Knicks top Forbes rankings

NEW YORK— The New York Knicks are worth $3 billion, highest in the NBA, according to Forbes. The magazine said Wednesday in its annual ranking of franchise valuations that the Knicks regained the top spot from the Los Angeles Lakers thanks to a 20 per cent value increase from 2015. The Lakers, the Chicago Bulls, Boston Celtics and Los Angeles Clippers rounded out the top five. The Toronto Raptors are 14th at $980 million. Forbes says the average NBA team is now worth $1.3 billion.