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Knicks retain top spot as Forbes' most valuable NBA team
JAY GORY, MANAGING EDITOR, sports
The New York Knicks are the NBA's most valuable team for the second consecutive year despite having been shut out of the playoffs since 2013, according to a Forbes poll released on Wednesday that showed the average team value rose 9 percent. The Knicks' value rose to $3.3 billion, up 10 percent from last year, as they continue reaping the rewards of a $1 billion renovation to Madison Square Garden, which produced new revenue opportunities from sponsorships and seating. According to Forbes, the Knicks also posted an NBA-record operating profit of $141 million last season, despite a 32-50 season record. read more
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