Forbes released its annual valuations of NBA franchises Wednesday, listing the Chicago Bulls third behind the New York Knicks and Los Angeles Lakers at $800 million.
That's a 33 percent change in value from a year ago, when the Bulls also were ranked third. The Knicks were valued at $1.1 billion. Forbes said the Lakers are worth $1 billion.
Chairman Jerry Reinsdorf assumed his position on March 13, 1985. He originally led a group that acquired $56.8 percent of the team for $9.2 million.
The complete Forbes list of NBA franchise values can be found here.