The New York Knicks and the Los Angeles Lakers are the first two NBA teams to be worth at least $1 billion. According to Forbes, they are the two most valuable franchises in the NBA.
Forbes estimates "the Knicks’ value rose 41%, mainly due to a $980 million renovation of Madison Square Garden" and ratings for Knicks games that "more than doubled last year on MSG thanks to Linsanity and the 2012 playoff appearance." The Knicks are valued at $1.1 billion.
The Lakers are worth $1 billion and rank No. 2, and the value of the Brooklyn Nets went up 48% after the team left New Jersey after last season. Brooklyn's franchise is worth $530 million, making the team the ninth most valuable team.
According to Forbes, the average NBA team is worth $509 million, which is a 30% increase from last season. The Milwaukee Bucks franchise, which is worth $312 million, is the least valuable NBA franchise.
Here are the ten most valuable NBA franchises:
1. New York Knicks, $1.1 billion
2. Los Angeles Lakers, $1 billion
3. Chicago Bulls, $800 million
4. Boston Celtics, $730 million
5. Dallas Mavericks, $685 million
6. Miami Heat, $625 million
7. Houston Rockets, $568 million
8. Golden State Warriors, $555 million
9. Brooklyn Nets, $530 million
10. San Antonio Spurs, $527 million