Tuesday, 24 November, 2020

New York Knicks, at $4.6 billion, NBA’s highest valued team

Forbes: Knicks lead NBA in franchise value Golden State Warriors enter NBA's $4B club amid on-court struggles: Report
Cary Erickson | 14 February, 2020, 10:41

'We are actively looking for a new president of the New York Knicks and hope to conclude the search as quickly as possible, ' Dolan said in a statement. Golden State is one of just three teams to draw a valuation of at least $4 billion in Forbes' rankings.

The average National Basketball Association franchise is now valued at slightly more than $2.1 billion, with Forbes saying the New York Knicks - worth $4.6 billion by the magazine's calculations - rank atop the league list and grew by 15% over the previous year. It also reported that the NBA's 30 teams generated a record US$8.8 billion in revenue last season, up ten per cent over the previous year.

With All-Stars Kemba Walker and Jayson Tatum on the roster, consistent regular-season success leading to postseason berths and a die-hard fan base, there's no wonder the Celtics are ranked so highly.

'The NBA fundamentals are still strong, and the league is extremely well managed, ' Sal Galatioto of Galatioto Sports Partners told Forbes. Only NFL franchise Dallas Cowboys ($5.5 billion) are worth more than the Knicks among the sports franchises in North America. The Knicks topped the list, with the Lakers at number-two and the Warriors third.

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For the Knicks, now a lowly 13th in the Eastern Conference, the list comes after their owner James Dolan reiterated he had no plans to sell the franchise and was on the hunt for a new president to help turn their fortunes around.

According to multiple reports, the Knicks plan to hire agent Leon Rose to become the team's next president, but before he can be hired, he needs to sever ties with his clients.

Forbes says Chicago is worth 3.2-billion dollars. That represented the biggest gain in value in the league.