Last year, in their annual appraisal of the value of professional basketball franchises, Forbes.com pegged the Knicks at $586 million. Being a diehard fan, I immediately mobilized all of my resources to put together that deluxe sum of money so I could buy the team. Aside from the 18 dollars I had in my wallet (plus a Metrocard with a few swipes left and my high school ID, which is valued at around $9 million), I had to raise funds by any means necessary. I held bake sales, organized telethons, and even massaged this old lady's thighs for a half hour. By December of '10, I'd amassed almost $600 million, and was well on my way to purchasing the Knicks, with money left over for season tickets.
Then, Forbes published their 2010 report. Here's Alan Hahn breaking it down:
The Knicks were valued at $655 million, which is by far the highest of any NBA team. The Lakers, who were No. 1 last year, saw their value drop from $607M in 2009 to $586M in 2010.
The Lakers, after winning their first championship since 2002, ended a four year run by the Knicks as the highest valued NBA franchise. The Knicks held the top spot from 2005-2008, as their value increase from $543M in 2005 to $613M in 2008 before it dropped to $586M in '09 to fall behind the Lakers.
Buns. Just when I was ready to make my move, the Knicks regained their spot as the priciest team in basketball at over $650 million. Now I have no idea what to do with my $600 million, which is well over the nominal GDP of Comoros. I suppose I could bid on the most expensive house in the world, but I don't want to step on Mikhail Prokhorov's toes. Alternatively, I could buy a couple Hope diamonds, grab myself a mega-yacht or, since I'm kind of bored, re-make Avatar.
Anyway, that's my own business. Long story short, the Knicks are really damned expensive. If you're in the market for a basketball team, you might want to consider the Bucks or Timberwolves.