For all their dysfunction in recent years, the Knicks continue to be the league leaders in one category — turning a profit.
The New York franchise had been crowned the most valuable team in the NBA by Forbes.com. The Knicks are reportedly worth $3.6 billion, making them the seventh most profitable sports franchise in the world (Note: The Dallas Cowboys top the list for the third straight year at $4.8 billion).
A big contributing factor to the fiscal windfall is the $1 billion dollar renovation that Madison Square Garden completed in 2013. According to Forbes, the additional suite rentals account for over $1 million per year.
And we wonder why James Dolan isn’t interesting in selling. Think about it this way — New York has one playoff series win in 18 years. Imagine the profits when we actually get good?