In the past three years, either Kobe Bryant or LeBron James have taken home the Maurice Podoloff Trophy as the National Basketball Association’s MVP, but neither superstar can claim to play for the most valuable team in the league.
According to Forbes.com, the New York Knicks now hold the distinction of being the NBA’s most valuable franchise, supplanting the two-time defending champion Los Angeles Lakers.
The value of the resurgent Knicks rose from $586 million to $655 million in the past year, an increase of 12 percent. The rise was directly linked to the free-agent signing of Amar’e Stoudemire, who has helped the team earn victories both on court and in the boardroom with sponsors.
For the first time in nearly a decade, the Knicks sold out their full season ticket inventory, while their parent company, Madison Square Garden, Inc., signed a sponsorship deal with JPMorgan Chase that’s worth at least $30 million annually over 10 years.
With superstar forward Carmelo Anthony on his way to the Big Apple and ongoing renovations at the Garden, the Knicks could very well own the top spot for several years to c ...
Read Full Article at Bleacher Report - NBA
Article written by Ronald Monestime
New York Knicks Top Forbes List Of NBA’s Most Valuable Teams
January 27th, 2011 by Ronald Monestime Leave a reply »
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