(CBS) Though the team hasn’t won a World Series in over a century, the Cubs have been listed as the most profitable team in all of baseball, according to Forbes’ annual report.

The report claims the Cubs, who are the fourth-most valuable team in baseball at $1 billion, had an operating income of $32.1 million in 2012 – the most in all of baseball.

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Forbes reported the Cubs made less than $50 million from their broadcast affiliates, CSN Chicago and WGN, and will be even more profitable when those deals expire in 2014.

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In 2009, the Ricketts family purchased the Cubs, Wrigley Field and a 20 percent stake in CSN Chicago for $845 million.

According to Forbes, the Yankees are the most valuable team in baseball at $2.3 billion, with the Dodgers coming in second at $1.615 billion. The Red Sox came in third at $1.312 billion.

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For the full report, please click here.