NEW YORK (CBSNewYork/AP) — The New York Knicks are worth $3 billion, highest in the NBA, according to Forbes.
Forbes said Wednesday in its annual ranking of franchise valuations that the Knicks regained the top spot from the Los Angeles Lakers thanks to a 20 percent value increase from 2015. It says the increase was driven by a new cable deal and the highest premium-seating revenue in the league.READ MORE: Foo Fighters Rock MSG In First Full-Capacity Show In New York City Since Most COVID-19 Restrictions Lifted
The Lakers have a value of $2.7 billion. The Chicago Bulls, Boston Celtics and Los Angeles Clippers rounded out the top five.READ MORE: Driver Wanted After Jeep Plows Into Family On Bronx Sidewalk; 'Car Sped Up To Hit Us,' Witness Says
The Golden State Warriors, the reigning NBA champions, came in sixth with a valuation of $1.9 billion, followed by the Brooklyn Nets at $1.7 billion.
Forbes says the average NBA team is now worth $1.3 billion, a 13 percent increase from 2015, and the $5.2 billion in revenue teams generated last season was a record for the league.MORE NEWS: Eric Adams: Mayoral Campaign Worker Stabbed In Bronx
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