Today, Forbes has updated their annual NBA franchise evaluations. The New York Knicks are now the NBA’s most valuable franchise, coming in at a valuation of $1.1 billion – a 41% increase from last year. To put that in perspective, the average NBA team is worth $509 million.
The Knicks had a revenue of $243 million and an operating income of $83.2 million, which is leaps and bounds above the rest of the field, as the Lakers come in at second with an operating income of $47.8 million.
Forbes breaks down the valuation into four parts: Sport, Market, Stadium and Brand. The sport is worth $185 million, market is worth $477 million, stadium worth $310 million and the brand is worth $134 million. The 41% year-over-year change in overall valuation is mostly due to the renovation at Madison Square Garden, as well as a drop in overall player salary, as the portion of the BRI (basketball related income) that the players received dropped from around 57% to closer to 50% after this past lockout.