The Miami Heat is valued at $1.35 billion with revenue estimated to be $210 million, according to Forbes’ latest NBA franchise valuations, which puts them at No. 10 in the league.

The Top 3 are the New York Knicks ($3.3B), Los Angeles Lakers ($3B) and the Golden State Warriors ($2.6B). Miami ranked ninth last year.

Micky Arison’s father, Ted, purchased the team for around $33 million in 1988, meaning the franchise is estimated to be worth nearly 41 times as much today. It’s a similar tale across the league for longtime owners and something to keep in mind the next time you hear chatter of teams “losing money” and needing to shed salary because of luxury tax implications.

What is interesting is the Cleveland Cavaliers are not in the Top 10, coming in just behind the Heat at No. 11 with a valuation of $1.2 billion. A big part of that is likely their market size in addition to having the league’s leading payroll.