The Pacers' value increased 34 percent over last year - and 48 percent over the last two years - when they were valued at $800 million in 2017. The significant increase in value comes on the heels of majority owner Mikhail Prokhorov selling a 49% stake in the team to Joseph Tsai, co-founder of Chinese e-commerce giant Alibaba, for $1.2 billion in October.
The Thunder ranked 18th on the list by Forbes and are worth $1.25 billion.
Frank Ntilikina, right, and Tim Hardaway Jr. of the Knicks against the Brooklyn Nets at Madison Square Garden on January 30, 2018.
The Bulls, now nine games out of a playoff spot, are nonetheless the fourth most valuable team in the National Basketball Association, according to a new valuation by.
The Lakers ($3.3 billion), Warriors ($3.1 billion), Bulls ($2.6 billion) and Celtics ($2.5 billion) round out the top 6.
Cleveland Cavaliers - NBA champions in 2016 - are 15th in the list of valuations at $1.3bn but lost money during the a year ago, thanks in part to a $134m wage bill servicing the likes of LeBron James and Dwyane Wade. The least valuable team in the league, the New Orleans Pelicans, is still worth $1 billion, per Forbes.
Continuous growth in China - where an estimated 300 million people play the sport - has been integral in boosting the value of franchises. The average franchise is worth $1.652 billion, Forbes says, 22 percent more than a year ago.
The Warriors continue to climb up the value rankings, leaping past the Bulls for third this year.