According to Forbes Magazine, the addition of Amar’e Stoudemire turned out to be more economically useful than another Larry O’Brien trophy.
The Knicks are the champions of the bottom line – the franchise was appraised at $655 million, up a surprising 12% from last year, despite losing out on in the LeBron James sweepstakes last summer. The defending champion Lakers came in just behind New York at $643 million, up 6% from last year.
Other Interesting facts from Forbes report:
- Chicago, Boston and Houston (Really?) rounded out to the rest of the top 5.
- The Miami Heat grew 17% in value (no surprise there), while the Cleveland Cavaliers dropped a staggering 26%.
- That other L.A. team checked in at #22.