Unsurprisingly, LeBron James had an even bigger impact, helping to boost the Miami Heat's value 17 percent, while the Cleveland Cavaliers fell 26 percent.
Here's a look at the five most valuable teams in the NBA. For the complete list, visit Forbes.com.
1. New York Knicks: $655 million
The Knicks sold out their full-season ticket plans for the first time in nearly a decade. Amar'e Stoudemire gets much of the credit, but ticket sales for the 2010-11 season were actually up before STAT signed, in anticipation of LeBron James arriving in New York. Team president Donnie Walsh's efforts to trim salaries helped here too; the Knicks are under the salary cap for the first time in a generation.
2. Los Angeles Lakers: $643 million
The two-time defending NBA champs slipped out of the number one spot on Forbes' list, but don't cry for Jerry Buss, who has turned a $20 million investment in 1979 into a $643 million beast.
3. Chicago Bulls: $511 million
The "second city" may be the NBA's most lucrative market. Chicago is the third-largest market in the United States, but unlike the Knicks and Lakers, the Bulls don't have to compete with another NBA team in their back yard.
4. Boston Celtics: $452 million
With a veteran-laden (in other words, expensive) roster, the Celtics needed a deep run in the playoffs to post an operating profit last season.
5. Houston Rockets: $443 million
The Rockets' value slipped by six percent last season, due to a disappointing record and the absence of center Yao Ming. That could be the start of a trend, as the big center is out for the season again this year. With a contract that expires after this season, his career in Houston could be over.