NBA
Why are the Knicks one of the most valuable NBA franchises if they haven’t been good recently?
Even if the Knicks last won a championship title 50 years ago, they are still the seventh-most valuable franchise in the world. Let’s take a look at why
The New York Knicks may not be one of the top teams in the NBA, but they are still the most valuable.
According to sources, the Knicks are valued at $6.58 billion, making them the second most valuable NBA franchise in 2023. The team remains extremely lucrative despite not winning an NBA championship since 1973.
But why? Let’s dive in.
The Knicks are basically on top of the list because of their location. Madison Square Garden, where they play, is still a highly profitable venue, with a $1 billion renovation to its structure. Their suite rental prices for MSG can reach up to $1 million annually if not more. Overall, the team makes tons of money due to their venue.
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New York City is home to several lucrative franchises in the area. The Yankees sit on the throne of the most valuable baseball team with a $4 billion value, which also falls fifth overall in the world. The Giants are third-best in the NFL with a $3.3 billion value, and even the Jets are the eighth-most valuable NFL franchise, at $2.75 billion.
However, the Rangers, Islanders, and Devils do not make it on this list. In fact, no NHL franchises fall within the top 50 most valuable franchises.