The New York Knickerbockers (commonly known as Knicks) are a professional basketball team based in New York City. The team plays in the National Basketball Association (NBA).
According to Forbes Magazine, the Knicks are the most valuable basketball franchise in the United States, valued at approximately $608 million.
At one point, the Knicks were owned by Gulf+Western, which was renamed to Paramount Communications in 1989, and sold to Viacom in 1994. Viacom then sold the team to current owners Cablevision.
2007-2008
At the 2007 NBA Draft, Thomas traded Channing Frye and Steve Francis to the Portland Trail Blazers for Zach Randolph, Fred Jones, and Dan Dickau. The draft also featured the Knicks selecting Wilson Chandler with the 23rd pick and later acquiring the rights to Demetris Nichols ¡ª the 53rd pick in the draft ¡ª from the Blazers. Dickau was traded to the Clippers for draft pick Jared Jordan. Jordan and Nichols were both released by the end of the preseason. The Knicks started out 2¨C1 and went on to post a 7th consecutive losing season and tied the franchise mark for their worst record ever, at 23-59. Many Knicks fans called for the firing of coach and GM Isiah Thomas,[6]. The chant "Fire Isiah" became common at Madison Square Garden over the course of the season. On November 29, 2007 after engaging in pre-game trash talk with the league-leading Celtics prior to a road game while they were still winless on the road, the Knicks were handed one of their worst defeats in their history by the Boston Celtics, with a final score 104¨C59. This matched their third-largest margin of defeat.