Jan. 20--The Bulls are the NBA's third most valuable team, with a current estimated value of $2.3 billion, Forbes announced Tuesday.
The Knicks remain the most valuble team, with a worth of $3 billion, a 20 percent increate from 2015. This increase, according to Forbes, is due to a new cable deal and the highest premium-seating revenue in the league.
At No. 2 is the Lakers at $2.7, 4 percent higher than last year.
The Bulls' value rose 15 percent from 2015. The team, Forbes reports, generates $228 million in annual revenue and has $67.6 million in operating income.
Jerry Reinsdorf paid $9.25 million in 1985 to gain control of the franchise, leading a group of investors.
The NBA's 30 teams generated $5.2 billion in revenue last season, a record high for the league. The average NBA team is now worth $1.25 billion, 13 percent more than 2015. The biggest jump was for the NBA champs Warriors, which had a 46 percent increase in value.
Here are the Top 10.
--1. Knicks, $3 billion
--2. Lakers, $2.7 billion
--3. Bulls, $2.3 billion
--4. Celtics, $2.1 billion
--5. Clippers, $2 billion
--6. Warriors, $1.9 billion
--7. Nets, $1.7 billion
--8. Rockets, $1.5 billion
--9. Mavericks, $1.4 billion
--10. Heat, 1.3 billion
