Forbes has released its rankings of the NBA's most valuable teams of 2018.
Robert Sarver's team was No. 14 on the list in 2017 with a value of $1.1 billion.
In 2018, the franchise is No. 17 on the list, but is up to a value of $1.28 billion.
That's an increase in value of 16 percent over a year.
Sarver, the Suns Managing Partner, purchased the team in 2004 for $404 million.
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Top 5 teams in 2018
The No. 1 team in the rankings? The New York Knicks.
Their current value, according to Forbes, is $3.6 billion.
The Los Angeles Lakers are No. 2 on the list at $3.3 billion, followed by the Golden State Warriors at $3.1 billion.
The Chicago Bulls ($2.6 billion) and Boston Celtics ($2.5 billion) round out the Top 5.
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Least valuable teams in 2018
The least valuable team in the NBA? That title belongs to the New Orleans Pelicans.
Forbes has their current value at $1 billion, up from $750 million a year ago.
The Memphis Grizzlies are right above the Pelicans on the list at $1.025 billion. The Charlotte Hornets are above them at $1.05 billion.
The Minnesota Timberwolves ($1.06 billion) and Milwaukee Bucks ($1.075 billion) are above the Hornets.
Every team in the NBA is now worth at least $1 billion.
12 of the NBA's 30 teams were worth less than $1 billion last season.
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Where every NBA team stands
To see the complete Forbes list of 2018 NBA team values from the Knicks at No. 1 to the Pelicans at No. 30, click here.
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