The New York Knickerbockers, known familiarly as the Knicks, are a professional team based in New York City, and the most valuable franchise in the league, valued at $608 million. The organization was a founding member of the Basketball Association of America in 1946 and would join the NBA after the BAA and National Basketball League merged. The Knicks are one of only two teams of the original National Basketball Association still located in its original city (the other being the Boston Celtics). The team was originally known as the Knickerbockers, which it has retained as the official name, as reference to the synonymity between the term and New York City in the late 19th and early 20th centuries.