The New York Knicks are one of the founding members of the Basketball Association of America, the league that would later become the National Basketball Association. Playing in Madison Square Garden, the Knicks were once a perennial contender in the NBA, consistently reaching the playoffs and the NBA Finals in the 1950s. As the league expanded, the Knicks settled back into the pack but won championships in 1970 and 1973. The team is important beyond the hardwood, gaining pockets of fans across the world and helping the NBA in its plans to reach a more global audience. Today, the New York Knicks are worth an approximate $2.5 billion, making them the second-most valued franchise in the NBA.