Forbes: NBA team values spike, outpace NFL, MLB in growth; Knicks lead the way
And people wonder why James Dolan doesn’t sell.
Forbes released its annual report on the value of NBA teams on Tuesday. Business is boomin’.
According to Forbes, the average value of an NBA team is up 14 percent year over year, a rate that outpaces growth of teams in the NFL (11 percent) and MLB (8 percent) in the same time period.
Since 2010, the average value of an NBA team has increased by 575.7 percent, almost double the rate of MLB teams (361.5 percent) and NFL teams (279.2 percent).
NBA has 3 of 5 most valuable U.S. sports teams
Three teams top the $4 billion value mark, led by the $4.6 billion New York Knicks, proving yet again that in business and in sports, incompetence doesn’t always suffer. Dolan’s NBA franchise is in the midst of a seventh straight losing season, but the cash keeps rolling in regardless.
The Los Angeles Lakers ($4.4 billion) and Golden State Warriors ($4.3 billion) join the Knicks in the $4 billion club. Together, they join the Dallas Cowboys and New York Yankees as the five most valuable teams in American sports, according to the report.
Everybody’s worth $1B
Every NBA team is valued at more than $1 billion, with the Memphis Grizzlies bringing up the rear with a $1.3 billion valuation. Other smaller-market teams like the New Orleans Pelicans, Minnesota Timberwolves, Orlando Magic, Cleveland Cavaliers and Charlotte Hornets join the Grizzlies in the bottom 10.
The average value of an NBA team is $2.12 billion, according to the report. That places the $2.4 billion Dallas Mavericks and $2.1 billion Toronto Raptors on either side of of the average.
What ratings dip?
The positive financial report comes on the heels of a brutal offseason that saw the NBA’s controversy in China amount to an international incident and lead into ratings drops as more of the league’s stars flocked to the West Coast and late-night tips.
While the ratings represent a short-term dip, these numbers point to a much larger, positive trend for the health of the league.
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