The New York Yankees checked in at first place unsurprisingly at $1.3 billion. The Mets are second at $824 million. Boston is third at $816 million. The Dodgers are fourth at $694 million and the Cubs are fifth at $642 million.
The Florida Marlins are last at $256 million.
This shows that just because a team has a low payroll doesn't mean it's not valuable. Unless you think you $256 million to spare.
I didn't check for reaction from Bud Selig, but it's safe to say that he disagrees. As does Bob DuPuy. DuPuy is off buying more doorknobs.