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New York Knicks top Forbes' list of most valuable NBA franchises

New York Knicks top Forbes' list of most valuable NBA franchises

The New York Knicks are the NBA's most valuable franchise despite nearly $40 million (euro31 million) in operating losses last season, according to a list compiled by Forbes.
The Knicks topped the list for the second straight year with a value of $592 million (euro456 million), up 9 percent from the previous year. They had an NBA-high $185 million (euro143 million) in revenues for the 2005-06 season, but also topped the league with losses of $39 million (euro30 million).
New York had a payroll of more than $120 million (euro93 million), easily the NBA's largest, while going just 23-59 last season. The Knicks paid coach Larry Brown about $10 million (euro7.7 million) for that season, then paid him another $18.5 million (euro14 million) in a settlement after firing him with four years remaining on his contract.
Though Madison Square Garden chairman James Dolan said earlier this season that "it's never OK to lose business," he pointed out that the Knicks represented only about 3 percent of the total business of parent company Cablevision.
The Los Angeles Lakers were second at $568 million (euro438 million), while the Dallas Mavericks had a 15 percent jump after their first NBA finals appearance and were third at $463 million (euro357 million). Chicago ($461 million, euro355 million) and Houston ($439 million, euro338 million) rounded out the top five.
The complete Forbes list will be appear in its Feb. 12 issue.


Updated : 2021-05-13 09:29 GMT+08:00