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.   -  AFP

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.