While the team’s on-court play is stinking up the Big Apple from Tremont to Tottenville, owner Jimmy Dolan — by increasing ticket prices and jacking up the cost of a courtside hot dog — has seen the value of the team jump 27 percent in just one year.
With the huge run-up in value — to $1.4 billion — the Knickerbockers have retained the title as the most valuable NBA franchise, according to Forbes.
Operating profit for Dolan’s team came in at $96.3 million — or more than $2 million per home game, Forbes magazine found, whether they win, lose or even, yes, not show up to play.
The Lakers, whose value soared 35 percent in the last year to $1.35 billion, are the NBA’s No. 2 most-valuable franchise.
The Chicago Bulls were the third and final NBA team in the billion-dollar club, as owner Jerry Reinsdorf’s profitable toy saw its value soar 25 percent to $1 billion.
The Brooklyn Nets came in fifth, behind the Boston Celtics, and are worth $780 million. While their value — thanks to their escape from New Jersey — increased 47 percent, more than Dolan’s Knicks, the magazine reported the Kings County franchise was nicked by an operating loss of $19 million.
NY Post...Knicks win title -- Not on court but as NBA's most valuable
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