Knicks is NBA's most valuable franchise, worth $4B according to Forbes

Forbes has the New York Knicks' net worth to be $4 billion. The Los Angeles Lakers was listed second, worth $3.7 billion.

Knicks' Emmanuel Mudiay (#1) dribbles the ball past 76ers' Joel Embiid (#21) at Madison Square Garden.

The New York Knicks, despite the worst record in the league, is the most valuable NBA franchise, according to Forbes' annual list released Wednesday.

The franchise is valued at $4 billion, with the Los Angeles Lakers coming in second with a net worth of $3.7 billion.

Rounding out the top five are the Golden State Warriors ($3.5 billion), Chicago Bulls ($2.9 billion) and Boston Celtics ($2.8 billion).

Forbes cited the Knicks' $1 billion in renovations to Madison Square Garden that was completed in 2013 as a huge source of revenue for the team. According to the report, that helped the Knicks' value jump 11 percent from the previous year's assessment.

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In comparison, the Lakers' net worth jumped up 12 percent.

Intrigue with and interest in the Knicks (10-43 this season) could jump again after it traded injured star Kristaps Porzingis with Tim Hardaway Jr. and Courtney Lee to the Dallas Mavericks in a huge trade last week that got them Dennis Smith Jr., DeAndre Jordan and Wesley Matthews.

Some speculate the move positions the Knicks to acquire not one but two big-ticket free agents this offseason, such as Kevin Durant and Kyrie Irving.

According to Forbes' report Wednesday, the average NBA team is worth $1.9 billion, up 13 percent from last year.