Photo

Milwaukee Bucks' Brandon Jennings (3) drives past Charlotte Bobcats' Kemba Walker during the second half of an NBA basketball game, Friday, Dec. 7, 2012, in Milwaukee.

Regular Photo Size

Bucks-NBA

Jason Collins seeking book deal

Jason Collins, the NBA veteran who last week announced he was …

James wins MVP, 1 vote shy of unanimously

LeBron James wins NBA MVP

LeBron James was at his best this season, and the voters tasked…

Boylan out after Bucks' late-season collapse

Boylan out as coach of the Bucks

A trip to the playoffs wasn't enough to save Jim Boylan's job …

Collins comes out, support quickly follows

Ryan Braun voices support for Collins

Jason Collins came out, got widely congratulated for his …

NBA veteran Collins comes out as gay

NBA veteran Jason Collins became the first active male player …

Forbes: Milwaukee Bucks least valuable NBA team

Knicks most valuable NBA team over Lakers

Updated: Wednesday, 23 Jan 2013, 12:30 PM CST
Published : Wednesday, 23 Jan 2013, 12:30 PM CST

NEW YORK (AP) - The New York Knicks have surpassed the Los Angeles Lakers as the most valuable team in the NBA, according to Forbes' annual study.

Boosted by renovations to Madison Square Garden, the Knicks' value increased 41 percent to $1.1 billion. The Lakers were second at $1 billion.

Click here to view the full list

The report released Wednesday estimated the average NBA team's value at $509 million, a 30 percent increase from last year.

The Chicago Bulls, Boston Celtics and Dallas Mavericks round out the top five.

The Milwaukee Bucks were the least valuable at $312 million. The Nets' value increased 48 percent to $530 million, ranking ninth, after their move from New Jersey to Brooklyn.