Yes, the New York Knicks have been a running joke around the NBA for over two decades now. While that may be the case, the Knicks play in New York City and with that comes value. According to Forbes, the Knicks are valued at $4 billion, making James Dolan’s team the most valuable for the fourth-straight year.

The Los Angeles Lakers remain in second place with a value of $3.7 billion, up 12 percent.

Rounding out the top five are the Golden State Warriors ($3.5 billion), Chicago Bulls ($2.9 billion) and Boston Celtics ($2.8 billion).

In terms of all sports, Knicks are tied with the New York Yankees as the second-most-valuable U.S. sports franchises, trailing only the Dallas Cowboys, which is worth $5 billion.

While the Knicks are re-branding their image around the league, the summer of 2019 could further increase their value. For the first time ever, the Knicks have cap space flexibility to add two marquee free agents, as well as a top 3 NBA draft pick. If everything works out for them this summer, they could be in the position to really distance themselves from the Lakers in terms of net worth value.