"The Lakers' two-year reign as NBA champions ended with their second-round playoff loss last May to the eventual champion Dallas Mavericks. They claimed a new title Wednesday as the league's most valuable franchise, according to Forbes.

The Lakers vaulted past the New York Knicks with a value of $900 million, a 40 percent increase over last year thanks in large part to their new television deal with Time Warner Cable. The Knicks were second in value at $780 million, a 19 percent increase. "