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The average NBA team's value rose to $1.25 billion from $1.1
billion last year, a jump Forbes said was driven primarily by
media and sponsorship deals that are typically being renewed at
double or even quadruple the previous amounts.
The Knicks' value rose 20 percent from last year given a new
cable deal and having the highest premium-seating revenue in the
NBA while the Lakers, who topped the list last year, were second
with a value of $2.7 billion, up 4 percent from last year.
The Chicago Bulls ($2.3 billion), Boston Celtics ($2.1 billion)
and Los Angeles Clippers ($2 billion) rounded out the top five.
The reigning NBA champion Golden State Warriors were ranked
sixth out of the league's 30 teams with a 46 percent jump in
value to $1.9 billion due largely to a new arena scheduled to
open for the 2018-19 National Basketball Association season.
(Reporting by Frank Pingue in Toronto. Editing by Steve
Keating.)
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