New York Knicks Named The Most Valuable Team In The NBA
The 15-26 New York Knicks have something to be proud about.
According to Forbes, the Knickerbockers are the most valuable team in the NBA.
Their value at the moment is at $1.4 billon.
A second round playoff run and higher revenue from the $1 billion renovation of Madison Square Garden pushed the Knicks’ operating income to $96 million last season, the highest in the history of the NBA. The team also boasted the second largest average TV audience per game (230,000), behind only the Los Angeles Lakers. Both the Knicks and MSG Network are owned by the publicly traded Madison Square Garden Company.
All the numbers are for the 2012-2013 season, but they have been able to run at a profit of $96 million. The second team on the list is the Los Angeles Lakers ($1.35 billion) followed by the Chicago Bulls ($1 billion), Boston Celtics ($875 million) and finally the Brooklyn Nets ($780 million.)
The interesting number on the Brooklyn Nets is that for the 2012-2013 season they were actually operating at a loss of $19 million. With an expected loss of $50 million this season due to a “$101 million payroll and luxury tax bill of at least $80 million.”