By Kent Larsen
Forbes Says Checketts' Knicks & Rangers Most Valuable
NEW YORK, NEW YORK -- The newest issue of Forbes Magazine puts LDS
Church member Dave Checketts atop the two most valuable sports
franchises in the NBA and NHL. Checketts, a native of Bountiful,
Utah, is president of Madison Square Garden Corp., a wholely-owned
subsidiary of Cablevision Systems, Inc. As such, he controls not only
the arena in which the NBA's Knicks and the NHL's Rangers play, but
also the teams themselves.
Checketts has been known to get intimately involved with how the
teams are run, personally getting involved in trades for players,
such as his controversial move last year to trade for tainted star
Latrell Sprewell. Before heading up Madison Square Garden, Checketts
ran the Utah Jazz for Larry Miller in the 1980s.
Forbes values the New York Knicks at $395 million, higher than any
other team in the NBA, based on such factors as ticket prices,
attendance, sponsorship revenue, television rights, etc. The Rangers
also led their league, the NHL, valued at $263 million.
In addition to Checketts, the only other Mormon identified in the
management of NBA and NHL franchises is the Utah Jazz' Larry Miller.
Forbes values the Jazz at $226 million, ninth among NBA franchies,
and the franchise in the smallest city in the top 10.
Forbes Magazine 11Dec00 S2
By Kurt Badenhausen with Robert Stanfl
WHICH PRO BASKETBALL AND hockey teams will be able to afford the
Michael Jordans and Wayne Gretzkys of the future?