Lakers finish in second place while the Bulls complete the top three.
The New York Knicks have been named the NBA’s most valuable franchise for a second straight year, according to the annual league list published by Forbes.
The Knicks topped the list at a worth of $1.4 billion, which was helped by a renovation of Madison Square Garden which led to an all-time record profit of $96 million last season.
The Los Angeles Lakers finished in second place with a valuation of $1.35 billion, while the Chicago Bulls completed the top three at $1 billion after four years of league-leading attendance as well as control of player costs allowing them to benefit.
While the Boston Celtics came in at fourth place with a valuation of $875 million, it is believed that the Brooklyn Nets are expected to benefit from their switch from New Jersey which could be a factor in a 108 percent rise in franchise value.
Just two years ago, the Forbes list suggested that the Nets were the 14th most valuable team with a worth of $357 million, but they are now up to fifth following the investment from owner Mikhail Prokhorov.
Combined with the national television rights deal being re-negotiated beyond the 2015-16 season, it is expected that there will continue to be unprecedented turnover.
Meanwhile, Kobe Bryant was the top-earning NBA player last season as he made $64.5 million in salary and endorsements, followed by LeBron James with $61 million and Derrick Rose who made $38.6 million.
Nevertheless, it is reported that the values of the NBA teams are still dwarfed by NFL teams as Forbes has estimated that the average NFL team is worth $1.17 billion.