The Forbes magazine named the Los Angeles Lakers as the NBA’s most valuable team amongst all. According to the magazine’s report, 12 franchises from NBA league are facing a loss for the 2008-09 season.
Forbes released their annual listings on 9th December, 2009 and found the Lakers worth USD 607 million at the top spot with an increase of 4% from last year’s value. Following the champions are the New York Knicks with USD 586 million, even with a 4% drop from last year. The Lakers have upset the Knicks who stood unaltered at the top spot since last 4 seasons. Rest of the top five picks includes the Chicago Bulls with USD 551 million, the Detroit Pistons with USD 479 million and the Cleveland Cavaliers with USD 476 million. The Milwaukee Bucks occupy the last spot with USD 254 million.
The overall league average is down by 4 percentages as compared to the past year with a current value of USD 367 million and an operating income of USD 7.8 million. The Dallas Mavericks, New Jersey Nets, Orlando Magic, Minnesota Timberwolves, Sacramento Kings, Portland Trail Blazers, Atlanta Hawks, Milwaukee Bucks, New Orleans Hornets, Indiana Pacers and Memphis Grizzlies all have reported losing money in the past year.
The Lakers are at the top with an operating income of USD 51.1 million with the Bulls closely following at USD 51 million. The Trail Blazers have shown an increase by 10% in the value and the Grizzlies and Kings have dropped by 10% each.