LOS ANGELES — The New York Knicks have the NBA’s worst record, but Forbes says the franchise remains the league’s most valuable for the fourth consecutive year at $4 billion.
The Los Angeles Lakers ($3.7 billion), Golden State Warriors ($3.5 billion), Chicago Bulls ($2.9 billion) and Boston Celtics ($2.8 billion) round out the top five in the annual rankings released Wednesday.
According to Forbes, the average NBA team is worth $1.9 billion, a 13% increase from last year.
The Knicks boosted their value by 11% since 2018, despite spiraling toward their sixth consecutive season without a playoff berth. Forbes said the franchise is still reaping the rewards of a $1 billion renovation to Madison Square Garden that was completed in 2013.
The Knicks are tied with the New York Yankees as the second-most-valuable US sports franchise behind the Dallas Cowboys, worth an estimated $5 billion.
The Philadelphia 76ers had the NBA’s biggest increase in value for the second straight year, up 40% to $1.65 billion.
The Memphis Grizzlies were the least-valuable franchise at $1.2 billion. — Reuters