Caption
Close
It seems no amount of dysfunction – whether on the court or off – can hurt Knicks owner James Dolan’s bottom line.
Thanks in large part to a new $100 million deal with regional cable network MSG, the Knicks are the NBA’s most valuable franchise for the second year in a row, listed at $3.3 billion according to Forbes’ annual valuations.
Making a slight move from No. 12 to No. 11 are the Spurs. The team’s value jumped up to $1.18 billion, a “modest” one-year increase of $30 million.
Fueled by a $24 billion media rights deal with Turner Broadcasting and Disney, the NBA generated $5.9 billion in revenue last season, a record high.
Eighteen of the league’s 30 teams are worth at least $1 billion, while six top $2 billion: the Knicks, Lakers ($3 billion), Warriors ($2.6b), Bulls ($2.5b), Celtics ($2.2b), and Clippers ($2b).
The Cavaliers – breakers of Cleveland’s 52-year citywide championship drought – actually finished the year in the red, losing $40 million, the fifth-largest loss in NBA history.
The Clippers and Thunder also lost money.
nmoyle@express-news.net
Twitter: @NRmoyle
Our editors found this article on this site using Google and regenerated it for our readers.
