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Knicks named most valuable NBA team

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For the second straight year the New York Knicks have been named the most valuable franchise in the NBA, according to Forbes annual list.

While the Knicks have been struggling on the court this season, they are still a revenue making machine and worth an estimated $1.4 billion. The New York franchise recorded a record profit of $96m last year, no doubt helped by the renovation undertaken at Madison Sqaure Garden.

Los Angeles Lakers came in just behind the Knicks in second place with a value of $2.35 billion and a not at all bad profit of $66m on the year. Four years of incredible attendances and cutting the playing budget has seen the Chicago Bulls become the third billion dollar team in the NBA and a big money maker. 

The biggest risers were the Brooklyn Nets who clearly profited off the move away from New Jersey and to the Barclays Center. In the two years since the move, the Nets worth has more than doubled, going from the 14th most valuable side at $357m, to number 5 on the list with a worth of $780 million. 

All this financial success must go to David Stern. In his 30 year reign at the head of the NBA, Stern has changed the league from a mediocre league riddled with drug issues, to a global machine that pulls in revenue from all over the world and even playing games to sold out crowds in other countries. 

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