For the first time, the average team is now worth over a billion dollars ($1.65 billion) a 22 percent increase from previous year.
Forbes attributed the growth in franchise values league-wide to a variety of factors: the NBA's worldwide media and marketing growth in China and elsewhere; the start of a new national TV contract in the US with "three times the worth of the previous deal on an annual basis"; new corporate logos on jerseys; and others.
That is a 22% rise on 12 months ago.
The Los Angeles Lakers ($3.3 billion) are second on the list, followed by the Golden State Warriors ($3.1 billion), Chicago Bulls ($2.6 million) and Boston Celtics ($2.5 million) rounding out the top five.
The Warriors - NBA Finals winners in 2017 - have been able to increase ticket prices off the back of their success in recent seasons and their value is 19% higher year-on-year.
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Frank Ntilikina, right, and Tim Hardaway Jr. of the Knicks against the Brooklyn Nets at Madison Square Garden on January 30, 2018. The league is in such good shape that in the latest Forbes valuations every team is valued to be worth at least $1 billion, with the average franchise being worth over $1.6 billion.
Cleveland Cavaliers - NBA champions in 2016 - are 15th in the list of valuations at $1.3bn but lost money during the past year, thanks in part to a $134m wage bill servicing the likes of LeBron James and Dwyane Wade.
Their year-to-year value increase was sixth-best among all teams.
It's an important to keep in mind that these are estimates, and not a real value.
The Boston Celtics are the fifth-most valuable franchise in the National Basketball Association, according to Forbes Magazine's valuations, coming in at about $2.6 billion.