Knicks Most Valuable Team Out There Right Now

Posted: Feb. 4th, 2013  |  By Michael Pearse
New York Knicks

The New York Knicks Franchise has been listed at the top of Forbes most valuable franchise List. As a result of the renovation of The Madison Square garden the teams listing improved a stunning 41% form this time last year. Last year they where valued at $787 million while this year they are at $1.1 billion.

The Knicks have zoomed past the Lakers as the NBA’s most valuable franchise, according to Forbes.

The magazine’s annual report ranking all NBA teams cited the ongoing renovation of Madison Square Garden and improved television ratings and merchandise sales as reasons for a 41% increase in the Knicks’ valuation from this time last year — from $780 million to $1.1 billion.
The Lakers rank second in value at $1 billion, while the Nets’ move to Brooklyn pushed them to ninth in the rankings at $530 million, up 48% from 2012.

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Carolyn Hsu
Carolyn Hsu is the New York Correspondent for JustLuxe and has been beauty, fashion, and travel editor at The Daily Obsession and a freelance writer... Luxury NEWS >