Still most valuable NBA team
by Alan Hahn , Newsday
CLEVELAND - Hey LeBron, guess which is the most valuable franchise in the NBA?
As the Knicks await the opportunity to lure LeBron James in 2010, they may not be able to boast a successful track record on the court in recent seasons, but they can at least boast a fourth straight year atop Forbes' list as the NBA's most valuable franchise. Forbes' latest rankings, which were released yesterday, value the Knicks at $613 million, which is a 1-percent increase from 2007. All this despite having yet another losing season, removing Isiah Thomas as president and coach and, of course, the ongoing Stephon Marbury saga. The Knicks are owned by Cablevision, which also owns Newsday.
The Los Angeles Lakers ($584 million) ranked second, followed by the Chicago Bulls ($504 million), Detroit Pistons ($480 million) and LeBron's current team, the Cleveland Cavaliers ($477 million).
Another New York-area team looking to make a run at James, the Nets ($295 million), had the biggest drop in value during the past season, with a 13-percent decrease. They are ranked 26th among the 30 NBA teams.
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