At the end of 2008 the Knicks were valued at $613 million by Forbes magazine making them the richest franchise in the NBA. It was the fourth year in which the Knicks were valued at the top, but despite the reported wealth the team hasn’t won a championship since 1973, three years after winning their first. In recent years the Knicks have struggled to compete in the eastern conference, posting losing recordssince 2001. The ownership has decided to rebuild by hiring Mike D’Antoni and shedding salaries in order to make salary cap space for the 2010 where the free agency list includes the likes of, LeBron James, Dwayne Wade, Chris Bosh, Amare Stoudemire, Paul Pierce and Dirk Nowitzki.