Join 200,000+ other SprintUsers for free at the #1 online community for Sprint cell phone customers! Win cool prizes in our weekly contests. Talk about the newest phones or post your question in our forums! Become a premium member and get unlimited Focus Uploads to your Sprint phone.

All visitors must register before they can post questions, contact other members or search our database of over 127,000 threads and 1.7 million posts. So what are you waiting for? Register for free today!

Thread Tools Rate Thread Display Modes
Old 01-26-2013, 10:28 AM   #1
Former SU Mod Grampus Misfire
DJRider's Avatar
Mood: Pensive
Join Date: Feb 4, '05
Location: Long Island NY
Posts: 15,490
Trades: 8
Thanks: 636
Thanked 762 Times in 587 Posts
My Mood: Pensive
SU$: 102,526
Forbes: Knicks top NBA at $1.1 billion

Forbes: Knicks top NBA at $1.1 Billion

By Ian Begley | Special to

GREENBURGH, N.Y. -- Back in July, there was widespread belief the New York Knicks would take a financial hit after Jeremy Lin signed with the Houston Rockets.
Apparently, Lin's departure hasn't affected the bottom line.

According to Forbes Magazine, the Knicks are the NBA's most valuable team. The magazine's most recent franchise valuations say the team is worth $1.1 billion.

Things Are Really, Really Looking Up

The Knicks' value spiked thanks to an ongoing renovation at Madison Square Garden, an increase in TV ratings and a boost in merchandising sales.

Team Value
1-yr change

1. Knicks $1.1 b 41 %
2. Lakers $1 b 11 %
3. Bulls $800 m 33 %
4. Celtics $730 m 51 %
5. Mavericks $685 m 38 %
6. Heat $625 m 37 %
7. Rockets $568 m 25 %
8. Warriors $555 m 23 %
9. Nets $530 m 48 %
10. Spurs $527 m 26 %

The Lakers are second on this year's list, valued at $1 billion. The Brooklyn Nets are ninth on Forbes' list, valued at $530 million.

The magazine reports that the Knicks' value rose 41 percent over the past season thanks to the ongoing renovation of Madison Square Garden, an increase in television ratings and merchandising sales, and the team's on-court success (the Knicks won their first playoff game in 11 seasons in 2012).

Forbes reports that the $980 million renovation of Madison Square Garden, scheduled to be completed this summer, has helped produce $243 million in revenue for the Knicks, the highest profit in the NBA.

The renovation has changed seating configuration at the Garden, putting a majority of seats closer to the court.
The new seating allowed the Knicks to raise season-ticket prices by an average of 49 percent after the 2010-11 season.

The renovation also gave MSG an opportunity to generate revenue from new advertising opportunities and to revamp its luxury boxes, thereby increasing the prices for them.
"This is all a significant increase in revenue," Richard Tullo, the director of research at the Wall Street firm Albert Fried & Company, said last month.
In addition, ratings for Knicks games were up 74 percent compared to the same period last season, according to Forbes.

Last season, thanks to a boost from Lin's remarkable run, the MSG Network's telecasts of Knicks games averaged a 3.30 Nielsen household rating, making it the highest-rated regular season ever on MSG.

Ratings are on a similar pace this season. Knicks merchandise sales are also strong, though that accounts for a small portion of revenue for the team.
According to figures released by the NBA, the Knicks jersey was the top-selling jersey in the league from April 2012 through Nov. 26, 2012.

Lin was partially responsible for the team's strong jersey sales. But the Knicks elected not to match Houston's three-year, $25.1 million offer to the point guard over the summer.
Two marketing deals with Taiwanese-based companies were not renewed with the Knicks after Lin left, but that does not appear to have affected the Knicks' bottom line.
The Madison Square Garden stock price fell from $38.91 on July 3 to $34.73 on July 23, shortly after the Knicks elected to let Lin walk. At the close of trading on Tuesday, the stock was valued at $49.50.

According to Forbes, the average NBA team is worth $509 million, a 30 percent increase from last season.
The Knicks ranked second in the NBA valuation last year, behind the Lakers. They were worth $780 million, according to Forbes.
Former SU moderator Grampus Misfire!
DJRider is offline   Reply With Quote
Old 01-26-2013, 06:03 PM   #2
Satellite Phone User
tbakergobuck's Avatar
Mood: Amazed
Join Date: Dec 2, '02
Location: Ohio
Posts: 21,566
Phone: Note 40
Trades: 10
Thanks: 1,058
Thanked 712 Times in 608 Posts
My Mood: Amazed
SU$: 189,328
Cool but the bottom line is winning a Championship. It's crazy how some of these teams make $$$...I know that sounds funny coming from a Cavs fan but ya can't say I'm a band wagon fan. Just saying.

Last edited by tbakergobuck; 01-26-2013 at 06:06 PM.
tbakergobuck is offline   Reply With Quote
Old 01-26-2013, 06:51 PM   #3
Former SU Mod Grampus Misfire
DJRider's Avatar
Mood: Pensive
Join Date: Feb 4, '05
Location: Long Island NY
Posts: 15,490
Trades: 8
Thanks: 636
Thanked 762 Times in 587 Posts
My Mood: Pensive
SU$: 102,526
I am with my childhood team the Nets and my childhood city of Brooklyn. Its nice to be able to watch the Knicks but I am in my heart a Net fan. It is nice to have the Nets and Islanders in the same building again in 2014 just as it was when I was growing up.
Former SU moderator Grampus Misfire!
DJRider is offline   Reply With Quote
Go Back > The SU Lounge > The Arena > Basketball > Forbes: Knicks top NBA at $1.1 billion


Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
AT&T eying DISH? legion125 Other Carriers & MVNOs 2 01-30-2012 11:04 AM
AT&T reports $6.7 billion loss on hefty charges, iPhone costs... SLME Other Carriers & MVNOs 11 01-27-2012 11:04 PM
Samsung Passes Apple to Become Top Smartphone Maker GoldenBlaze Sprint Discussion 13 10-31-2011 06:16 PM

All times are GMT -6. The time now is 07:46 AM.

- is not affiliated with or endorsed by Sprint PCS -