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.