Forbes: Knicks most valuable NBA franchise for second year in a row
The New York Knicks are no doubt going through another drama-filled season, but as Kurt Badenhausen of Forbes reported on Wednesday, the franchise is ranked the most valuable in the NBA for a second consecutive year.
According to Forbes, the Knicks are currently worth $1.4 billion, up 27 percent from a year ago, and top the Los Angeles Lakers, who are up 35 percent from last year to an assessed value of $1.35 billion, as the most valuable organization in the league. The Chicago Bulls, valued at $1 billion, were third and the Boston Celtics came in at fourth with $875 million.
The average NBA franchise is worth $634 million, this is, equity plus debt, a figure that represents a 25 percent jump over last year's average team value. By comparison, Forbes reports the average NFL team is worth $1.17 billion.