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'Forbes' Lists New York Knicks, Los Angeles Lakers As NBA's Most Valuable Franchises

This is the first time that two franhchises eclipsed the $3 billion valuation mark.

Even with enduring losses in two thirds of their games over the course of the last three plus seasons, the New York Knicks and Los Angeles Lakers remain atop Forbes' most valuable franchises in the NBA. The two organizations have been on top for quite some time, but this is a first for having two franchises eclipse the $3 billion valuation mark. The average NBA franchise is now worth a whopping $1.4 billion. It is a good time to be associated financially with the NBA. Have you seen their television contract with ESPN and Turner Sports?

Despite all the drama going on within the toxic, dysfunctional New York Knicks franchise, the Jim Dolan owned organization keeps chugging along as a financial juggernaut. The Knicks' $3.3 billion valuation puts them up 10 percent since last season. The 32-50 2016 Knicks churned an NBA-record operating profit of $141 million last season. In the team's first campaign under a new local cable deal with MSG, they netted themselves a solid $100 million in year one. So for everyone that's saying boycott the Knicks and fire Dolan, you probably would be better suited expending your time and energy elsewhere, because nothing is changing with this cash machine.

On to the Showtime Lakers out on the West Coast who enjoyed their worst season ever on the hardwood in 2016. The saving grace: people willing to spend money since it was their beloved Kobe Bryant's last season with the purple and gold. Their $3 billion valuation is right behind the Knicks, raking in a $119 million profit in 2016. The team recently brought back Laker legend Magic Johnson in an advisor role to team ownership.

Rounding out the top five include the Golden State Warriors, Chicago Bulls and Boston Celtics, all with valuations north of the $2 billion mark. The cheapest franchise in the NBA is currently the New Orleans Pelicans with a $750 million assessment. Check out the entire Forbes list for the rest of the rankings here.

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Colin Kaepernick, Eric Reid Reach Confidential Settlement With NFL In Collusion Case

Colin Kaepernick and Eric Reid have reached a confidential settlement with the league Friday (Feb. 15). The agreement brings an end to their collusion lawsuit against the NFL more than a year after the legal bout began.

According to Yahoo Sports, the Kaepernick and Reid would only agreed to settle for a “lucrative financial agreement.” No other details about the terms of the settlement were released.

Kaepernick and Reid filed sued the NFL for collusion in October 2017. The league denied the allegations, but failed in their attempt to have the suit dismissed.

Attorneys Mark Geragos and Ben Meiselas said in a statement that Kaepernick and Reid have engaged in an “ongoing dialogue” with the NFL for the past “several months.”

“As a result of those discussions, the parties have decided to resolve the pending grievances,” the statement explains. “The resolution of this matter is subject to confidentiality agreement so there will be no further comment by any party.”

The NFL Players Association released a statement of support. “We are not privy to the details of the settlement, but support the decision by the players and their counsel,” the statement reads.

“We continuously supported Colin and Eric from the start of their protests, participated with their lawyers throughout their legal proceedings and were prepared to participate in the upcoming trial in pursuit of both truth and justice for what we believe the NFL and its clubs did to them. We are glad that Eric has earned a job and a new contract, and we continue to hope that Colin gets his opportunity as well.”

Jerry Jones, Bob McNair, Robert Craft and several other NFL owners and players were deposed in the case. Reid was recently signed to the Carolina Panthers. Kaepernick remains unsigned.

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— Mark Geragos (@markgeragos) February 15, 2019

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Wisconsin Republicans Scrap Colin Kaepernick's Name From Black History Month Celebration

Republican officials in Wisconsin have reportedly scrapped  Colin Kaepernick's name from the state's annual Black History Month celebration, CBS reports.

The Wisconsin Legislature's Black Caucus, which is composed of Democrats, reportedly drafted their annual resolution to honor dozens of African-Americans from Wisconsin who have made tremendous contributions to the state and history. An early draft included the former San Francisco 49ers quarterback. The resolution credited Kaepernick, who is a Milwaukee native, an an athlete and political activist who "has sought to raise attention to racial injustice and systemic oppression." The Republicans reportedly refused to sign off on the resolution until the Black Caucus agreed to remove Kaepernick's name.

The GOP suggested they would not endorse the inclusion of Kaepernick's name on the resolution due to his controversial protest during the national anthem. Democratic Rep. David Crowley, the resolution's author, called the move a "slap in the face" and a "textbook example of white privilege."

This isn't the first time Wisconsin's lawmakers have attempted to pass on controversial names in the Black History Month resolution. Just last year, the GOP attempted to discard of prominent black leaders like Milwaukee County Sheriff David Clarke, who has been vocal about his support of the Black Lives Matter movement, according to the  Milwaukee Journal Sentinel. 

The final version does not include the former NFL star's name, but has not been approved yet.

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Dwyane Wade Documentary Will Chronicle Life And Career

Dwyane Wade is getting a taste of the made-for-movie treatment because Imagine Documentaries has opted to create a documentary chronicling the All Star's final season in the NBA.

Wade announced his departure from the league in September 2018 to focus on family business, however, the 37-year-old promised fans a farewell season to remember and he is certainly delivering. The film is guaranteed to be the memento supporters were looking for following the news of his impending retreat.

Wade's production company, 59th & Prairie Entertainment, also has a stake in the movie. The film is being directed by Bob Metelus, who is also producing the reel alongside Imagine Documentaries president, Justin Wilkes.

Metelus is known for being Wade's long-time cinematographer who has been filming the three-time champion for several years now, according to Deadline. Given the relationship between Metelus and Wade, fans will be given exclusive footage of the shooting guard's life both on and off the court.

“I’m looking forward to sharing this very personal documentary that peels back the layers of my emotional sixteen season journey with all of its twists and turns, and peaks and valleys," Wade said. "It has been a roller coaster ride and the never-before-seen footage will show my fans how I’ve made my own way throughout this incredible adventure."

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