NEW YORK (AP) -- The New York Knicks have surpassed the Los Angeles Lakers as the most valuable team in the NBA, according to Forbes' annual study.
Boosted by renovations to Madison Square Garden, the Knicks' value increased 41 percent to $1.1 billion. The Lakers were second at $1 billion.
The report released Wednesday estimated the average NBA team's value at $509 million, a 30 percent increase from last year.
The Chicago Bulls, Boston Celtics and Dallas Mavericks round out the top five.
The Milwaukee Bucks were the least valuable at $312 million. The Nets' value increased 48 percent to $530 million, ranking ninth, after their move from New Jersey to Brooklyn.
Thursday, May 23 2013 11:34 AM EDT2013-05-23 15:34:35 GMT
The Boston Bruins are on the brink of the Eastern Conference finals, and they got there on the backs of their suddenly offensive defensemen and a potent fourth line of forwards.
The Boston Bruins are on the brink of the Eastern Conference finals, and they got there on the backs of their suddenly offensive defensemen and a potent fourth line of forwards.
Daniel Paille snapped a tie with 3:31 left in the third period, and the Boston Bruins put the New York Rangers on the brink of elimination with a 2-1 victory in Game 3 of the Eastern Conference semifinal series on...
Daniel Paille snapped a tie with 3:31 left in the third period, and the Boston Bruins put the New York Rangers on the brink of elimination with a 2-1 victory in Game 3 of the Eastern Conference semifinal series on Tuesday...
Nate McLouth homered leading off the bottom of the 10th inning, Chris Dickerson hit a pair of solo shots and the Baltimore Orioles beat the New York Yankees 3-2 Tuesday night to snap a six-game losing streak.
Nate McLouth homered leading off the bottom of the 10th inning, Chris Dickerson hit a pair of solo shots and the Baltimore Orioles beat the New York Yankees 3-2 Tuesday night to snap a six-game losing streak.
Mike Leake pitched three-hit ball for seven sharp innings and the Cincinnati Reds parlayed star third baseman David Wright's early error Tuesday night into a 4-0 victory over the New York Mets.
Mike Leake pitched three-hit ball for seven sharp innings and the Cincinnati Reds parlayed star third baseman David Wright's early error Tuesday night into a 4-0 victory over the New York Mets.
Tuesday, May 21 2013 10:55 AM EDT2013-05-21 14:55:22 GMT
The New York Yankees are going into the soccer business.
The New York Yankees are going into the soccer business. The Yankees are partnering with Manchester City to own Major League Soccer's 20th team, which will be called New York City Football Club and plans to start play in the 2015 season.
Tuesday, May 21 2013 5:53 AM EDT2013-05-21 09:53:31 GMT
Jay Bruce hit a tiebreaking homer and drove in two runs to back Johnny Cueto's wild but effective return from the disabled list, and the Cincinnati Reds beat the New York Mets 4-3 Monday night.
Jay Bruce hit a tiebreaking homer and drove in two runs to back Johnny Cueto's wild but effective return from the disabled list, and the Cincinnati Reds beat the New York Mets 4-3 Monday night.
