(CBS) – As it does every year, Forbes released its valuations for each NBA franchise. The Bulls ranked as the third highest-valued franchise in the NBA at $800 million.

The Knicks were valued at $1.1 billion, with the Lakers coming in at $1 billion.

The Bulls were valued 33 percent higher in 2013 than in 2012.

Jerry Reinsdorf took over as chairman in March of 1985. He then led a group that purchased 56.8 percent of the team for $9.2 million.

Check out the full rankings here.

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