Knicks retain top spot as Forbes' most valuable NBA team

Knicks retain top spot as Forbes' most valuable NBA team

The New Orleans Pelicans are the least valuable franchise in the National Basketball Association, according to Forbes Magazine's annual valuations, coming in at approximately $1 billion.

The Knicks remain atop that list, worth $3.6 billion (2.94 billion euros) and another iconic club, the Lakers, are now worth an estimated $3.3 billion. The Warriors, of course, have assembled one of the best teams of all time, but some of their value may come from their location and proximity to Silicon Valley.

Forbes said that the Knicks, with revenue of $426 million, continue to profit from the recent $1 billion renovation to Madison Square Garden.

James Dolan's Knicks are valued at a record $3.6 billion.

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The publication pegs the team's value at $2.6 billion, an increase of $100 million from the team's 2017 ranking.


The Suns' value shot up 16 percent from last year's $1.1 billion to $1.28 billion.

The Nets surprisingly continue to increase in value despite the team reporting a loss of $44.3 million past year, according to ESPN.

Forbes said the Cleveland Cavaliers, ranked 15th on the list with a value of $1.3 billion, were the only franchise to lose money on an operating basis due to its significant payroll and luxury tax bill.

"The NBA is extremely well-positioned for worldwide growth", Sal Galatioto, president of leading sports finance and advisory firm Galatioto Sports Partners, told Forbes.

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