In today's big sports news: Serena Williams takes her anger out on her racket, Junior Seau's family sues the NFL, the most valuable NBA franchises, and the latest in the Manti Te'o affair.

Serena Williams was eliminated in a stunning upset yesterday at the Australian Open quarterfinals by fellow American Sloane Stephens, 3-6, 7-5, 6-4. Stephens is the first American younger than Williams ever to defeat her. [USA Today]

Former linebacker Junior Seau's family is suing the NFL. The wrongful-death lawsuit claims that his suicide was caused by damage inflicted upon his brain during his playing days. [ESPN]

The New York Knicks surpassed the Los Angeles Lakers as the NBA's most valuable franchise, coming in at a cool $1.1 billion. The average NBA team is worth $509 million, a 30 percent increase over last year. [Forbes]

Manti Te'o admitted to Katie Couric that he lied about his "girlfriend," who was revealed as a hoax last week, while insisting he had no role in propagating the hoax. The full interview will air on the 'Today' show Thursday morning. [Sports Illustrated]

And in Lance Armstrong news, the disgraced cyclist's books are apparently being moved to the Fiction section at the library. [GuySpeed]