The city doesn't sleep, and neither do we.
The New York Knicks are now the second most valuable NBA franchise after being taken over by the Los Angeles Lakers (via Forbes). The Knicks are worth $780 million, a 19 percent increase from last year. Part of that increase is due to Knicks season tickets selling out for the first time since 2001-2002. Those tickets were also more costly as the team raised prices to pay for the renovation of MSG.
The reason why the Lakers (worth $900 million) were able to increase 40 percent in value from last year and pass the Knicks was their signing of a $200 million per year TV deal with Time Warner Cable. The Knicks did show the most profit of any NBA franchise with an operating income of $75 million.
The average NBA team is now worth a record $393 million. The Milwaukee Bucks were the least valuable franchise at $268 million.
For more coverage of the Knicks, visit our team page or our blog Posting And Toasting.
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Edited by Ed Valentine
Ed is founder and editor of Big Blue View, SB Nation's New York Giants website. Ed loves the Yankees, but in all honesty could care less about the Knicks. E-mail Ed at edward.valentine@gmail.com. See my profile
