Forbes: Average NBA team worth more than $1B

Forbes has released its annual list of estimated NBA franchise values, and there are some truly eye-popping figures. 

The average team is now worth $1.1 billion, a staggering 74 percent increase over last year. Eleven of the league's 30 teams are now valued over the billion mark, according to the publication.

The Los Angeles Lakers lead the way at $2.6 billion. Right behind them, the New York Knicks at $2.5 billion.

While both teams are unmitigated disasters on the floor this year, their brands continue to appreciate - in record ways. Just one year ago, the Knicks and Lakers were valued at around $1.4 billion.

The stunning shoot-up in team values is the largest one-year gain in any sport since Forbes began estimating dollar amounts on franchises in 1998. Various factors are at play, such as the $2-billion sale of the Los Angeles Clippers and the league's $2-billion TV deal set to begin in 2016.

For some perspective, the Lakers are valued at about the same amount as the New England Patriots. The NFL, by far the wealthiest of the North American pro sports leagues, had an average franchise value of $1.43 billion, based on Forbes' model in August.

Here is the NBA's full list.