Knicks Are NBA's Highest Valued Team

The New York Knicks have benefited from an upgrade to their home at Madison Square Garden

The New York Knicks have benefited from an upgrade to their home at Madison Square Garden

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.

Status Yellow: Met Eireann issues national warning for snow and ice
Democrat feminist behind #MeToo movement accused of sexually assaulting men