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New York Knicks top Forbes list with $4.6 billion valuation

Average NBA team value surpasses $2 billion for the first time

Wednesday 12 February 2020 05:58, UK

A close up of the New York Knicks logo
Image: The New York Knicks are once again the most valuable team in the NBA

The New York Knicks have topped the Forbes list of the most valuable NBA teams for the fifth straight year, being valued at $4.6 billion (£3.55 billion).

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The Knicks, who last won an NBA title in 1973, have seen their value increase by 15 per cent in the last year, due to a renovation of their arena, a blockbuster local TV deal and playing in the richest North American sports market.

The list comes one week after owner James Dolan said amid a shakeup to the Knicks' front office that he is not selling the team and remains committed to finding the right leader that can lift the once-proud franchise back to prominence.

Javale McGee, Rajon Rondo and LeBron James in discussion during a preseason game
Image: The Los Angeles Lakers are second on the list compiled by Forbes

The Los Angeles Lakers are second on the list with a value of $4.4 billion (£3.4 billion) just ahead of Golden State Warriors who have an estimated worth of $4.3 billion (£3.3 billion).

The Chicago Bulls are valued at $3.2 billion (£2.45 billion) with the Boston Celtics at $3.1 billion (£2.4 billion) completing the top five.

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The reigning NBA champion Toronto Raptors were 10th on the list with a value of $2.1 billion (£1.6 billion), a 25 per cent jump from a year ago, which represents the biggest gain in value in the league.

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Forbes also said the average value of the NBA's 30 teams is $2.12 billion (£1.65 billion), marking the first time team averages have exceeded $2 billion (£1.55 billion).

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