Five years ago, Forbes named the Knicks the NBA’s most valuable team, appraising them at $655 million.
Now, that would barely top the last-place Pelicans.
Thanks to a healthier national economy, a Collective Bargaining Agreement that gives owners a larger share of the revenue and new national TV contracts, the value of NBA teams is skyrocketing.
Nearly half the league – 13 of 30 teams – is valued at at least $1 billion. Forbes has struggled to keep up with the soaring price of NBA teams, and most that have sold recently have gone for more than Forbes projected. I wouldn’t be surprised if an actual majority of teams could fetch $1 billion on the open market.
Here are the full rankings:
It’s important to remember these figures are only estimates based on limited external data. But they’re the best numbers we have and a pretty decent baseline.
You can bet the players union will look at this trend of surging team values during CBA negotiations. If any owners complain about not turning enough profit — a gripe in past negotiations, though not one brought up lately — most have a simple solution: Sell and recoup millions – maybe even billions – more than you paid for it.