L.A. Times: The Lakers’ victories keep coming from last season.
In addition to winning the NBA championship, the Lakers were the league’s most valuable franchise, overtaking the New York Knicks after years of finishing second to them, according to Forbes magazine.
The Lakers took over the NBA’s top spot with a franchise value of $607 million, up 4% from the previous season, according to the magazine’s financial analysis of the 2008-09 season. The Knicks are valued at $586 million, a 4% drop.
The Chicago Bulls ($511 million), Detroit Pistons ($479 million) and Cleveland Cavaliers ($476 million) were the next three teams.
The Lakers were also the most profitable team in 2008-09, making $51.1 million on $209 million in revenues.
“We’re very happy with the way business is going,” said Tim Harris, senior vice president of business operations for the Lakers. “We renewed season-ticket holders at 98%, sponsorship revenue is up, and the team’s obviously playing well right now.”