Knicks, Lakers NBA's first billion dollar teams

FRANK PINGUE
Last updated 07:35 24/01/2013
Carmelo Anthony
Getty Images
STAR OF THE SHOW: Carmelo Anthony now plays for the NBA's most valuable team.

Relevant offers

Basketball

Steven Adams and the kid – inspiring story of an NBA giant's help Small basketballer, big skills Ethan Rusbatch, Derone Raukawa handed Breakers 'D-Unit' chance NBA star Steven Adams on watching sister Valerie in Rio: 'It got emotional' Thunderous intentions as Steven Adams passes down meaning of hoops to Kiwi kids Recap: Steven Adams press conference in Auckland Kiwi NBA star Steven Adams joined by two Oklahoma City Thunder team-mates for basketball camps Rio Olympics: US men's basketball team romp to gold with 96-66 win in the final US routs aging Argentina to restore mojo ahead of Olympic semifinals Steven Adams confident OKC Thunder can come together without Kevin Durant

The New York Knicks are the NBA's most valuable team, worth over $1 billion, according to a Forbes poll that showed the average team value rose 30 per cent over the last year.

The average NBA team's value is now $509 million, a rise Forbes said was driven by higher television revenue, new and renovated arenas and the league's new collective bargaining agreement.

The Knicks reclaimed top spot in the annual poll from the Los Angeles Lakers with a value of $1.1 billion, a 41 per cent jump from last year, due mainly to a $980 million renovation of Madison Square Garden that will be completed later this year.

The Lakers, who had the league's highest payroll last season that triggered a $12.6 million luxury tax bill, were second with a value of $1 billion, up 11 per cent from last year.

The Knicks and Lakers are the first NBA teams to be valued at $1 billion or above.

Rounding out the top five were the Chicago Bulls ($800 million), Boston Celtics ($730 million) and Dallas Mavericks ($685 million).

The value of the reigning NBA champion Miami Heat rose 37 per cent to $625 million, putting them sixth among the league's 30 teams.

Ad Feedback

- Reuters

Special offers
Opinion poll

How do you expect the Breakers to perform in this season's Australian NBL?

Last season was a blip, they'll be champions once again

They'll go close to another title, beaten finalists I'd say

Playoffs for sure, but can't see them going any further

Not too excited, they'll miss the playoffs again

Vote Result

Related story: (See story)

Featured Promotions

Sponsored Content