Lowly Knicks still rule Forbes' list at $4B

The New York Knicks have the NBA's worst record, but Forbes says the franchise remains the league's most valuable for the fourth consecutive year at $4 billion. The Los Angeles Lakers ($3.7 billion), Golden State Warriors ($3.5 billion), Chicago Bulls ($2.9 billion) and Boston Celtics ($2.8 billion) round out the top five in the annual rankings released Wednesday.

According to Forbes, the average NBA team is worth $1.9 billion, a 13 percent increase from last year. The Knicks boosted their value by 11 percent since 2018, despite spiraling toward their sixth consecutive season without a playoff berth. Forbes said the franchise is still reaping the rewards of a $1 billion renovation to Madison Square Garden that was completed in 2013.

The Knicks are tied with the New York Yankees as the second-most-valuable U.S. sports franchise behind the Dallas Cowboys, worth an estimated $5 billion. The Philadelphia 76ers had the NBA's biggest increase in value for the second straight year, up 40 percent to $1.65 billion.

The Memphis Grizzlies were the least-valuable franchise at $1.2 billion. --Field Level Media