January 5, 2013; Orlando FL, USA; New York Knicks small forward Carmelo Anthony (7) fixes his headband against the Orlando Magic during the second half at Amway Center. New York Knicks defeated the Orlando Magic 114-106. Mandatory Credit: Kim Klement-USA TODAY Sports

New York Knicks NBA's Most Valuable Team

The New York Knicks may be mired in a slump when it comes to wins and losses, but they certainly aren’t in one when it comes to franchise value.

Jan 11, 2013; New York, NY, USA; New York Knicks center Tyson Chandler (6) shoots a free throw during the fourth quarter against the Chicago Bulls at Madison Square Garden. Chicago won 108-101. Mandatory Credit: Anthony Gruppuso-USA TODAY Sports

According to Forbes Magazine, the Knicks are the NBA’s most valuable team. The magazine’s most recent franchise valuations say the team is worth $1.1 billion. The Knicks surpassed the Los Angeles Lakers ($1 billion) as the NBA’s most valuable franchise. They also saw a whopping 41 percent increase from last time Forbes released franchise values last year.

So much for the Knicks losing value after allowing Jeremy Lin to sign with the Houston Rockets, as many predicted they would.

Forbes credits the rapid increase in value to the ongoing renovation of Madison Square Garden, an increase in television ratings and merchandising sales, and the team’s on-court success. They also estimate that the $980 million renovation of Madison Square Garden has helped produce $243 million in revenue for the Knicks, the highest profit in the NBA.

They also report that ratings for Knicks games were up 74 percent compared to the same period last season. As far as merchandise, the Knicks jersey was the top-selling jersey in the league from April 2012 through Nov. 26, 2012.

The Knicks ranked second in the NBA in terms of value last year, behind the Lakers. They were worth $780 million, according to Forbes.

According to Forbes, the average NBA team is worth $509 million, a 30 percent increase from last season.

Here is the complete list according to Forbes.

  1. New York Knicks: $1.1 billion
  2. Los Angeles Lakers: $1 billion
  3. Chicago Bulls: $800MM
  4. Boston Celtics: $730MM
  5. Dallas Mavericks: $685MM
  6. Miami Heat: $625MM
  7. Houston Rockets: $568MM
  8. Golden State Warriors: $555MM
  9. Brooklyn Nets: $530MM
  10. San Antonio Spurs: $527MM
  11. Sacramento Kings: $525MM
  12. Oklahoma City Thunder: $475MM
  13. Phoenix Suns: $474MM
  14. Orlando Magic: $470MM
  15. Portland Trail Blazers: $457MM
  16. Cleveland Cavaliers: $434MM
  17. Utah Jazz: $432MM
  18. Los Angeles Clippers: $430MM
  19. Denver Nuggets: $427MM
  20. Philadelphia 76ers: $418MM
  21. Toronto Raptors: $405MM
  22. Detroit Pistons: $400MM
  23. Washington Wizards: $397MM
  24. Indiana Pacers: $383MM
  25. Memphis Grizzlies: $377MM
  26. Minnesota Timberwolves: $364MM
  27. New Orleans Hornets: $340MM
  28. Atlanta Hawks: $316MM
  29. Charlotte Bobcats: $315MM
  30. Milwaukee Bucks: $312MM

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