Forbes says that the New York Knicks are the most valuable team in the NBA even though they aren’t successful on the court.
The New York Knicks are the most dysfunctional team in the NBA, but they are also the most valuable.
According to Forbes, the Knicks are worth $3.3 billion, which is up ten percent over last year. For the 2015-16 season, the team made an NBA operating profit record of $141 million.
The Los Angeles Lakers, who are worth $3 billion, are the second most valuable team in the NBA. The Golden State Warriors are third at $2.6 billion. The teams rounding out the top five are the Chicago Bulls at $2.5 billion and the Boston Celtics at $2.2 billion.
New York’s other team, the Brooklyn Nets, are seventh on Forbes’ list at $1.8 billion. The average NBA franchise is now worth $1.36 billion, which is a 3.5–fold increase over the last five years. The rise in value has a lot to do with the league’s $24 billion TV deal with ESPN/ABC and TNT, according to Darren Rovell of ESPN.
While the Knicks are the NBA’s most valuable team they are struggling on the court as they are 23-33. Let’s hope that the Knicks’ monetary rise translates to an increase in wins.