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The New York Knicks have reportedly gotten even more valuable.

Gerry Smith of Bloomberg reported Thursday that "the team's value has surged to $3.5 billion, according to Macquarie Research, which based its figures on the $2.2 billion sale of the Houston Rockets this week."

Jim Dolan's Madison Square Garden Co. has continued to show growth as well, per Smith:

"The company just completed a $1 billion renovation of the famous arena and plans to bring a new venue to Las Vegas. It recently bought stakes in a dining and hospitality group, a music festival producer and an esports company. Revenue from TV rights is expected to keep growing, and the Knicks and [the NHL's] Rangers are playing to near-capacity crowds."

The Knicks remain one of the most valuable franchises in all of sports. In July, Forbes valued their worth at $3.3 billion, seventh in the world and tops in the NBA. The Dallas Cowboys ($4.2 billion), New York Yankees ($3.7 billion), Manchester United ($3.69 billion), Barcelona ($3.64 billion), Real Madrid ($3.58 billion) and the New England Patriots ($3.4 billion) were ahead of them in the rankings.

The Los Angeles Lakers were the next most valuable NBA team, tied for ninth with the San Francisco 49ers at $3 billion.