By: Alex Del Barrio, Sportsradio 610By Alex Del Barrio

HOUSTON (CBS HOUSTON) – The Houston Rockets are the most valuable NBA franchise in the state of Texas and the 8th most valuable in the NBA according to the new NBA Franchise valuation list released by Forbes on Tuesday. This is the second straight year the Rockets have been ranked 8th in the league in value.

The Rockets are valued at $1.65 billion, just ahead of the Dallas Mavericks, ranked 9th at $1.45 billion. This represents a 10% increase in franchise value from 2016 to 2017. The 2016 value was $1.5 billion. The Rockets have an operating income of

Leslie Alexander purchased the Rockets in 1993 for $85 million.

The New York Knicks ($3.3 billion) and the Los Angeles Lakers ($3 billion) are the only two franchises valued at over $3 billion. The list continues with the Golden State Warriors ($2.6 billion), Chicago Bulls ($2.5 billion), Boston Celtics ($2.2 billion), Los Angeles Clippers ($2 billion), and the Brooklyn Nets ($1.8 billion).

The average NBA franchise value has increased by 9% at $1.36 billion.

The full list from Forbes is available here: NBA Franchise Rankings 

Alex Del Barrio  and Matt Murphy can be heard on Saturday afternoons 4-7 pm  Follow Alex Del Barrio on Twitter: @alexdelbarrio