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.
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.
Sunday, May 19 2013 12:24 AM EDT2013-05-19 04:24:33 GMT
Officials in Connecticut say it was amazing that there were no fatalities or more injuries after two Metro-North trains collided around 6 p.m. in Fairfield Friday evening.
Officials in Connecticut say it was amazing that there were no fatalities or more injuries after two Metro-North trains collided around 6 p.m. in Fairfield Friday evening.
Sunday, May 19 2013 12:13 AM EDT2013-05-19 04:13:53 GMT
The NYPD says a 14-year-old girl was shot and killed on a Queens MTA bus Saturday night. The incident happened around 8:50 p.m. on board the Q-6 bus on Sutphin Avenue and Rockaway Boulevard
The NYPD says a 14-year-old girl was shot and killed on a Queens MTA bus Saturday night. The incident happened around 8:50 p.m. on board the Q-6 bus on Sutphin Avenue and Rockaway Boulevard
Sunday, May 19 2013 12:05 AM EDT2013-05-19 04:05:15 GMT
Authorities say one person is dead and another was injured when the vehicle they were in ran off the road and crashed into Huntington harbor on Long Island Saturday evening.
Authorities say one person is dead and another was injured when the vehicle they were in ran off the road and crashed into Huntington harbor on Long Island Saturday evening.
Saturday, May 18 2013 10:14 PM EDT2013-05-19 02:14:35 GMT
An airline official says a US Airways flight with 34 people aboard was forced to make a belly landing at Newark International Airport after experiencing landing gear trouble. No injuries were reported.
An airline official says a US Airways flight with 34 people aboard was forced to make a belly landing at Newark International Airport after experiencing landing gear trouble. No injuries were reported.
Saturday, May 18 2013 8:33 PM EDT2013-05-19 00:33:09 GMT
A 12-year-old boy was shot and killed and his father was wounded on a Jersey City street Friday night. Police say Gywan Levine Jr. and his father, Gywan Levine Sr., were walking on Rutgers Avenue
A 12-year-old boy was shot and killed and his father was wounded on a Jersey City street Friday night. Police say Gywan Levine Jr. and his father, Gywan Levine Sr., were walking on Rutgers Avenue
Saturday, May 18 2013 6:52 PM EDT2013-05-18 22:52:45 GMT
A large crowd of supporters in the Bronx joined the parents of a slain teen to protest a judge's ruling Saturday. Constance Malcolm and Francelot Graham whose son Ramarley was killed back in February
A large crowd of supporters in the Bronx joined the parents of a slain teen to protest a judge's ruling Saturday. Constance Malcolm and Francelot Graham whose son Ramarley was killed back in February
