It may have been nearly 50 years since the New York Knicks last won an NBA title in 1973 but they remain peerless when it comes to their worth. On Tuesday, Feb. 11, Forbes named the team as the most valuable NBA team for a fifth straight year, beating out the likes of Los Angeles Lakers and Golden State Warriors.

The New York Knicks’ current estimated worth of US$4.6 billion is 15 percent higher than its US$4 billion valuation in 2019 and is largely boosted by its newly revamped arena, a blockbuster local TV deal, and recent appearances in the richest North American sports market.

Joining the New York Knicks on the top five are the Los Angeles Lakers with $4.4 billion, Golden State Warriors with $4.3 billion, Chicago Bulls with $3.2 billion, and Boston Celtics with $3.1 billion. Other teams that made it to the top 10 are the Los Angeles Clippers, Brooklyn Nets, Houston Rockets, Dallas Mavericks, and Toronto Raptors.

Forbes’ annual report revealed that the average value of an NBA team is up 14 percent year over year. This significant spike in NBA team values shows that the basketball league officially outstrips the growth of teams in the National Football League (NFL), which grows by only 11 percent, and the Major League Baseball (MLB), which grows by eight percent, in the same time period. The average value of NBA teams has also skyrocketed by 575.7 percent since 2010, almost double the rate of MLB teams (361.5 percent) and NFL teams (279.2 percent).

Meanwhile, the rate at which the New York Knicks’ worth has grown in the past year only proves that James Lawrence Dolan’s franchise continues to rake in big despite its seventh straight losing season. The Knicks have been performing abysmally on the hardwood since 2010 and fans have been blaming its run of consecutive losing seasons on Dolan’s management missteps.

Last week, Dolan said despite the team’s recent front office overhaul, he would not sell the New York Knicks and would stay at its helm. “I am not selling, but I am determined to find the right leader for the Knicks who will ensure the long-term success of the team, just as we did with the hiring of Rangers President John Davidson,” he said in a statement.

Kemba Walker Boston Celtics Julius Randle New York Knicks Kemba Walker #8 of the Boston Celtics guards Julius Randle #30 of the New York Knicks during the first half of their game at Madison Square Garden on October 26, 2019 in New York City. Emilee Chinn/Getty Images