Forbes lists New York Knicks as highest-valued National Basketball Association franchise

Forbes lists New York Knicks as highest-valued National Basketball Association franchise

The positive financial report comes on the heels of a brutal offseason that saw the NBA's controversy in China amount to an worldwide incident and lead into ratings drops as more of the league's stars flocked to the West Coast and late-night tips. The magazine lists the average value at $2.12 billion.

'We are actively looking for a new president of the New York Knicks and hope to conclude the search as quickly as possible, ' Dolan said in a statement.

The rise in valuations comes months after the season began in controversy when Houston Rockets General Manager Daryl Morey tweeted his support for Hong Kong's pro-democracy demonstrators in a since-deleted post that included an image captioned: 'Fight For Freedom.

Forbes said the revenue of the 30 National Basketball Association teams was a combined $8.8 billion, a league record, and should top $9 billion this season. 'It has hit a couple of bumps, but it is still very powerful media content and the greatest global sport after soccer'. Only NFL franchise Dallas Cowboys ($5.5 billion) are worth more than the Knicks among the sports franchises in North America.

Knicks fans may feel like they have something to brag about. "The Celtics had no problem selling those extra seats thanks to a waiting list for season tickets despite prices that rank among the top echelon of teams", writes Forbes. Interim coach Mike Miller, who replaced the fired David Fizdale, could be brought back, but the team is reportedly searching for another replacement. The five aforementioned teams are the only teams in the league with a value of at least $3 billion, with Boston having raised its value by 11 percent since 2019, the second-lowest single-year change percent of the top-five. That represented the biggest gain in value in the league.



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