NY Knicks retain top spot as most valuable NBA team: Forbes
The Knicks have not made the playoffs since 2013 but their value rose to $4 billion, up 11 percent from a year ago, due to a series of new revenue streams made possible by a renovation to Madison Square Garden. The Los Angeles Lakers ($3.7 billion), reigning NBA champion Golden State Warriors ($3.5 billion), Chicago Bulls ($2.9 billion) and Boston Celtics ($2.8 billion) rounded out the top five, Forbes said in a statement. The Cleveland Cavaliers, faced with a long-term rebuild after losing three-time NBA champion LeBron James to free agency last offseason, were the only franchise to lose money on an operating basis and decrease in value.
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