NEW YORK (AP) -- The New York Knicks have surpassed the Los Angeles Lakers as the most valuable team in the NBA, according to Forbes' annual study.
Boosted by renovations to Madison Square Garden, the Knicks' value increased 41 percent to $1.1 billion. The Lakers were second at $1 billion.
The report released Wednesday estimated the average NBA team's value at $509 million, a 30 percent increase from last year.
The Chicago Bulls, Boston Celtics and Dallas Mavericks round out the top five.
The Milwaukee Bucks were the least valuable at $312 million. The Nets' value increased 48 percent to $530 million, ranking ninth, after their move from New Jersey to Brooklyn.
By DOUG FERGUSON AP Golf Writer Former U.S. Open champion Ken Venturi has died just 12 days after he was inducted into the World Golf Hall of Fame. He was 82.
By DOUG FERGUSON AP Golf Writer Ken Venturi, who overcame dehydration to win the 1964 U.S. Open and spent 35 years in the booth for CBS Sports, died Friday afternoon. He was 82.
Hiroki Kuroda pitched two-hit ball for eight dominant innings and the New York Yankees again beat Mark Buehrle and the Toronto Blue Jays, 5-0 on Friday night.
Hiroki Kuroda pitched two-hit ball for eight dominant innings and the New York Yankees again beat Mark Buehrle and the Toronto Blue Jays, 5-0 on Friday night.
Friday, May 17 2013 8:53 PM EDT2013-05-18 00:53:52 GMT
The New Jersey Sports and Exposition Authority has approved the master plan for the American Dream megamall in the Meadowlands sports complex. The approval at Friday's special board meeting means the
The New Jersey Sports and Exposition Authority has approved the master plan for the American Dream megamall in the Meadowlands sports complex. The approval at Friday's special board meeting means the
Friday, May 17 2013 5:54 PM EDT2013-05-17 21:54:45 GMT
The big game will be played in New Jersey but the big party will be in New York City. Organizers call it "Super Bowl Boulevard."
The big game will be played in New Jersey but the big party will be in New York City. Organizers call it "Super Bowl Boulevard": it will stretch from 44th Street on Broadway all the way to 34th Street.
Thursday, May 16 2013 2:07 PM EDT2013-05-16 18:07:03 GMT
David Beckham is retiring from soccer after the season, ending a career in which he become a global superstar since starting his career at Manchester United.
David Beckham is retiring from soccer after the season, ending a career in which he become a global superstar since starting his career at Manchester United.
Thursday, May 16 2013 7:47 AM EDT2013-05-16 11:47:50 GMT
Rookie Shelby Miller followed up his nearly perfect one-hitter with 5 2-3 scoreless innings and the Cardinals scored the go-ahead run in the seventh on a wild pitch in a 4-2 victory over the New York Mets.
Rookie Shelby Miller followed up his nearly perfect one-hitter with 5 2-3 scoreless innings and the Cardinals scored the go-ahead run in the seventh on a wild pitch in a 4-2 victory over the New York Mets.
