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New York Knicks (2x NBA Champions)

Forbes says Knicks are worth $3 billion, most valuable team in NBA

The New York Knicks are the most valuable team in the NBA and fourth among all US sports franchises, according to Forbes. They are worth a whopping $3 billion after signing a new local television deal.

From Forbes:

The average NBA franchise is now worth $1.25 billion, up 13% over last year on the heels of a 74% gain the previous year after the national media deals were completed.

The New York Knicks reclaim the top spot from the Los Angeles Lakers after a one-year hiatus, thanks to a new cable deal and the highest premium-seating revenue in the league at almost $90 million. The split of the media and sports assets of Madison Square Garden Company in September precipitated a new media rights deal for the Knicks with the MSG regional sports network. The 20-year pact kicks off this season and is worth $100 million in the first year. We value the Knicks at $3 billion, up 20% and fourth most among U.S. sports franchises behind only the Dallas Cowboys ($4 billion), New England Patriots ($3.2 billion) and New York Yankees ($3.2 billion).

The last two seasons rank among the three worst in Lakers history, and the 2015-16 season, which doubles as Kobe Bryant's retirement tour, is shaping up even worse. Even so, the Lakers are the NBA's most profitable team thanks to the club's 20-year, $3.6 billion deal with Time Warner Cable's SportsNet LA. Ratings were off more than 50% for Lakers' games during the 2014-15 season with Bryant sidelined by injuries most of the year, but the average audience size of 122,000 viewers per game was still the second highest in the NBA. Operating profits, in the sense of earnings before interest, taxes, depreciation and amortization, were an NBA-record $133 million last season by our count. The Lakers are now worth $2.7 billion.

Rounding out the top five are the Chicago Bulls ($2.3 billion), Boston Celtics ($2.1 billion) and Los Angeles Clippers ($2 billion). Thirteen teams are worth at least $1 billion, up from just three two years ago.

Entire article: http://www.cbssports.com/nba/eye-on...are-worth-3-billion-most-valuable-team-in-nba
 
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