June 18 (Bloomberg) -- Roush Fenway Racing, the Nascar team that's half-owned by the group that controls the Boston Red Sox, is worth $316 million and the most valuable operation in North American stock-car racing, according to Forbes Magazine's annual survey.

The value of Roush Fenway surged 45 percent from a year ago as revenue jumped to $189 million in 2006 from $108 million, Forbes said in its list of the 15 richest teams in Nascar. Fenway Sports Group, which is controlled by Red Sox owner John Henry, and Michigan engineering company owner Jack Roush each have a 50 percent stake in the team.

The top three teams in Nascar, which are Roush Fenway, Hendrick Motorsports and Joe Gibbs Racing, didn't change positions this year. Hendrick closed in on the top spot after its value more than doubled to $297 million. The team last week announced it signed Dale Earnhardt Jr., voted Nascar's most popular driver by fans, to drive next season.

Forbes estimates the value of teams based on past and pending deals, sponsorship agreements and the scale of operations. Revenue includes all Nascar-related income, Forbes said. Roush Fenway is Nascar's biggest team, with five full-time cars in the top Nextel Cup Series and four in the second-tier Busch Series.

Average annual profit for Nascar teams was $12.3 million before income taxes, depreciation and amortization, about 15 percent of revenue, Forbes said. Major League Baseball teams average $16.5 million, or less than 10 percent of revenue, according to the magazine.

Gibbs Racing

The value of Gibbs Racing, owned by Washington Redskins Coach Joe Gibbs, rose to $173 million from $103 million. Evernham Motorsports jumped two spots to fourth place with a value of $128 million. The Statesville, North Carolina-based team, which is owned by former Hendrick crew chief Ray Evernham, is in talks to sell a stake to Montreal Canadiens owner George Gillett.

Richard Childress Racing, which fielded the black No. 3 cars of seven-time champion Dale Earnhardt Sr. until his death in 2001, slipped one spot to fifth at a value of $124 million. Dale Earnhardt Inc., the team run by Earnhardt's widow, Teresa Earnhardt, moved up one slot to sixth at $118 million.

Michael Waltrip Racing, which is the flagship team for Toyota Motor Corp.'s entry into Nextel Cup racing, was the biggest mover, gaining six places to ninth with a value of $91 million. Team Red Bull, the only new race team on the list, debuted at No. 12 with a value of $53 million.

Robert Yates Racing gained two spots to claim seventh on the list, and Chip Ganassi Racing slipped three spots to eighth. Penske Racing rounded out the top 10.

All of the teams are located in the region around Charlotte, North Carolina.

To contact the reporter on this story: Gene Laverty in Calgary at glaverty@bloomberg.net.

Last Updated: June 18, 2007 17:44 EDT