1 week ago
At 10-43, the New York Knicks are the worst team in the NBA.
With that $4 billion valuation, the Knicks are tied with the New York Yankees as the second-most-valuable U.S. sports franchises. Both trail the Dallas Cowboys (worth $5 billion).
“Despite nearly two decades of losing, the Knicks command premium prices for tickets, suites, and sponsorships,” according to Forbes. “The team’s local cable deal with MSG, worth more than $100 million a year, is the second richest in the sport behind that of the Los Angeles Lakers.”
Overall, NBA team values increased by an average of 13 percent year-over-year and the average NBA franchise is now worth $1.9 billion.
Following the Knicks on the list are the Los Angeles Lakers ($3.7B), Golden State Warriors ($3.5B), Chicago Bulls ($2.9B), and Boston Celtics ($2.8B).
At the bottom of the league are the Pistons ($1.27B), Timberwolves ($1.26B), Hornets ($1.25B), Pelicans ($1.22B), and Grizzlies ($1.20B)
When looking at this list, it’s worth bearing in mind that Golden State’s ownership group bought the Warriors in 2010 for $450 million.
In the past five years, the value of the franchise is up an astounding 367 percent.Read the full story at Forbes