NBA: Knicks top Forbes list of most valuable NBA teams
Published on Jan 23, 2014 6:12 AM
(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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