New York Knicks Top FORBES List of NBA’s Richest Team

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The New York Knicks topped the Forbes Most Valuable NBA Teams list with an estimated worth of $655M according to the financial periodical. Gotham’s storied but underachieving professional basketball franchise seen it’s value rise 12% from $586M to $655M due to an increase in ticket sales which may be attributed to the teams resurgence and the play of newly acquired All Star power forward Amar’e Stoudemire. The Los Angeles Lakers who previously occupied the top spot came in second and seen it’s value go up 6% from $607M to $643M. The Bulls take third at $511M, followed by the Celtics ($452M), Rockets ($443M) and Mavericks ($438M). The Miami Heat had the biggest increase in value at 17% bringing it’s worth to $425M and a seventh place ranking. However following the loss of James, The Cavaliers seen it’s value tumble to a league high 26% to $355 million. Interestingly enough, 17 of the 30 NBA teams are estimated to have taken a financial loss after the 2009-2010 season.

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