Knicks Top $5B in Forbes' List of 2021 NBA Team Values; Warriors 2nd, Lakers 3rd
For the sixth straight year the New York Knicks have topped Forbes' list of the most valuable NBA franchises, coming in at an estimated value of $5 billion.
The Golden State Warriors ($4.7 billion), Los Angeles Lakers ($4.6 billion), Chicago Bulls ($3.3 billion) and Boston Celtics ($3.2 billion) rounded out the top five.
"The Knicks have lost nearly 70 percent of their games over the past six seasons and won only one playoff series since 2000 and have still managed to retain the No. 1 spot," Forbes senior editor Kurt Badenhausen said. "The team's valuation is largely a result of the $1 billion renovation of MSG, a blockbuster local TV deal and the team's place in the largest and richest North American sports market."
In other words, seven straight seasons without a playoff appearance hasn't hurt the team's valuation. In fact, the Knicks are just one of three teams to reach the $5 billion valuation benchmark, joining the Dallas Cowboys and New York Yankees.
The Warriors, meanwhile, overtook the Lakers for the No. 2 spot this season due to the opening of the $1 billion Chase Center in 2020.
As for overall team values, Badenhausen wrote:
"The average team value crept up to $2.2 billion, from $2.1 billion last year, a four percent increase that is the smallest gain since 2010, which ended a three-year overall drop in values because of the economic fallout from the housing crisis. For comparison, it matches the rise in value for MLB teams and trails the seven percent gain for the NFL. NHL values fell two percent. Leaguewide revenue dipped 10 percent to $7.9 billion."
That drop coincides with the COVID-19 pandemic, which forced the league to finish the 2019-20 season in a bubble environment at the Walt Disney World Resort near Orlando, Florida, without paying fans in attendance. But it didn't hurt the Knicks or Warriors, as each saw franchise valuations rise by approximately 9 percent.
