Today Forbes released their annual list of the NBA's most valuable franchises and sitting in the #1 spot is the team that has been in the spotlight all week for all the wrong reasons. Yes, of course it's the New York Knicks.
"The Knicks are the NBA’s most valuable team for the second straight year, worth $3.3 billion, up 10% over last year."
"The Knicks have been shut out of the playoffs since 2013, but they are reaping the rewards of a $1 billion renovation of Madison Square Garden, which produced new revenue opportunities from sponsorships and seating. The team turned an NBA-record operating profit of $141 million last season despite a 32-50 tally on the hardwood. It was the first season of the team’s new local cable deal with MSG, which paid $100 million in year one."
James Dolan's Knicks are valued at $3.3 billion making them the most valuable NBA franchise ahead of the Lakers, valued at $3 billion.
The Golden State Warriors have a projected worth of $2.6 billion, followed by the Chicago Bulls at $2.5 billion and the $2.2 billion Boston Celtics rounding out the Top-5 most valuable NBA franchises.
In total, 18 of the 30 teams are now worth at least $1 billion with an average worth of $1.36 billion.
Check out the full list below.
1. New York Knicks ($3.3 billion)
2. Los Angeles Lakers ($3 billion)
3. Golden State Warriors ($2.6 billion)
4. Chicago Bulls ($2.5 billion)
5. Boston Celtics ($2.2 billion)
6. Los Angeles Clippers ($2 billion)
7. Brooklyn Nets ($1.8 billion)
8. Houston Rockets ($1.65 billion)
9. Dallas Mavericks ($1.45 billion)
10. Miami Heat ($1.35 billion)
11. Cleveland Cavaliers ($1.2 billion)
12. San Antonio Spurs ($1.175 billion)
13. Toronto Raptors ($1.125 billion)
14. Phoenix Suns ($1.1 billion)
15. Sacramento Kings ($1.075 billion)
16. Portland Trail Blazers ($1.05 billion)
17. Oklahoma City Thunder ($1.025 billion)
18. Washington Wizards ($1 billion)
19. Orlando Magic ($920 million)
20. Utah Jazz ($910 million)
21. Detroit Pistons ($900 million)
22. Denver Nuggets ($890 million)
23. Atlanta Hawks ($885 million)
24. Indiana Pacers ($880 million)
25. Philadelphia 76ers ($800 million)
26. Memphis Grizzlies ($790 million)
27. Milwaukee Bucks ($785 million)
28. Charlotte Hornets ($780 million)
29. Minnesota Timberwolves ($770 million)
30. New Orleans Pelicans ($750 million)
