The average NBA franchise is now worth $1.25 billion, up 13 percent over last year with a 74 percent gain on the previous year after the national television media deals were completed.

The New York Knicks reclaimed the top spot from the Los Angeles Lakers after a one-year hiatus with a $3 billion valuation. The Lakers are now worth $2.7 billion.

The Knicks have a new cable deal and the highest premium-seating revenue in the league at almost $90 million. The split of the media and sports assets of Madison Square Garden Company in September precipitated a new media rights deal for the Knicks with the MSG regional sports network. The 20-year pact kicks off this season and is worth $100 million in the first year.

Rounding out the top five are the Chicago Bulls ($2.3 billion), Boston Celtics ($2.1 billion) and Los Angeles Clippers ($2 billion). Thirteen teams are worth at least $1 billion, up from just three two years ago.

1. New York Knicks: $3 billion
2. Los Angeles Lakers: $2.7 billion
3. Chicago Bulls: $2.3 billion
4. Boston Celtics: $2.1 billion
5. Los Angeles Clippers: $2 billion
6. Golden State Warriors: $1.9 billion
7. Brooklyn Nets: $1.7 billion
8. Houston Rockets: $1.5 billion
9. Dallas Mavericks: $1.4 billion
10. Miami Heat: $1.3 billion
11. San Antonio Spurs: $1.15 billion
12. Cleveland Cavaliers: $1.1 billion
13. Phoenix Suns: $1 billion
14. Toronto Raptors: $980 million
15. Portland Trail Blazers: $975 million
16. Washington Wizards: $960 million
17. Oklahoma City Thunder: $950 million
18. Sacramento Kings: $925 million
19. Orlando Magic: $900 million
20. Utah Jazz: $875 million
21. Denver Nuggets: $855 million
22. Detroit Pistons: $850 million
23. Indiana Pacers: $840 million
24. Atlanta Hawks: $825 million
25. Memphis Grizzlies: $780 million
26. Charlotte Hornets: $750 million
27. Minnesota Timberwolves: $720 million
28. Philadelphia 76ers: $700 million
29. Milwaukee Bucks: $675 million
30. New Orleans Pelicans: $650 million

Adam Silver was asked if he remains optimistic about the possibility of the owners agreeing to terms on a new collective bargaining agreement with the players.

"I remain optimistic, yes.  There is an opt‑out window in this current collective bargaining agreement, slightly less than a year from now," said Silver. "I am encouraged by the fact that we have already begun direct discussions with the Players Association, and where there's a will, there's a way. Both of us, both sides, both our ownership and the executives of the Players Association, have stressed a strong interest in working things out at the table behind closed doors and avoiding any possible loss of games. So I remain optimistic that we will do that."

The NBA missed the first part of the 11-12 season due to a lockout.