As much as it may pain any Red Sox supporter reading this (or writing this), the Yankees are firmly back on top. They are, of course, the defending World Series champions. But now they have also returned to the top of another competition: global brand value for a sport franchise. Forbes magazine now ranks the Yankees ahead of previous leader Manchester United (owned by Steinbrenners' fellow Tampa business family, the Glazers). Merchandise sales are a key reason the Yankees moved up, but the rise of the dollar against the pound didn't hurt: The Yankees brand is worth $328 million (21% of their $1.6 billion total team value), while we calculate the Man U name to be worth $285 million (16% of their $1.835 billion value). The two teams swapped spots as the Yankees saw a merchandising frenzy thanks to a 27th World Series title and the opening of their new stadium. Gross sales of World Series and Yankees championship-emblazoned products totaled $450 million last year, while the new ballpark spurred 40% growth in sponsorship revenue. Local TV ratings on YES Network (Forbes is a partner in a show on YES) were up 11%, even as most baseball teams saw ratings decline. Also helping push the Yanks to the top was a strengthening U.S. dollar, which gained 17% on the British pound over the 12-month period we reviewed. Man U might not be knocked off their perch for very long. A new four-year, $130-million shirt sponsorship deal with insurer AON ( AON - news - people ) to begin next season is 50% greater, on average, than their current deal with AIG ( AIG - news - people ). When combined with their pact with apparel giant Nike ( NKE - news - people ), the Red Devils will see an average of $66 million a year from the two sponsors, plus a 50% share of profits on specific Nike merchandise sales. Man U also lays claim to an unmatched global fan base: 333 million followers and 139 million core fans, with more than half coming from Asia. Read The Most Valuable Team Sports Brands here .