MIAMI (CBSMiami) – While the team was tops on the court last year, the Miami Heat was not tops at the bank.
According to Forbes, the Miami Heat ranks No. 6 in the NBA for worth, with a current value of $625 million, a 37 percent increase from last year, the South Florida Business Journal reported via Forbes.
Who’s worth the most? The New York Knicks, at $1.1 billion. They are followed by the Los Angeles Lakers, at $1 billion; the Chicago Bulls, at $800 million; the Boston Celtics, at $730 million; and the Dallas Mavericks, which is worth $685 million.
Nationally, the value of basketball teams climbed an average of 30 percent to $509 million this year, Forbes reported. The increase can be attributed to renovated arenas, TV deals and a labor deal that is favorable to owners.
Read more at Forbes.
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