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NBA: Knicks top Forbes list of most valuable NBA teams

Published on Jan 23, 2014 6:12 AM
 
New York Knicks forward center Andrea Bargnani (77), guard forward Iman Shumpert (21), and guard Tim Hardaway Jr. look around after coach Mike Woodson (not shown) is called on a technical foul during the second half of the game at Time Warner Cable Arena. The New York Knicks remained the NBA's most valuable team, worth over US$1 billion (S$1.28 billion), according to a Forbes poll on Wednesday that showed the average team value rose 25 per cent from last year. -- FILE PHOTO: REUTERS

(REUTERS) - The New York Knicks remained the NBA's most valuable team, worth over US$1 billion (S$1.28 billion), according to a Forbes poll on Wednesday that showed the average team value rose 25 per cent from last year. 

The average NBA team's value rose to US$634 million, a jump Forbes said was driven by cost controls from the collective bargaining agreement and the much-anticipated next round of television contracts.

The Knicks were valued at US$1.4 billion, a 27 per cent rise from last year, due to a renovation to their home arena and qualifying for last season's playoffs.

The Los Angeles Lakers, who topped the list two years ago, remained second with a value of US$1.35 billion, up 35 per cent from last year.

 
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