Logo of Phnom Penh Post newspaper Phnom Penh Post - Knicks, Lakers most valuable NBA clubs: Forbes




Knicks, Lakers most valuable NBA clubs: Forbes

Knicks, Lakers most valuable NBA clubs: Forbes

The New York Knicks and Los Angeles Lakers still top the list of most valuable NBA clubs, according to a survey released on 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 $1.65 billion.

The Knicks remain atop that list, worth $3.6 billion and another iconic club, the Lakers, are now worth an estimated $3.3 billion.

The Knicks are profiting from a $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 $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 $3.1 billion to Chicago’s $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 $1 billion.

The club making the biggest jump from last year was the Philadelphia 76ers, who gained 48 percent in value to $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.

MOST VIEWED

  • Seven positive for Covid-19, Hun Sen confirms local transmission

    Prime Minister Hun Sen announced that there has been local community transmission of Covid-19. However, he urged the people not to panic even though the Ministry of Health announced the discovery of seven new cases on Sunday. Among the victims are Chhem Savuth, the director-general

  • Cambodia at ‘most critical moment’, Hun Sen warns

    Prime Minister Hun Sen said the first community transmission of Covid-19 in Cambodia has led the country to the “most critical moment” that warranted urgent, large-scale operations to contain the pandemic. Hun Sen, who confirmed the first local transmission on November 28, said the source of

  • PM confirms community transmission, calls for unity

    Prime Minister Hun Sen has called on the public to stay calm, unite and follow the Ministry of Health guidelines after the wife of a senior official tested positive for Covid-19 in the Kingdom’s first case of community transmission. The case has drawn criticism

  • Over 110 garment factories close

    A government official said on November 22 that at least 110 garment factories had closed in the first nine months of the year and left more than 55,000 workers without jobs – but union leaders worry those numbers could be much higher. Ministry of Labour and Vocational Training undersecretary

  • Singapore group seeks $14M in damages from PPSP over ‘breach of contract’

    Singapore-based Asiatic Group (Holdings) Ltd is seeking a minimum of $14.4 million relief from Cambodia Securities Exchange (CSX)-listed Phnom Penh Special Economic Zone Plc (PPSP) for allegedly breaching a power plant joint venture (JV) agreement. Asiatic Group’s wholly-owned Colben System Pte Ltd and 95 per

  • PM vows to protect Hun family

    Prime Minister Hun Sen has vowed to continue his fight against opposition politicians who he said intend to smash the Hun family. Without naming the politicians but apparently referring to former leaders of the Supreme Court-dissolved Cambodia National Rescue Party (CNRP), Hun Sen said there