Forbes Lists Knicks as Most Valuable Franchise
For the second year in a row, Forbes has placed the New York Knicks as the most valuable franchise in the NBA. Despite all of their losing, the up and down Knicks are worth a whopping $1.4 billion and made a net profit of $96 million last year.
Furthermore, the Knicks have made major renovations to the Garden over the past few years and it has increased the worth of the franchise over all.
The Los Angeles Lakers finished in second and are worth $1.35 billion and made a profit of $66 million last year. In third place were the Chicago Bulls worth an even $1 billion. And in fourth place were the Boston Celtics, which were worth $875 million.
It wasn’t too long ago that team owners were saying that they their franchises were losing money every season. However, after the new CBA (Collective Bargaining Agreement) it appears that the CBA is paying dividends for the owners now. However, whether they were truly losing money or not in the first place remains a question mark.