The New York Knicks is one of the most storied franchises in all of American sports. Historically, the Knicks have also been one of the most valuable teams in the NBA, a status that remains today despite their lacklustre on-court performances in recent seasons. According to data presented by Safe Betting Sites, the New York Knicks are still the NBA’s most valuable team with a valuation of $5B.
Knicks First Team To Be Valued At $5B Despite Recent On-Court Struggles
The New York Knickerbockers or more popularly known as the Knicks is one of the original teams of the NBA when it started in 1946 back when the league was still known as the Basketball Association of America. The Knicks cemented its place in the league’s history by being part of what the NBA refers to as the first-ever NBA game played, and even scoring the first-ever NBA basket.
Since then, the Knicks have won two NBA championships and have traditionally been competitive in the Eastern Conference, until more recent times. For the past six seasons prior to the 2020-2021 season, the Knicks have lost nearly 70% of their games and have only won a Playoff series once in the last two decades.
However, the strength of New York as a sports market, as well as being the owners of one of the most iconic sports venues in the world in Madison Square Garden, meant that the franchise value of the Knicks has largely been unaffected by its on-court performance. As of February 2021, the Knicks was ranked as the most valuable franchise in the NBA for the sixth year in a row, the study by Australia Betting Sites shows. The Knicks achieved this feat by being the first franchise in history to be valued at $5B. This is 9% YoY from the 2020 value of $4.6B and a 100% increase from 2015’s valuation of $2.5B.
New York City and Madison Square Garden Account for Over 66% Of Knicks’ Valuation
The value attributed to New York City and its market size is $2.3B making it the largest North American sports market. It accounts for nearly 46.3% of the Knicks’ total valuation, making it its most lucrative source. Madison Square Garden is also a large reason for the Knicks milestone valuation, accounting for 20.5% of its total valuation.
In 2021, the value attributed to Madison Square Gaden is just over $1B. The Knicks have been reaping the benefits of the Garden’s $1B renovations from 2011-2013, being a key factor in the Knick’s league-leading valuation over the last six years.
In the period from 2003-2021, only the Los Angeles Lakers and the New York Knicks have held the top spot for franchise valuation, indicating that the Knicks on-court performances have little to no effect on the franchise’s valuation.