Dallas Mavericks owner Mark Cuban insists franchise valuation is too low

Dallas Mavericks owner Mark Cuban believes that the franchise is worth much more than the £460m suggested by Forbes' valuation earlier this week.

Forbes had the Mavericks eighth in its ranking of NBA team values, but Cuban insists that he would laugh at prospective buyers if they suggested that figure.

"I think we're worth well over a billion. I think within the next five years, and this is just a guess, every NBA franchise will be worth at least a billion dollars," he said, ESPN reports.

The New York Knicks topped the list with the Los Angeles Lakers and Chicago Bulls joining them as the only teams worth a billion or more.