Forbes: Phillies With MLB's Highest 2016 Operating Income

PHILADELPHIA (CBS) -- No Major League baseball team had a higher operating income in 2016 than the Philadelphia Phillies, according to Forbes.

The Phillies' 2016 operating income -- which is earnings before interest and taxes (EBIT) -- was $87.7 million, about $4 million more than the Chicago Cubs. The Detroit Tigers had the lowest operating income at negative $36.4 million.

The Phillies are currently the league's ninth most valuable franchise valued at $1.65 billion, Forbes reports. However, the Phillies saw their value increase 34-percent last year, MLB's third-highest improvement -- which is most likely in regards to their new TV deal.