New York Knicks Top Forbes List Of NBA's Most Valuable Teams
In the past three years, either Kobe Bryant or LeBron James have taken home the Maurice Podoloff Trophy as the National Basketball Associationโs MVP, but neither superstar can claim to play for the most valuable team in the league.
According to Forbes.com, the New York Knicks now hold the distinction of being the NBAโs most valuable franchise, supplanting the two-time defending champion Los Angeles Lakers.
The value of the resurgent Knicks rose from $586 million to $655 million in the past year, an increase of 12 percent.ย The rise was directly linked to the free-agent signing of Amarโe Stoudemire, who has helped the team earn victories both on court and in the boardroom with sponsors.
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For the first time in nearly a decade, the Knicks sold out their full season ticket inventory, while their parent company, Madison Square Garden, Inc., signed a sponsorship deal with JPMorgan Chase thatโs worth at least $30 million annually over 10 years.
With superstar forward Carmelo Anthony on his way to the Big Apple and ongoing renovations at the Garden, the Knicks could very well own the top spot for several years to come.
Although the name LeBron James doesnโt appear anywhere on the Knicksโ roster, he drastically impacted the fortunes of two teams when he took his talents to South Beach.
After signing James to join Dwyane Wade and Chris Bosh, the Miami Heatโs worth increased 17 percentโthe best percentage rise in the leagueโto $425 million.
Meanwhile, the Cleveland Cavaliersโ valuation plummeted 26 percentโthe largest decreaseโto $355 million.
The average value of a franchise increased one percent to $369 million, down from a peak of $379 million two years ago.
Forbesโ Most Valuable NBA Teams
1. New York Knicks - $655 million
2. Los Angeles Lakers - $643 million
3. Chicago Bulls - $511 million
4. Boston Celtics - $452 million
5. Houston Rockets - $443 million
6. Dallas Mavericks - $438 million
7. Miami Heat - $425 million
8. Phoenix Suns - $411 million
9. San Antonio Spurs - $404 million
10. Toronto Raptors - $399 million
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