The New York Knicks haven’t made the playoffs since 2013, haven’t reached the conference finals since 2000, haven’t played in the NBA Finals since 1999 and haven’t won a title since 1973.
They are amid their sixth consecutive losing season and currently own the league’s worst overall record at 10-43.
And yet, they are the NBA’s most valuable team, according to the recent team valuations released by Forbes, which estimated the Knicks are worth $4 billion.
The LeBron James-led Los Angeles Lakers are No. 2 on the list at $3.7 billion followed by the two-time defending champion Golden State Warriors ($3.5 billion), Chicago Bulls ($2.9 billion) and Boston Celtics ($2.8 billion).
New Orleans, which is dealing with an Anthony Davis trade request, is No. 29 ($1.22 billion), and Memphis, which could trade Marc Gasol and Mike Conley before Thursday’s deadline, is 30th ($1.2 billion).
Philadelphia had the largest year over year increase in value, going from $1.18 billion a year ago to $1.65 billion.
Team valuations are up across the board with the average team worth $1.9 million, up from $1.65 billion last year. Just five years ago, the average team was worth $634 million, per Forbes.
According to Forbes, the Knicks’ value increased 11 percent from last year because of a $1 billion renovation of Madison Square Garden, completed in 2013, that has produced a series of new revenue streams.
The Knicks, featuring a starting lineup with three new players acquired in the Kristaps Porzingis trade, lost at home Tuesday night for a franchise-record 15th consecutive game.
Contributing: The Associated Press