Knicks edge Lakers as NBA's most moneyed team for fourth year

NEW YORK: The New York Knicks are the most valuable professional basketball team in the NBA for the fourth consecutive year, Forbes magazine reported on Wednesday.

The Knicks' estimated value is $613 million, up $5 million from last year's list, according to the magazine.

The team, owned by Cablevision Systems Corp, had estimated operating income of $29.6 million for the 2007-2008 season, a large improvement from a loss of $42.2 million the previous year, Forbes said.