Forbes: Knicks most valuable NBA team over Lakers

Updated: January 23, 2013, 2:13 PM ET
Associated Press

NEW YORK -- The New York Knicks have surpassed the Los Angeles Lakers as the most valuable team in the NBA, according to Forbes' annual study.

Boosted by renovations to Madison Square Garden, the Knicks' value increased 41 percent to $1.1 billion. The Lakers were second at $1 billion.

The report released Wednesday estimated the average NBA team's value at $509 million, a 30 percent increase from last year.

The Chicago Bulls, Boston Celtics and Dallas Mavericks round out the ...

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