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Bulls Ranked Third in Forbes' Annual Value List

Media company says Bulls' market value increased 17 percent from last year

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    MIAMI, FL - MAY 24: (L-R) Joakim Noah #13, Ronnie Brewer #11, Carlos Boozer #5, Derrick Rose #1 and Luol Deng #9 of the Chicago Bulls look on against the Miami Heat in Game Four of the Eastern Conference Finals during the 2011 NBA Playoffs on May 24, 2011 at American Airlines Arena in Miami, Florida. The Heat won 101-93 in overtime. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Mike Ehrmann/Getty Images)

    The Chicago Bulls are the NBA's third most valuable franchise, according to the latest list by Forbes, released Wednesday.

    The media company said the Bulls had a market value of $600 million, a 17 percent increase from last year.

    The Los Angeles Lakers topped the annual list, followed by the New York Knicks. The Dallas Mavericks and the Boston Celtics rounded out the top five.

    The Milwaukee Bucks were ranked the least valuable of the league's 30 franchises, with a market value of $268 million.