Nathaniel S. Butler/Getty Images

The New York Knicks have been terrible on the court, but it apparently hasn't affected the bottom line.

According to Darren Rovell of ESPN, the Knicks lead the NBA with a $4 billion valuation:

New York owner James Dolan recently said there were "feelers" for offers on the team worth about $5 billion, per ESPN.

New York has the worst record in the league at 10-43, and it hasn't had a winning record since 2012-13. The franchise has only won a single playoff series since 2000, but playing in a major market has kept its value high.

The same could be said about the Los Angeles Lakers, who are ranked No. 2 with a $3.7 billion valuation even though they've gone five years without a playoff appearance.

The Golden State Warriors, worth $3.5 billion, have at least used on-court success to grow their brand with three titles in the last four years.