New York Knics, Porzingis

(Associated Press)

Forbes: Knicks Worth $3 Billion, NBA Revenues at Record High

Sports Associated Press

The New York Knicks are worth $3 billion, highest in the NBA, according to Forbes.

Continue Reading Below

Forbes said Wednesday in its annual ranking of franchise valuations that the Knicks regained the top spot from the Los Angeles Lakers thanks to a 20 percent value increase from 2015. It says the increase was driven by a new cable deal and the highest premium-seating revenue in the league.

The Lakers have a value of $2.7 billion. The Chicago Bulls, Boston Celtics and Los Angeles Clippers rounded out the top five.

Forbes says the average NBA team is now worth $1.3 billion, a 13 percent increase from 2015, and the $5.2 billion in revenue teams generated last season was a record for the league.
 

What do you think?

Click the button below to comment on this article.