Knicks top Forbes' most valuable NBA franchises

Miami Heat small forward LeBron James (6) controls the ball against New York Knicks shooting guard...

Miami Heat small forward LeBron James (6) controls the ball against New York Knicks shooting guard Iman Shumpert (21) during the third quarter of a game at Madison Square Garden. (Brad Penner-USA TODAY Sports)

THE SPORTS XCHANGE

, Last Updated: 12:28 PM ET

The New York Knicks are struggling on the court, but the franchise ranks as the most valuable in the NBA, according to Forbes.

The magazine's annual rankings of NBA franchises kept the Knicks at the top for the second consecutive year with a net worth of $1.4 billion.

Forbes noted that the Knicks were aided by a Madison Square Garden renovation that boosted profits to a record $96 million last season.

In second was the Los Angeles Lakers at $1.35 billion. Forbes reported that the Lakers had a $66 million operating profit last year.

The Chicago Bulls came in third at $1 billion, followed by the Boston Celtics at $875 million and the fast-rising Brooklyn Nets at $780 million.

NBA franchise values overall are increasing. Teams are worth an average $634 million, which is an increase of 25 percent over a year ago. The Nets made the biggest jump at 47 percent over last year. Per-team profits also doubled to a record-high $23.7 million.

By comparison, NFL franchise values remain much greater. The average NFL team is worth $1.17 billion. Twenty-three teams are estimated to have values of more than $1 billion. The NBA has only three above $1 billion.

 


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