Knicks fan raises a championship belt outside Madison Square Garden
Knicks fan raises a championship belt outside Madison Square Garden
The Los Angeles Lakers have an agreement to sell for $12.5 billion, pending approval from the NBA’s board of governors. Ten months after Mark Walter bought control at a $10 billion valuation, Josh Kushner and Bob Iger are paying 25 percent more.
The immediate New York thought is obvious: what would somebody pay for the Knicks now?
I would put the old estimates aside. Forbes valued the Knicks at $9.75 billion in October 2025, before Jalen Brunson lifted the trophy and before another buyer reset the league record by $2.5 billion.
No report says James Dolan is selling. The Lakers agreement still gives Knicks fans a new reason to stare at the franchise value and wonder how far it has run.
Knicks fans cheer during the NBA Finals outside Madison Square Garden
Knicks fans watch Game 5 of the NBA Finals outside Madison Square Garden.
The Knicks have assets a valuation model cannot copy
Forbes credited New York with $532 million in annual revenue and $193 million in gate receipts in its latest estimate. Madison Square Garden, the league’s largest market and a championship roster all sit under the same brand.
The title matters even if franchise prices have never moved perfectly with wins. A buyer would be bidding on a team with a global fan base, a renovated arena in Manhattan and a lead guard signed through his prime.
Los Angeles still has a different reach. The Lakers have 17 titles, international recognition and decades of star power. New York does not automatically jump to $12.5 billion because another famous team found an aggressive buyer.
The new deal does make $9.75 billion feel stale. If the Lakers gained $2.5 billion in ten months, the Knicks’ first championship in 53 years probably did not leave their value sitting still.
A Knicks sale would test a completely new ceiling
Dolan has given no public sign that he wants out. MSG Sports has discussed the possibility of selling a minority stake in the past, which is very different from putting the team on the market.
The Lakers transaction is also an agreement rather than a completed sale. NBA approval can take weeks, and the final ownership structure matters.
Still, the price changes the way every top franchise gets discussed. Knicks fans already saw what one title did to ticket prices. The ownership price may have climbed even faster.
If Dolan ever listens, $10 billion would no longer sound like a serious opening number. The Lakers made sure of that.