The Knicks may not be the best team in the NBA, but they are the most valuable.
According to Forbes, the Knicks are valued at $3.6 billion, making them the most valuable NBA franchise in 2018. They also come in at seventh overall in the world.
The biggest reason New York is at the top of the list is due to where they play. Madison Square Garden is still an extremely lucrative venue, and with a $1 billion renovation to its structure, the Knicks are still making tons of money.
For example, suite rental prices for MSG can go for more than $1 million annually.
New York has its fair share of lucrative franchises in the area. The Yankees lead all of baseball with a $4 billion value, which also falls at fifth overall in the world. The Giants are third-best in the NFL with a $3.3 billion value, and fall at eighth overall. And even the Jets at $2.75 billion is 21st in the world, or the eighth-most valuable NFL franchise.
Unfortunately, the Rangers, Islanders, and Devils don't land on the list. There are actually no NHL franchises that fall within the top 50 most valuable franchises.