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New York Knicks extend reign as NBA's most valuable team – Forbes
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Miles McBride (R) talks to his New York Knicks teammates during the NBA Summer League at the Cox Pavilion in Las Vegas, U.S., August 16, 2021. /CFP

Miles McBride (R) talks to his New York Knicks teammates during the NBA Summer League at the Cox Pavilion in Las Vegas, U.S., August 16, 2021. /CFP

The New York Knicks are the NBA's most valuable team for a seventh consecutive year, according to the annual list published by Forbes on Monday.

The Knicks, who have just one playoff series victory since 2000 and last won an NBA title in 1973, are worth $5.8 billion, up 16 percent from a year ago, according to Forbes.

The Golden State Warriors ($5.6 billion), Los Angeles Lakers ($5.5 billion), Chicago Bulls ($3.6 billion) and Boston Celtics ($3.5 billion) rounded out the top five.

Kemba Walker #8 of the New York Knicks poses for portraits during NBA Media Day in New York, U.S., September 27, 2021. /CFP

Kemba Walker #8 of the New York Knicks poses for portraits during NBA Media Day in New York, U.S., September 27, 2021. /CFP

It marked the first time since Forbes began tracking the finances of NBA teams in 1998 that three franchises were worth $5 billion each.

Despite the COVID-19 pandemic that kept fans from attending games for most of the 2020-21 NBA season, the average team value rose 13 percent to $2.48 billion due to record sponsorship revenue and high expectations for the league's next media rights deal.

The reigning NBA champions Milwaukee Bucks were 17th on the list with a value of $1.9 billion, up 17 percent from last year.

Source(s): Reuters

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