What is the current value of New York Knicks? Here are all the details
The value of the New York Knicks may be shocking to many NBA fans. At the moment, the Knicks are the second most valuable team in the league, just behind the Golden State Warriors.
The team hasn't had much success in the past two decades. The last time they appeared in the NBA Finals was in 1999. In fact, the Knicks have missed the playoffs in nine of the past 10 seasons.
This article will reveal the current value of the New York Knicks and take a deeper look into everything that makes it up. The article will also compare the team's current value to its value in previous years.
New York Knicks are the second most valuable NBA team
The New York Knicks are valued at $6.1 billion in 2022, making them the second most valuable NBA team. Surprisingly, the Knicks are the only team in the top 10 that hasn't achieved much success in the past decade.
While the Knicks are far from being the top team in the league, their value comes mostly from their location. Playing in New York City comes with its perks, and these perks are great for the owners.
With a TV market size of nearly 7.5 million, the Knickerbockers have the biggest market in the NBA. The second-largest market is Los Angeles (5.7 million), while the third spot is taken by Chicago (3.5 million).
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On top of this, Madison Square Garden Sports owns both the team and the arena. Due to this, it's not surprising that the value of the Knicks is astronomically high. Here is the historical value of the team, according to Forbes:
- Early 2022: $5.8 billion
- 2021: $5 billion
- 2020: $4.6 billion
- 2019: $4 billion
- 2018: $3.6 billion
- 2017: $3.3 billion
- 2016: $3 billion
- 2015: $2.5 billion
- 2014: $1.4 billion
The value of the New York Knicks has increased by roughly 5% since their last estimation. Since 2014, the team's value has increased by more than 335%, which is incredible.
Value of other NBA teams in 2022
The Golden State Warriors are the most valuable NBA team in 2022. Considering that the Warriors recently won their fourth championship in the past eight years, it's not surprising that they are valued at $7 billion.
The Warriors also own their arena. Chase Center, which opened in 2019, is worth more than $1.4 billion alone.
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Another team from California, the LA Lakers, is near the top of the list. The Lakers are valued at $5.9 billion and are far ahead of the Chicago Bulls ($4.1 billion) and Boston Celtics ($4 billion) who are in the fourth and fifth spot, respectively.