Report: Knicks most valuable NBA franchise

Dec 4, 2008 - 1:22 AM LOS ANGELES (Ticker) -- The New York Knicks made a rare appearance at the top of the heap, according to a report in Forbes Magazine on Wednesday.

Forbes reported that the Knicks are the most valuable franchise in the NBA - worth approximately $613 million.

New York edged the Los Angeles Lakers - another of the league's flagship franchises - who are worth $584 million, according to the report.

One of the NBA's laughingstock franchises in recent years, the Knicks have not won a playoff game since 2001 but are aiming to climb back to prominence under new coach Mike D'Antoni and general manager Donnie Walsh.

However, their lack of success on the court apparently has not hurt them financially.

The Chicago Bulls ($504 million), Detroit Pistons ($480 million), Cleveland Cavaliers ($477 million), Houston Rockets ($469 million), Dallas Mavericks ($466 million), Phoenix Suns ($452 million), Boston Celtics ($447 million) and San Antonio Spurs ($415 million) round out the top 10.

According to Forbes, only one of the aforementioned clubs are not making a profit - Mark Cuban's Mavericks.