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.
Sunday, May 19 2013 7:06 PM EDT2013-05-19 23:06:52 GMT
Johnny Boychuk broke a tie midway through the second period, and the Boston Bruins scored two goals in the third to beat the New York Rangers 5-2 on Sunday
Johnny Boychuk broke a tie midway through the second period, and the Boston Bruins scored two goals in the third to beat the New York Rangers 5-2 on Sunday
Saturday, May 18 2013 11:37 PM EDT2013-05-19 03:37:47 GMT
Lance Stephenson scored nine of his playoff career-high 23 points during a late 11-2 run Saturday night, leading the Indiana Pacers past the New York Knicks, 106-99 and into the Eastern Conference finals
Lance Stephenson scored nine of his playoff career-high 23 points during a late 11-2 run Saturday night, leading the Indiana Pacers past the New York Knicks, 106-99 and into the Eastern Conference finals
Saturday, May 18 2013 9:43 PM EDT2013-05-19 01:43:03 GMT
RICHARD ROSENBLATT, AP Sports Writer BALTIMORE (AP) — Right from the start, a horse trained by one not so over-the-hill Hall of Famer and ridden by another took control of the Preakness. The result:
RICHARD ROSENBLATT, AP Sports Writer BALTIMORE (AP) — Right from the start, a horse trained by one not so over-the-hill Hall of Famer and ridden by another took control of the Preakness. The result:
Saturday, May 18 2013 5:55 PM EDT2013-05-18 21:55:54 GMT
Robinson Cano hit a pair of two-run homers to back a solid effort by David Phelps, and New York beat the Toronto Blue Jays for the ninth straight time at Yankee Stadium, 7-2 Saturday.
Robinson Cano hit a pair of two-run homers to back a solid effort by David Phelps, and New York beat the Toronto Blue Jays for the ninth straight time at Yankee Stadium, 7-2 Saturday.
By DOUG FERGUSON AP Golf Writer Former U.S. Open champion Ken Venturi has died just 12 days after he was inducted into the World Golf Hall of Fame. He was 82.
By DOUG FERGUSON AP Golf Writer Ken Venturi, who overcame dehydration to win the 1964 U.S. Open and spent 35 years in the booth for CBS Sports, died Friday afternoon. He was 82.
Hiroki Kuroda pitched two-hit ball for eight dominant innings and the New York Yankees again beat Mark Buehrle and the Toronto Blue Jays, 5-0 on Friday night.
Hiroki Kuroda pitched two-hit ball for eight dominant innings and the New York Yankees again beat Mark Buehrle and the Toronto Blue Jays, 5-0 on Friday night.
Friday, May 17 2013 8:53 PM EDT2013-05-18 00:53:52 GMT
The New Jersey Sports and Exposition Authority has approved the master plan for the American Dream megamall in the Meadowlands sports complex. The approval at Friday's special board meeting means the
The New Jersey Sports and Exposition Authority has approved the master plan for the American Dream megamall in the Meadowlands sports complex. The approval at Friday's special board meeting means the
Friday, May 17 2013 5:54 PM EDT2013-05-17 21:54:45 GMT
The big game will be played in New Jersey but the big party will be in New York City. Organizers call it "Super Bowl Boulevard."
The big game will be played in New Jersey but the big party will be in New York City. Organizers call it "Super Bowl Boulevard": it will stretch from 44th Street on Broadway all the way to 34th Street.
Monday, May 20 2013 6:03 AM EDT2013-05-20 10:03:42 GMT
Metro-North is urging commuters in Connecticut to make alternate plans starting on Monday. Train service on much of the New Haven line remains suspended after Friday's train derailment
Metro-North is urging commuters in Connecticut to make alternate plans starting on Monday. Train service on much of the New Haven line remains suspended after Friday's train derailment
Monday, May 20 2013 5:58 AM EDT2013-05-20 09:58:10 GMT
The Connecticut Department of Transportation and Metro-North Railroad released the following information regarding service on the New Haven commuter rail line
The Connecticut Department of Transportation and Metro-North Railroad released the following information regarding service on the New Haven commuter rail line
Sunday, May 19 2013 10:57 PM EDT2013-05-20 02:57:40 GMT
The federal judge presiding over civil rights challenges to the stop-and-frisk practices of the New York Police Department has no doubt where she stands with the government.
The federal judge presiding over civil rights challenges to the stop-and-frisk practices of the New York Police Department has no doubt where she stands with the government.
