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KNICKS TOP LIST OF MOST VALUABLE NBA FRANCHISES

The Knicks are the NBA’s most valuable franchise despite nearly $40 million in operating losses last season, according to a list compiled by Forbes.

The Knicks topped the list for the second straight year with a value of $592 million, up 9 percent from the previous year. They had an NBA-high $185 million in revenues for the 2005-06 season, but also topped the league with losses of $39 million.

New York had a payroll of more than $120 million, easily the NBA’s largest, while going just 23–59 last season. The Knicks paid coach Larry Brown about $10 million for that season, then paid him another $18.5 million in a settlement after firing him with four years remaining on his contract.

ARENAS EDGES CARTER FOR ALL-STAR START

Gilbert Arenas pulled out another late victory. The Washington star surged past Vince Carter in the final days of All-Star voting to claim the second Eastern Conference guard spot by 3,010 votes yesterday, the fourth-closest margin for a starting spot.

LeBron James, the MVP last year, led all players with more than 2.5 million votes for the Feb. 18 game in Las Vegas.

The first All-Star game held outside an NBA city will maintain one traditional look: Shaquille O’Neal was chosen to his 14th straight All-Star games.

Arenas, O’Neal and James will be joined in the East lineup by Dwyane Wade and another firsttime starter, Toronto forward Chris Bosh. Injured Houston center Yao Ming led all West players with more than 2.4 million votes. Kevin Garnett and Tim Duncan were voted in at forward, while Kobe Bryant and Tracy McGrady won the guard spots.