The Boston Celtics are the fourth most valuable franchise in the NBA, according to a report from NBA.com and Forbes Magazine. Boston's current value is listed as $452 million.
According to the report, the average franchise value grew 1% this year to $369 million. By comparison, the average franchise value was $379 million in 2009. In addition, the average operating income for the leagues' 30 teams is $6.1 million. In total, 17 of the 30 teams lost money last season.
The New York Knicks overtook the Los Angeles Lakers as the NBA's most valuable franchise. The Knicks are worth $655 million, marking a 12% increase in value from last season when they were worth $586 million. Los Angeles' value increased six percent in the past year, as the Lakers are now worth $643 million after being worth $607 million last year.
Chicago is the NBA's third most valuable franchise worth $511 million. Houston is the fifth most valuable at $443 million while Dallas is the league's sixth most valuable at $438 million.
As expected, Miami's value skyrocketed after added LeBron James and Chris Bosh in the offseason. On the same note, the Cleveland Cavaliers' value plummeted after losing their shining star in James.
After signing LeBron James, the Miami Heat had the biggest percentage rise, a 17 percent increase to $425 million, good for seventh place. Following the loss of James, Cleveland dropped a league-high 26 percent to $355 million.