Despite another subpar season, the New York Knicks are still on top of the basketball world. Meanwhile, on the west coast, the Los Angeles Lakers have been dethroned as the king of California basketball.
In Forbes’ most recent ranking of the most valuable teams in the world, the Knicks earned the third-place spot with a valuation of $5.8 billion. The Warriors came next with a valuation of $5.6 billion, ahead of the Lakers, with a $5.5 billion valuation.
(via Forbes):
Somehow, despite decades of disappointment and mismanagement, the Knicks are still worth over $5.8 billion. No doubt, it has to do with location, not only in the metropolis that is New York City but also the location of Madison Square Garden, which is widely regarded as the most famous sports arena in America. But their status as the top moneymaker in the NBA is nothing new.
The Warriors, though, are enjoying a level of prosperity that has them neck-and-neck with the Lakers in terms of the total value. It’s not just about star-power for the Warriors. Over the past decade, Golden State has been among the most successful teams in the sports world, with three championships and six Finals appearances. Their current run is like something akin to what we saw from the 90s Bulls:
The Golden State Warriors are the first team to reach 6 NBA Finals in 8 years since the Michael Jordan led Chicago Bulls. The Chicago Bulls reached 6 NBA Finals between 1991 and 1998, losing out on 2 years in 1994 and 1995.
The Warriors reached 5 consecutive NBA Finals between 2015 and 2019, and are going back to the NBA Finals for the first time in 3 years, that too after missing the playoffs for 2 seasons in a row.
Right now, the Knicks and Warriors are the most valuable basketball teams in the world, and it’s clear to see why. Location is everything, but so is star power and success to a certain degree.
For the Lakers, if they want to re-take their place in the top two, they will need to put together a better roster and stay competitive for the upcoming season.
We will see if they are able to return to a place of contention before the Warriors get too far ahead.
