Forbes lists New York Knicks as highest-valued NBA franchise

Feb. 11 (UPI) -- The New York Knicks were valued at $4.6 billion by Forbes, making them the most valuable NBA franchise for the fifth consecutive year.

Forbes released its list of the most valuable NBA teams Tuesday, listing the average value of NBA franchises above $2 billion for the first time. The average team is now valued at about $2.1 billion, a figure that has grown almost 600 percent in the last decade.

The Los Angeles Lakers were valued at $4.4 billion, while the Golden State Warriors were listed at $4.3 billion. According to Forbes, the Warriors had a 23 percent year-to-year leap in value, trailing only the Toronto Raptors (25 percent) for the largest one-year jump in 2019.

Only five NBA teams were listed with a valuation below $1.5 billion: the Detroit Pistons ($1.45 billion), Orlando Magic ($1.43 billion), Minnesota Timberwolves ($1.375 billion), New Orleans Pelicans ($1.35 billion) and Memphis Grizzlies ($1.3 billion).

Forbes also determined the 30 NBA franchises generated a record $8.8 billion in revenue last season, an increase of 10 percent from the previous year. According to the publication, that figure is expected to rise again this season and exceed $9 billion.

Top 10 most valuable NBA franchises:

1. New York Knicks ($4.6 billion)

2. Los Angeles Lakers ($4.4 billion)

3. Golden State Warriors ($4.3 billion)

4. Chicago Bulls ($3.2 billion)

5. Boston Celtics ($3.1 billion)

6. Los Angeles Clippers ($2.6 billion)

7. Brooklyn Nets ($2.5 billion)

8. Houston Rockets ($2.475 billion)

9. Dallas Mavericks ($2.4 billion)

10. Toronto Raptors ($2.1 billion)