Thursday , Dec , 10 , 2009 C.Y. Ellis

LA Lakers Now Worth More Money than New York Knicks


The Los Angeles Lakers are the NBA’s most valuable team, and 12 franchises lost money in the 2008-09 season, according to Forbes magazine.

In its annual listing of the value of NBA franchises, Forbes finds Lakers to be worth $607 million, up 4 percent for the league champions. Second are the New York Knicks at $586 million, but that is a 4 percent drop. The Knicks led the rankings for the four previous seasons.

The Chicago Bulls ($511 million), Detroit Pistons ($479 million) and Cleveland Cavaliers ($476 million) round out the top five.

At the bottom of the 30-team rankings are the Milwaukee Bucks at $254 million. The league average worth is $367 million, down 4 percent, according to Forbes.

http://sports.espn.go.com/nba/news/story?id=4729043