The Mets according to Forbes magazine are second only to the Yankees ($1.306 billion) in total value and have the best value to debt ratio in MLB and the third highest operating income. The Mets value rose 12% in the last 12 months.

The New York Mets were second at $824 million and the Boston Red Sox third at $816 million, the magazine said Wednesday. After that, there was a big gap to the Los Angeles Dodgers ($694 million) and the Chicago Cubs ($642 million).

Besides the obvious, like attendance, Forbes cites interleague play as a major factor. The article also adds:

Citigroup, beleaguered by the housing market meltdown, is still planning to pay the Amazins $400 million over 20 years for the stadium’s naming rights.

Johan Santana was named the 4th best pitcher for the buck by Forbes, with a salary of $19 million in 2008.