In its annual publication of NBA franchise values, Forbes said the Knicks increased their value 41 percent to $1.1 billion, thanks to the $980 million renovation of Madison Square Garden, an increase in TV ratings, and the team's better performance in games.
"The Knicks’ home arena, Madison Square Garden, is in the final stages of a $980 million renovation, to be completed this summer," Forbes said. "The makeover resulted in an NBA-leading $243 million in revenue last season. Another plus: better play. In 2012, the Knicks won a playoff game for the first time since 2001."
The Los Angeles Lakers, who topped last year's list, are now second, with a value of $1 billion.
Rounding the Top 5 most valuable NBA teams are Chicago Bulls ($800 million), Boston Celtics ($730 million), and Dallas Mavericks ($685 million).
The report released Wednesday estimated the average NBA team’s value at $509 million, which is 30 percent higher than last year.
Check out below the value of each NBA team according to Forbes annual survey:
1. New York Knicks: $1.1B 2. Los Angeles Lakers: $1B 3. Chicago Bulls: $800M 4. Boston Celtics: $730M 5. Dallas Mavericks: $685M 6. Miami Heat: $625M 7. Houston Rocket: $568M 8. Warriors: $555M 9. Brooklyn Nets: $530M 10. San Antonio Spurs: $527M |
11.Kings: $525M 12. OC Thunder: $475M 13. Phoenix Suns:$474M 14. Orlando Magic: $470M 15. Trail Blazers: $457M 16. Cavaliers: $434M 17. Utah Jazz: $432M 18. LA Clippers: $430M 19. Nuggets: $427M 20. 76ers: $418M |
21. Toronto Raptors: $405M 22. Detroit Pistons: $400M 23. Washington Wizards: $397M 24. Indiana Pacers: $383M 25. Memphis Grizzlies: $377M 26. Timberwolves: $364M 27. New Orleans Hornets: $340M 28. Atlanta Hawks: $316M 29. Charlotte Bobcats: $315M 30. Milwaukee Bucks: $312M |
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