NBA

Knicks are NBA's most valuable team

Image: Tyson Chandler, Amar'e Stoudemire, Carmelo Anthony & Jason Kid of the New York Knicks (© Paul Cunningham/USA TODAY Sports)
The Knicks are worth $1.1 billion, according to Forbes' annual study.
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Updated Jan 23, 2013 2:24 PM ET
     
 

NEW YORK (AP)

The New York Knicks have surpassed the Los Angeles Lakers as the most valuable team in the NBA, according to Forbes' annual study.

knicks

NEW YORK'S FINEST

Walt Frazier, not Patrick Ewing, heads our list of top five Knicks.

Boosted by renovations to Madison Square Garden, the Knicks' value increased 41 percent to $1.1 billion. The Lakers were second at $1 billion.

The report released Wednesday estimated the average NBA team's value at $509 million, a 30 percent increase from last year.

The Chicago Bulls, Boston Celtics and Dallas Mavericks round out the top five.

The Milwaukee Bucks were the least valuable at $312 million. The Nets' value increased 48 percent to $530 million, ranking ninth, after their move from New Jersey to Brooklyn.

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