profits last year.

"Forbes has never had access to financial information from major league baseball or the individual clubs," Rob Manfred, baseball's executive vice president of labor relations, said in a statement Friday. "The estimates published in the current issue of the magazine materially misstate the financial performance of the industry as ...

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