Forbes lists Knicks as most valuable NBA franchise

New York, February 7: The New York Knicks have the worst record in the NBA, but they are the league's most valuable franchise, according to Forbes.

Forbes' annual list was released on Wednesday (February 6) and valued the Knicks at $4billion - more than any rival team. The Los Angeles Lakers came in second with a net work of $3.7billion.

Rounding out the top five were the Golden State Warriors ($3.5billion), the Chicago Bulls ($2.9billion) and the Boston Celtics ($2.8billion).

Forbes cited the Knicks' $1billion in renovations to Madison Square Garden that was completed in 2013 as a huge source of revenue for the team. According to the report, that helped the Knicks' value jump 11 per cent from the previous year's assessment.

In comparison, the Lakers' net worth jumped up 12 per cent.

Interest in the Knicks (10-43 this season) could jump again after they traded injured star Kristaps Porzingis with Tim Hardaway Jr and Courtney Lee to the Dallas Mavericks in a huge trade last week that brought Dennis Smith Jr, DeAndre Jordan and Wesley Matthews to New York.

It has been suggested that the move positions the Knicks to acquire not one but two big-ticket free agents this offseason, with Kevin Durant and Kyrie Irving among those potentially available.

According to Forbes' report on Wednesday, the average NBA team is worth $1.9billion, up 13 per cent from last year.