'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?
The NBA's Most Valuable Teams via @Forbes:
1. Knicks $3.3B
2. Lakers $3B
3. Warriors $2.6B
4. Bulls $2.5B
5. Celtics $2.2B
6. Clippers $2B
— Arash Markazi (@ArashMarkazi) February 15, 2017
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.
— Forbes SportsMoney (@SportsMoneyBlog) February 15, 2017
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.
Magic Johnson and Kobe Bryant running the LA Lakers?
— SportsCenter (@SportsCenter) February 14, 2017
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.
Forbes released their annual NBA team valuations. What's the estimated worth of your favorite team? Here is the complete list: pic.twitter.com/O1xwbGPp04
— Alex Kennedy (@AlexKennedyNBA) February 16, 2017