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The Knicks’ playoff run that ended in a championship and parade is worth at least $380 million to New York City

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Catherina Gioino.

The Earth formed 4.5 billion years ago, the first Olympic Games were held in 776 B.C., James Naismith invented basketball in 1891, and the five boroughs of New York City were unified in 1898.

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When the team won titles in 1970 and 1973, then-Mayor John Lindsay passed on the downtown spectacle entirely. Thursday, the NYPD had announced that all viewing pens were full, more than two hours before the first float moved, with subway service suspended south of Canal Street to manage the crush. “The Knicks did not win for New York City,” he said. According to the New York City Economic Development Corporation, the Knicks’ post-season run generated an $380 million in economic activity during home games.

Read full article at Fortune Technology →

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