Money Ball: Forbes Study Names Knicks NBA's Most Profitable
It's said if you can make it in New York, you can make it anywhere. The New York Knicks have done that and then some, at least from a financial perspective, during a difficult time in the sports business arena.
A study from American business magazine Forbes compiled a list of the most profitable professional sports franchises over the past three years, a grouping topped by the NFL's Dallas Cowboys. The Knicks, at a profit of $404 million, were the top ranked NBA group on the list, placing fourth behind the two NFL teams (Dallas and the New England Patriots) and English soccer club Tottenham Hotspur. Another soccer team, Manchester United, rounded out the top five.
A team's profit margin was determined by "earnings before interest, taxes, depreciation and amortization." For the Knicks and their NBA brethren (as well as groups considered from MLB, the NHL, and international soccer leagues), financial statistics through 2022 were considered, while those from the NFL (whose profits were significantly boosted by massive television deals) counted through the end of 2021.
The obvious New York allure aside (the Knicks were joined on the list by the Giants and Jets, their tri-state area compatriots from the NFL), the Knicks' appeal lingers thanks to the team's dedicated fanbase, which did its utmost to make its prescience felt when spectators began to return to live events upon the loosening of COVID-19 restrictions. Though the Knicks dropped a five-game set to the Atlanta Hawks in the 2021 postseason's opening round, fans came out in droves and their jubilation upon New York's only win in the series was well-documented.
The allure of the Knicks may only heighten if this past season was a sign of things to come: New York won 47 games and a five-game opening round set over the Cleveland Cavaliers, reaching landmarks they hadn't seen since 2013. That newfound success came with the arrival of point guard Jalen Brunson, who lived up to every caveat of a $104 million contract's first season.
Geoff Magliocchetti is on Twitter @GeoffJMags
Want the latest in breaking news and insider information on the Knicks? Click Here.
Follow AllKnicks.com on Twitter.
