Lowly Knicks still most valuable National Basketball Association team

Stephen Curry #30 of the Golden State Warriors drives against Le Bron James #23 of the Los Angeles Lakers

The Warriors' new arena, the Chase Center, is the centerpiece of the team's empire, securing $2 billion in income before it even opened its doors last September.

The New York Knicks, the team with the worst record in the National Basketball Association last year, took the number one place at the Forbes list for the fifth season in a row having a value of $4.6 billion, a 15percent jump from this past year.

The Los Angeles Lakers were valued at $4.4 billion, while the Golden State Warriors were listed at $4.3 billion.

Nonetheless, the Celtics may leapfrog Chicago in team value next season, especially if the latter continues to miss the playoffs.

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. Then again, being in a media market as huge as New York City can help with this regard, even when the team is in a lengthy spell of misfortune.

According to Forbes' evaluations, the Raptors made $334 million in revenue last season (fifth most in the league behind the Knicks, Warriors, Lakers, and Rockets), up from $275 million the season prior.

Major League Baseball has just one team in the $4 billion club.

'I am not selling, but I am determined to find the right leader for the Knicks who will ensure the long-term success of the team, ' Dolan said in a statement. 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.

Alibaba co-founder Joseph Tsai bought the Brooklyn Nets and their home arena for $3.3 billion and Michael Jordan sold a 20% stake in the Charlotte Hornets, who were valued in the deal at $1.5 billion.



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