Bulls crack the top 20 of Forbes' most valuable sports franchises

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The Bulls' franchise is heading in the right direction on the court, and it's doing pretty great off it, too.

Forbes released its annual ranking of the top 50 most valuable sports franchises, and the Bulls are back in the top 20 with a valuation of $2.9 billion.

The Bulls are up from 23rd a year ago, when they were valued at $2.6 billion. They were 22nd in 2017 with a $2.5 billion valuation, and 18th in 2016 with a $2.3 billion valuation.

The Bulls were one of nine NBA franchises in the top 50. That number was one more than last year.

Here's a list of all nine NBA teams that made the cut:

1. New York Knicks ($4 billion)
2. Los Angeles Lakers ($3.7 billion)
3. Golden State Warriors ($3.5 billion)
4. Chicago Bulls ($2.9 billion)
5. Boston Celtics ($2.8 billion)
6. Brooklyn Nets ($2.35 billion)
7. Houston Rockets ($2.3 billion)
8. Dallas Mavericks ($2.25 billion)
9. Los Angeles Clippers ($2.2 billion)

As Forbes noted in the piece, "NBA teams have made the most dramatic moves this decade." Just seven years ago, the Lakers were valued at $900 million and were one of just two NBA teams (the Knicks were the other) in the top 50.

Among Chicago teams, the Bulls ranked second behind the Cubs ($3.1 billion) and tied with the Bears ($2.9 billion). Neither the Blackhawks nor the White Sox made the list.

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