The Golden State Warriors top Forbes' latest NBA team valuation list at $7 billion, per Mike Ozanian and Justin Teitelbaum.
The Warriors' valuation improved by 25 percent year-to-year. The franchise finished No. 1 in revenue ($765 million after paying into revenue sharing) and operating income ($206 million), both the highest in NBA history, in a season capped by its fourth championship since 2015.
This marks the first time in the history of Forbes' NBA team valuation list, which spans over two decades, that the Los Angeles Lakers or New York Knicks did not take the top spot.
Golden State jumped New York and L.A. after a full season with fans at its new home in San Francisco, the Chase Center. Per Forbes, Golden State made $150 million in arena sponsorships and advertising and $250 million from premium seating.
The Knicks and Lakers are still doing well, however. The top five consist of New York ($6.1 billion), L.A. ($5.9 billion), the Chicago Bulls ($4.1 billion) and the Boston Celtics ($4 billion). The Knicks had finished No. 1 on the list in each of the last seven years.
All 30 NBA teams are valued at $1.6 billion or more; the New Orleans Pelicans occupy the back end of the list.
The average NBA team has a $2.86 billion valuation, or 15 percent more than last year. Twelve NBA teams are valued at $3 billion or more.