NBA MVTs: Rockets land at 7th on Forbes' list of most valuable NBA franchises

By Cory McCord - Digital News Editor, AP Author
2019 Getty Images

James Harden reacts after hitting a three-point shot against the Phoenix Suns during the second half of the NBA game at Talking Stick Resort Arena on February 04, 2019 in Phoenix, Arizona. The Rockets defeated the Suns 118-110.

HOUSTON - The Houston Rockets are the seventh-most valuable franchise in the NBA, according to Forbes' annual valuations.

Tilman Fertitta's Rockets are worth $2.3 billion, up 5 percent from last year.

Houston takes in $326 million in revenue and has an operating income of $103 million. The Rockets sit behind the Nets (sixth), Celtics (fifth), Bulls (fourth), Warriors (third), Lakers (second) and Knicks (first).

The New York Knicks are worth $4 billion, making them the most valuable NBA team for the fourth straight year, according to Forbes. That's despite having the worst record among the league's 30 teams.

In its annual rankings, Forbes said 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.

Forbes says the Los Angeles Lakers remain in second place with a value of $3.7 billion, up 12 percent.

The average NBA team is worth $1.9 billion, up 13 percent from last year.

Copyright 2019 by KPRC Click2Houston. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.