The New York Knicks received some rare positive recognition today as they were ranked the No. 1 most valuable franchise in a list published by Forbes. This marks the second consecutive season that the Knicks have been named the most valuable team in the NBA, but this version of the Knicks makes me wonder how long they will remain on top of that particular list.
The performance from the coach Mike Woodson and his players is close to being sufficient grounds for organizing a fan boycott of the entire Knicks organization, and this type of inept performance has been ongoing for the better part of a decade. In fact, I suggest that it should be required that the Knicks share their profits with the fans who continually come out to support such a dismal franchise.
Obviously, Madison Square Garden is one of the most historic and alluring venues in all of sports, but the value of a franchise is tied to the team’s performance on the court. Obviously, New York enjoyed a 54 win season a year ago, but the bottom has fallen out for the Knicks this season; and a part of me thinks that it would only be right to see that reflected in their financial earnings.
Going forward, I can’t imagine that anyone would pay premium prices for luxury seating to watch the Knicks repeatedly turn in horrific performances in front of their home fans next season. Unfortunately, the Knicks will likely sign another huge television contract, so fans will be able to watch New York underachieve from the comfort of their living room and the Knicks will be heading straight to the bank once again.
The Knicks were reported to be worth $1.4 billion which is great news for owner James Dolan, but the fans have been taken advantage of by the organization. Unfortunately, New York isn’t the only franchise that has greatly profited off of terrible teams as the top 5 franchises on the Forbes list are all below .500 on the season. The other four bandits were the Los Angeles Lakers, Chicago Bulls, Boston Celtics and the Brooklyn Nets.
Before everyone jumps all over me for my views in this article, I get the business side of this situation, but the timing of this news could not have been worse.