Forbes reports Mariners generated more revenue but less profit in 2016

The Mariners’ operating income declined 31.8 percent last year to $11.6 million, according to Forbes magazine in its annual financial report on Major League Baseball.

Only five of MLB’s 30 clubs made less money.

Forbes contends the drop occurred even though the Mariners showed a 6.6-percent jump last year in revenue to $289 million.

Those findings suggest the Mariners are investing greater amounts in the club, which is a continuing trend. Forbes reported the franchise’s operating income was $17 million in 2015 and $26.4 million in 2014.

Forbes also places the franchise’s value at $1.4 million, which matches the assessed value last year when a group of board members, led by new chairman and…