Knicks top Forbes list of most valuable NBA franchises
New York Knicks top Forbes list of most valuable franchise in the NBA.
The New York Knicks haven’t had much success on the basketball court recently, but that hasn’t stopped them from raking in the dough. According to Forbes‘ annual Most Valuable Sports Teams list, the Knicks are the most valuable franchise in the NBA.
The New York franchise is valued at $3.3 billion, a 10 percent increase from 2016. No wonder they can afford to pay Tim Hardaway Jr. $71 million over four years.
The Knicks rank seventh overall, trailing such prominent franchises as the New York Yankees, Dallas Cowboys, and Manchester United.
The Los Angeles Lakers were the only other team in the top 10 on the list. The Lakers are valued at $3 billion, tying them at ninth overall with the San Francisco 49ers. Seven NBA franchises made the cut, none of which are all that surprising.
The Golden State Warriors ($2.6 billion) came in at number 20. The Warriors saw a 37 percent increase from 2016, which was the third largest increase on the list. Only the Los Angeles Rams (an unfair 100 percent increase due to relocation) and Minnesota Vikings (38 percent due in large part to a new stadium) saw bigger revenue increases. Any increase the team sees next year can be attributed to Kevin Durant’s pay cut.
The Chicago Bulls ($2.5 billion), Boston Celtics ($2.2 billion), Los Angeles Clippers ($2 billion), and Brooklyn Nets ($1.8 billion) were the other franchises to crack the top 50. No franchise on the list saw a decrease in revenue from the prior year, although the Clippers were the only team to see no increase.
The NBA tied soccer with seven franchises in the top 50. Both leagues trailed MLB and NFL in number of franchises on the list.
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The Knicks and Lakers being the top two most valuable franchises in the NBA just goes to show that short term success doesn’t change your bottom line. The two teams combined to win less games the Warriors, but market still matters.