The New York Knicks are the league’s most valuable team, worth $1.1 billion, reclaiming the crown from the Los Angeles Lakers, who topped last year’s list. The Knicks’ value rose 41%, mainly due to a $980 million renovation of Madison Square Garden that is expected to be completed this summer. The makeover resulted in an NBA-leading $243 million in revenue last season. The Knicks’ operating income of $83 million was the highest in the league for a third straight year. Another plus: better play. In 2012, the Knicks won a playoff game for the first time since 2001. Forbes

The average NBA team is worth $509 million, a 30% increase over last year

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Kinda cool and fancy, I hope our knicks this year live up to this value as a team, we need a really good playoff run, heck, why not a championship?