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Knicks could be worth $3 billion

Updated: June 6, 2014, 12:48 PM ET
By Darren Rovell | ESPN.com

The New York Knicks could now be worth $3 billion.

So says Rich Tullo, an analyst at Albert Fried & Company, which made the comment as part of a note issued Friday morning to announce that the research company was revising its price target for Madison Square Garden stock upward to $85 a share.

Tullo wrote that the Knicks, he believes, are now worth between $1.4 billion and $3 billion "based on percent premiums of recent sales prices paid for franchises such as the L.A. Clippers ...

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