carmelo-anthony-espn-cover-1476881471-640x427
Getty Images

'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.

From the Web

More on Vibe

Carmelo Anthony Braces For "Next Chapter" With Portland Trail Blazers

Rocking a No. 00 jersey, Carmelo Anthony will have all eyes on him when he takes the court as a Portland Trail Blazer this evening (Nov. 19). The match-up will take place against the New Orleans Pelicans, not only continuing both teams' pursuit of a championship title, but also Anthony's return to form.

"Carmelo is an established star in this league that will provide a respected presence in our locker room and a skill set at a position of need on the floor," the Oregon team's president Neil Olshey said in a statement published by ESPN.

The news, which arrived earlier this month, has been a long time coming for the native New Yorker who consistently expressed his desire to play pro-basketball again. Previously, the 35-year-old played for the Houston Rockets before seeking a new home within the league. According to ESPN, it's been over a year since Anthony played in the NBA.

Anthony's family also wished him well on his journey per an Instagram post from Power co-star LaLa Anthony.

 

View this post on Instagram

 

He is his dad’s #1 fan & super excited for this new opportunity...but when it’s all said and done, he’s still a 12yr old that is going to miss his dad 😢🙏🏽🏀Portland you got a great one 🏀🙏🏽#portlandtrailblazers #stayme7o

A post shared by ℒᎯ ℒᎯ (@lala) on Nov 17, 2019 at 2:24pm PST

MELO WILL BE ACTIVE FOR PORTLAND'S GAME TONIGHT!!!pic.twitter.com/Q9VpDARAeZ

— SLAM (@SLAMonline) November 19, 2019

Continue Reading
Colin Kaepernick looks to make a pass during a private NFL workout held at Charles R Drew high school on November 16, 2019 in Riverdale, Georgia. Due to disagreements between Kaepernick and the NFL the location of the workout was abruptly changed.
Carmen Mandato/Getty Images

Colin Kaepernick Explains Workout Location Change

On Saturday (Nov. 16), Colin Kaepernick showcased his talents for a few NFL teams as part of the league's workout invitational. According to ESPN, the former San Francisco 49ers quarterback switched the venue of the workout from the Atlanta Falcons' training facility to Charles R. Drew High School.

Given this change, the NFL deemed Kaepernick was a no-show to the workout and expressed its "disappointment" in his decision. ESPN notes the venue change "interrupted schedules" for 25 teams ready to view Kaepernick's athletic abilities. The teams that were still present include the Detroit Lions, Washington Redskins, Philadelphia Eagles, New York Jets, Kansas City Chiefs, Tennessee Titans, and the San Francisco 49ers.

Kaepernick stated the location change was made to accommodate the media and spectators. In a statement from the league, the NFL said the workout "was designed to give Colin what he has consistently said he wants, an opportunity to show his football readiness and desire to return to the NFL.” According to CNBC, the session lasted 40 minutes.

On the subject of the media being present, Kaepernick and his team believe those personnel would've been prohibited from attending his workout had it remained where the league originally selected. The 32-year-old's team also called into question a waiver they wanted the pro-athlete to sign.

"The NFL has demanded that as a precondition to the workout, Mr. Kaepernick sign an unusual liability waiver that addresses employment-related issues and rejected the standard liability waiver from physical injury proposed by Mr. Kaepernick's representatives," the response reads. The league countered that by stating the waiver is standard policy used by the National Invitational Camp concerning free agents.

Now, Kaepernick awaits the NFL's response, noting that the "ball's in their court."

Continue Reading
NBA free agent Carmelo Anthony watches play from the sidelines between the Georgia Bulldogs and the Georgia Tech Yellow Jackets on November 24, 2018 at Sanford Stadium in Athens, Georgia.
Scott Cunningham/Getty Images

Carmelo Anthony Will Reportedly Sign Deal With Portland Trail Blazers

Carmelo Anthony has been a topic of heavy discussion concerning his presence in the NBA. The small forward has remained on the outskirts of the league for more than a year but it looks like that'll change in a matter of days.

According to ESPN, the New York native will sign a non-guaranteed deal with the Portland Trail Blazers. The link will see Anthony travel with the team during a six-game string, an opportunity that has seemingly been a long time in the making.

During his free agency, the 35-year-old pro-athlete remained vocal on his desire to hit the hardwood again and potentially win his first championship title. The Blazers' star point guard Damian Lillard has echoed those sentiments of obtaining that coveted trophy. The franchise last won a championship title in 1977.

In an interview with The Huffington Post, Anthony entertained thoughts of retirement but his love for the sport is still burning. "I'm sure it's coming soon," he began. "I'd be sitting lying to you if I said it's not coming soon. I think I want it to come soon. I don't think I want to do this forever, but because you love it so much, it's hard to give it up. At the end of the day, at anything you do, when it's your time to go, it's your time to go. But as long as you feel good with that."

Anthony has suited up for the Denver Nuggets, New York Knicks, Oklahoma City Thunder, and previously the Houston Rockets.

Continue Reading

Top Stories