The +New York Knicks has been named the most valuable NBA Franchise. Forbes released its annual list of richest NBA teams, and the Knicks come in first at $1.4 billion. New York is one of three teams in the league that are worth over a billion dollars, with the runners-up on the list being the Los Angeles Lakers ($1.35 billion) and Chicago Bulls ($1 billion). The top five of the list is rounded out by the Boston Celtics ($875 million) and Brooklyn Nets ($780 million).
A major part of the profitability of the Knicks and Lakers is their television revenue. In addition to being massively popular global brands, both teams essentially control their own television networks, the Knicks’ MSG and the Lakers’ Time Warner Cable SportsNet. Forbes reported that the Lakers have the richest local television agreement in the NBA, worth $3.6 billion over 20 years.
Coming in last on the list are the Milwaukee Bucks, worth an estimated $405 million, well below the league average of $634 million. The two-time defending NBA champions, the Miami Heat, are the seventh-most profitable team in the league at $770 million, and the team with the current best record in the league, the Indiana Pacers, come in at No. 22, with a $475 million total value.