Forbes: All NBA franchises now valued at over $1B

Forbes released its annual list of estimated NBA franchise valuations Wednesday, and the league seems to have hit a big-money benchmark. All 30 teams are now estimated to be worth over $1 billion, with the average franchise pegged at $1.65 billion - an increase of 22 percent over last year.

The numbers are backed up by sale prices on the big-market end. The Los Angeles Clippers and Houston Rockets both sold for $2 billion or more in the last four years. Because of that market-size reality, the New York Knicks and Los Angeles Lakers remain atop the valuation list despite years of on-court struggle.

The Golden State Warriors, Chicago Bulls, and Boston Celtics round out the top five.