Sixers valued at an estimated $418 million

While the 76ers' fortunes have gone south on the basketball court, they are standouts on the ledger.

Valued at as the $314 million in 2011, the team's value took a precipitous jump last season, topping out at an estimated $418 million, according to a report in Forbes Magazine released Wednesday.

Forbes ranked the Sixers 20th on its valuation list of teams in 2012, up from its No. 22 rank in 2011.

When owner Joshua Harris brought the team in 2010 he paid $287 million for the franchise.

The Sixers saw their value in 2012 boosted by 19 percent increase in their first year under Harris.  The Sixers reached the second round of the playoffs for the first time since 2003.

Following the acquisition of center Andrew Bynum the Sixers reportedly doubled their season ticket base heading into what has thus far been a very disappointing season.

Despite a lockout that reduced the regular season to 66 games, the Forbes report indicated that the estimated average NBA team's value at $509 million, a 30 percent increase from the previous season.

The New York Knicks surpassed the Los Angeles Lakers as the most valuable team in the NBA, their value jumping 41 percent to bring their estimated value to $1.1 billion.  The Lakers were second at $1 billion.

The Chicago Bulls, Boston Celtics and Dallas Mavericks round out the top five.

The Milwaukee Bucks were the least valuable at $312 million.