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Knicks Worth $780M but Trail Lakers in Value
Posted January 27, 2012
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According to Forbes, the Los Angeles Lakers have supplanted the New York Knicks as the league's most valuable franchise.
The chief factor was the Lakers' new 20-year television deal with Time Warner Cable, valued at $200 million a year starting in the 2012-13 season. The value of the Los Angeles team soared 40 percent to $900 million.
Forbes reports, "The Knicks' value rose 19% to $780 million as they benefited from their first winning record in 10 years. The Knicks sold out season tickets for the first time since the 2001-02 season. The team hiked ticket prices 49% this season to help pay for the $850 million renovation of its home arena, Madison Square Garden. The Knicks were the NBA's most profitable team with operating income of $75 million."
Read the Forbes article here,
http://www.forbes.com/sites/kurtbadenhausen/2...
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