NEW YORK – The New York Knicks have dominated the NBA when it comes to the overall value of the team. The Knicks maintain the No. 1 spot on Forbes’ 24th annual NBA Team Valuations, a ranking by the magazine of the most valuable NBA franchises. The Knicks are worth $5.8 billion and are up 16% from the last Forbes ranking. This is the seventh consecutive year the Knicks are at the top of the NBA’s most valuable list.
Being the most valuable team hasn’t led to much success on the court for the Knicks. The team made the postseason for the first time last season in the past eight years. So far this season, the Knicks are 6-3 and tied with the Brooklyn Nets in the Eastern Conference.
The Knicks are owned by the Madison Square Garden Sports Corp., which also owns the NY Rangers NHL team.
Despite the pandemic that kept fans from attending NBA games for most of the 2020-21 season, Forbes found the average team value rose 13%, to $2.48 billion since our last valuation of basketball teams in February. For the first time there are three NBA teams worth over $5 billion dollars including the Knicks, the Golden State Warriors, No. 2, worth $5.6 billion and the Los Angeles Lakers, No. 3, valued at $5.5 billion.
The Brooklyn Nets ranked 7th on the list at $3.2 billion and the Boston Celtics were 5th at $3.55 billion.
