Forbes Magazine's annual summary of the state of the NBA's finances is out. While there is some good news--the Nets have cut their operating losses, the value of the franchise is now $295 million, down 13% from 2007 and less than the $300 million Bruce Ratner paid for them in 2004. Forbes also reports that the Nets have the highest debt-to-value ratio of any NBA team, with the team's debt equal to 71% of its value.

• NBA Team Valuations - Kurt Badenhausen, Michael K. Ozanian and Christina Settimi - Forbes
• The Business Of Basketball - Kurt Badenhausen and Michael K. Ozanian - Forbes
• Knicks Remain NBA’s Most Valuable as Economy Slows, Forbes Says - Mason Levinson - Bloomberg
• Knicks Still NBA's Most Valuable Team - AP
• As the value of the Nets declines, the pressure to build the Brooklyn arena must increase - Norman Oder - Atlantic Yards Report