Suns rank 13th in list of NBA's most valuable teams - CBS 5 - KPHO

Suns rank 13th in list of NBA's most valuable teams

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The Phoenix Suns are the NBA's 13th most valuable team, according to a list posted by Forbes magazine.

The Suns are valued at $474 million and earn a profit of $13 million, the magazine said.

In their comments, the magazine said the Suns have cut ticket prices in recent years, but continue to see attendance slide at US Airways Center. Last season's 13 percent drop was the third straight year of decline, the magazine noted.

The New York Knicks are the league's most valuable team, worth $1.1 billion. The Lakers rank No. 2, worth $1 billion, up 11 percent from last year. [Related: Read the full report]

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