LOS ANGELES, United States, Feb 8 – The New York Knicks and Los Angeles Lakers still top the list of most valuable NBA clubs, according to a survey released Wednesday by Forbes — which for the first time says every franchise is worth $1 billion.
According to its latest annual assessment, the average value of an NBA club is Sh167bn ($1.65 billion).
The Knicks remain atop that list, worth Sh364bn ($3.6 billion) and another iconic club, the Lakers, are now worth an estimated Sh330bn ($3.3 billion).
The Knicks are profiting from a Sh100bn ($1 billion) renovation to Madison Square Garden, which provided new revenue oppotunities from sponsorships and seating.
The Lakers, who like the Knicks have struggled in recent years, continue to benefit from raking in almost Sh15.2bn ($150 million) a year from their local television and radio deals.
The reigning champion Golden State Warriors passed the Chicago Bulls in this year’s list to lie third with a value of Sh311bn ($3.1 billion) to Chicago’s Sh260bn ($2.6 billion).
The Warriors’ jump is due in part to the new arena due to open in two seasons.
New arenas in Sacramento, Milwaukee and Detroit have also pushed up franchise values.
The New Orleans Pelicans are the lowest-ranked, at an estimated value of Sh100bn ($1 billion).
The club making the biggest jump from last year was the Philadelphia 76ers, who gained 48 percent in value to Sh118bn ($1.18 billion), according to Forbes’ calculations.
The valuations were calculated with revenues and operating incomes from the 2016-17 season, while taking into consideration the league’s revenue sharing. Arena deals, and revenue from non-basketball events that take place at the venues, are also included in the totals.