The New York Knicks might still suck this season and have seemingly mastered the art of tanking, but don?t tell that to team owner James Dolan. The latest bottom line report is what truly matters and what probably helps him sleep quite comfortably at night.
Dolan, the executive chairman of the Madison Square Garden Company, can laugh all the way to the bank if he wants to because Forbes just named the Knicks the most valuable NBA team for the fourth-straight year.
So how much are the Knicks worth? A whopping $4 billion, which is tied with the New York Yankees as the second-most valuable franchise in U.S. sports after the NFL?s Dallas Cowboys, which is worth $5 billion.
At $4 billion, the value of the New York Knicks has increased 11 percent from last year, thanks to $1 billion in renovations at Madison Square Garden in 2013. With that price tag, you could buy every single person in New York City a new Knicks hoodie to wear for each day of the week.
But although the Knicks are the kings of value in the league, the rest of the NBA franchises certainly aren?t too far behind. After all, the average NBA franchise value $1.9 billion, which is just insane to think about.
The least valuable teams are the Memphis Grizzlies, New Orleans Pelicans, and Charlotte Hornets.
Here are some notable figures from the Forbes report:
Best NBA Team Values
New York Knicks ($4 Billion)
Los Angeles Lakers ($3.7 Billion)
Golden State Warriors ($3.5 Billion)
Chicago Bulls ($2.9 Billion)
Boston Celtics ($2.8 Billion)
Brooklyn Nets ($2.3 Billion)
Houston Rockets ($2.2 Billion)
Los Angeles Clippers ($2.25 Billion)
Dallas Mavericks ($1.9 Billion)
Miami Heat ($1.7 Billion)
Biggest 5-Year Value Gains
Golden State Warriors (367 Percent)
Los Angeles Clippers (282 Percent)
Philadelphia 76ers (252 Percent)
Milwaukee Bucks (233 Percent)
Toronto Raptors (222 Percent)
Utah Jazz ($101)
Cleveland Cavaliers ($93)
Oklahoma City Thunder ($88)
Chicago Bulls ($20)
Brooklyn Nets ($19)
Atlanta Hawks ($16)
Debt as a Percentage of Value
Sacramento Kings (34 Percent)
Milwaukee Bucks (32 Percent)
Memphis Grizzlies (27 Percent)
Miami Heat (23 Percent)
Golden State Warriors (23 Percent)