Forbes announces its annual valuations of the National Basketball Association’s 30 teams, naming the New York Knicks as the most valuable team worth $1.4 billion.
Following a three-year renovation of its stadium Madison Square Garden, the Knicks increased 27% in value making the team No. 1 on the list for the second consecutive year.
The Los Angeles Lakers, valued at $1.35 billion and the Chicago Bulls valued at $1.0 billion are the only other two NBA teams with a current value of at least $1 billion. The average NBA team is now worth $634 million, 25% more than a year ago.
The top 10 most valuable teams in the NBA are (in $millions):
- New York Knicks (1,400)
- Los Angeles Lakers (1,350)
- Chicago Bulls (1,000)
- Boston Celtics (875)
- Brooklyn Nets (780)
- Houston Rockets (775)
- Miami Heat (770)
- Dallas Mavericks (765)
- Golden State Warriors (750)
- San Antonio Spurs (660)