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Bulls Named NBA's Third Most Valuable Team By Forbes

Forbes magazine ranks sports teams by valuation -- determined by a number of factors -- generally, when their sport is in midseason.

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In their latest issue, they rank NBA teams. The Bulls rank third in their latest ranking, trailing only the Knicks and Lakers. Clearly, market size has a lot to do with those rankings, although the Knicks have also been better on the court this season.

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The Bulls' overall valuation is $511 million, on $169 million of revenue. The total ranking is unchanged from last year. They rank quite a distance behind the Lakers, at $643 million, and also far ahead of the Celtics, who rank fourth at $452 million.

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The bottom ranks are taken up by the Pacers, Grizzlies, Timberwolves and Bucks, who rank last at $258 million. 17 of the 30 teams in the ranking are shown with negative operating income, which does not bode well for next year's NBA season; a threatened lockout may come to pass.

↵↵You can find the entire chart of all 30 NBA teams here.