Knicks Replace Lakers as NBA’s Most Valuable Franchise at $3B
Kurt Badenhausen of Forbes.com shared a report Wednesday that listed the estimated values of all 30 NBA teams. And once again, the New York Knicks are at the top, being named the NBA’s most valuable franchise at an estimated $3 billion. While this is a familiar spot for the Knickerbockers, they were knocked from the top spot last season by the Los Angeles Lakers, who have now been bounced down to the second spot.
”The New York Knicks reclaim the top spot from the Los Angeles Lakers after a one-year hiatus, thanks to a new cable deal and the highest premium-seating revenue in the league at almost $90 million. The split of the media and sports assets of Madison Square Garden Company in September precipitated a new media rights deal for the Knicks with the MSG regional sports network. The 20-year pact kicks off this season and is worth $100 million in the first year.” – Badenhausen, Forbes.com
Badehausen goes on to say that local TV deals have really helped many of these teams surge forward in value. The average NBA franchise is now worth $1.25 billion, which is up 13 percent from last year.
”We value the Knicks at $3 billion, up 20% and fourth most among U.S. sports franchises behind only the Dallas Cowboys ($4 billion), New England Patriots ($3.2 billion) and New York Yankees ($3.2 billion).” – Badenhausen, Forbes.com
While the Knicks’ TV deal might have helped them some, the Lakers posting two of their worst seasons in franchise history also helped them get leapfrogged.
Carmelo Anthony Photo Credit: Nathaniel S. Butler, Getty Images
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