LOS ANGELES (AFP) — The New York Knicks are enduring an extended winter on the court, but they are still the National Basketball Association's hottest property, according to a Forbes magazine report.
According to Forbes, the Knicks are the most valuable franchise in the NBA - worth some 613 million dollars.
The Knicks eddged the Los Angeles Lakers - another of the league's flagship franchises - who are worth 584 million dollars, according to the report.
The once-proud Knicks have become an NBA punchline in recent years, last winning a playoff game in 2001.
This season they are vying to regain prominence under new coach Mike D'Antoni and general manager Donnie Walsh.
Their lack of sporting success apparently hasn't hurt them financially.
The Chicago Bulls (504 million dollars), Detroit Pistons (480 million), Cleveland Cavaliers (477 million), Houston Rockets (469 million), Dallas Mavericks (466 million), Phoenix Suns (452 million), Boston Celtics (447 million) and San Antonio Spurs (415 million) rounded out the top 10 on Forbes' list.
According to the magazine, the Mavericks are the only club among the top 10 most valuable not making a profit.
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