Once again it is time to check in with our friends at “Forbes Magazine” as they have released their annual list of the most valuable NBA franchises. According to the magazine’s calculations; there is a new team topping the list this year. The Los Angeles Lakers have become the most valuable franchise due to their new TV contract. Forbes reports to be their value at $900 million. The club that was number one last year; the New York Knicks have slipped to number two on the list and said to be worth $780 million.
Coming in at the third slot are the Chicago Bulls who are reportedly worth $600 million, fourth on the list are the defending NBA Champions the Dallas Mavericks. The Magazine says that the club their first NBA Title last June are valued at $497 million. The Boston Celtics are number five on the list as the magazine reports that the club is worth $482 million.
One interesting side-note; the Cleveland Cavaliers a team that fell from being one of the leading contenders for an NBA Title to having the second worst record in the Association last season, actually had their most profitable year in the club’s history. The magazine reports that they made $33 million in operating costs during the 2010-2011 campaign. According to the report the club’s payroll had been reduced by $30 million and Cleveland did not get hit with the Luxury Tax as they did the season before. The Cavaliers are said to have paid $16 million to the Association the year before as they exceeded the NBA Salary Cap.