The Laughable Knicks Are Still The Most Valuable Franchise In The NBA With The Lakers A Close Second
Once again, the New York Knicks have been revealed as the most valuable NBA franchise with a total value of $4.6 BILLION, just a few (hundred) million ahead of the Los Angeles Lakers in the #2 spot and the Golden State Warriors in the #3 spot. These three teams are each worth more than $1 billion more than the #4 team.
The New York Knicks have only won 17 games this season. They’ve lost 37 games for a truly horrendous and pathetic .315% win percentage. The fans are openly booing the owner James Dolan ($1.5B net worth) and calling for him to sell the team. The Knicks are so damn cheap they’re awarding fans in scratch-off lottery tickets for hitting half-court shots….But they’re still the most valuable team in the NBA
The Knicks’ value is up 15% from 2019, according to the newly-released annual report from Forbes which outlines each NBA franchise’s value. The Knicks are worth more than three times the Memphis Grizzlies or the New Orleans Pelicans despite being unable to put together a winning team.
Overall, the value of NBA franchises are up 14% from last year and the 30 NBA teams generated an absurd $8.8 BILLION in revenue last year which was up 10% from the prior year. While NFL franchises are KING in America, the value of NFL franchises only went up 11% compared to the NBA’s 14%. And MLB franchises only rose 8% in value.
Here is a look at the most valuable NBA franchises of 2020 (via Forbes):
1. New York Knicks – $4.6 Billion
2. Los Angeles Lakers – $4.4 Billion
3. Golden State Warriors – $4.3 Billion
4. Chicago Bulls – $3.2 Billion
5. Boston Celtics – $3.1 BIllion
6. Los Angeles Clippers – $2.6 Billion
7. Brooklyn Nets – $2.5 Billion
8. Houston Rockets – $2.475 Billion
9. Dallas Mavericks – $2.4 Billion
10. Toronto Raptors – $2.1 Billion
11. Philadelphia 76ers – $2 Billion
12. Miami Heat – $1.95 Billion
13. Portland Trail Blazers – $1.85 Billion
14. San Antonio Spurs – $1.8 Billion
15. Sacramento Kings – $1.775 Billion
16. Washington Wizards – $1.75 Billion
17. Phoenix Suns – $1.625 Billion
18. Denver Nuggets – $1.6 Billion
19. Milwaukee Bucks – $1.58 Billion
20. Oklahoma City Thunder – $1.575 Billion
21. Utah Jazz – $1.55 Billion
22. Indiana Pacers – $1.525 Billion
23. Atlanta Hawks – $1.52 Billion
24. Cleveland Cavaliers – $1.51 Billion
25. Charlotte Hornets – $1.5 Billion
26. Detroit Pistons – $1.45 Billion
27. Orlando Magic – $1.43 Billion
28. Minnesota Timberwolves – $1.375 Billion
29. New Orleans Pelicans – $1.35 Billion
30. Memphis Grizzlies – $1.3 Billion
There is A LOT that goes into the Knicks remaining the most valuable team in the NBA. These numbers are from a Business Insider video that explains the Knicks’ 2019 valuation so they’ve probably gone up roughly 14% based on the team’s value going up that amount. So don’t get caught in the specifics here but this is a helpful explainer on who they remain so fucking valuable despite having six losing seasons in a row:
“It all hinges around Madison Square Garden, the world’s greatest arena. The arena alone is valued at $828 million and makes up 23% of the Knicks’ value. The $1 billion renovations in 2013 brought in the Chase bridges which wrap around the sides of the arena, Tao Group offers luxury party options, there are some INCREDIBLE luxury boxes on the floor, and this caused a 9% increase in value.”
Another key to the Knicks’ off-court success is the organization’s fixed revenues.
Berri: “Fixed revenues are revenues not linked to wins. Fixed revenues in sports have gotten bigger, and bigger, and bigger over time. So a fixed revenue is your national broadcasting deal. It’s not related to wins.”
Narrator: The NBA is currently in the midst of a nine-year, $24 billion national TV contract. The deal pays the NBA about $2.6 billion per year, which equals about $88.9 million per team. The payout is three times higher than the value of the NBA’s previous one and that influx of cash caused the league’s salary cap to jump. The cap jumped from $63 million to $94 million in two seasons and players’ salaries rose along with it.
One owner told ESPN, quote, “National revenues drive up the cap, but local revenues are needed to keep up with player salaries. If a team can’t generate enough local revenues, they lose money,” unquote. (via)
I just cannot foresee a world where New York Knicks owner James Dolan sells the team when it is the most valuable franchise in the NBA. It would take the NBA brass stepping in to force him out at this point. He’ll continue to kick anyone he wants out of Madison Square Garden anytime he feels like it because he can. Nobody’s stopping him from ruining those fan’s lives with six losing seasons in a row. The city of New York deserves better.
You can see this year’s complete Forbes list by clicking here.