NBA franchises are worth billions of dollars.
Sportico has once again done its annual assessment of what National Basketball Association franchises are worth. Of course, a team is only worth as much as a potential owner is willing to shell out to buy a team. Bob Iger and Josh Kushner have bought the Los Angeles Lakers franchise for a reported $12.5 billion. In Minnesota, Marc Stad bought the Timberwolves franchise for a reported $4.5 billion and Tom Dundon purchased the Portland Trail Blazers franchise for a reported $4.25 billion so there are some real numbers available to compare with Sportico’s figures. For what it is worth, the Golden State Warriors business is on top with a valuation of $14.5 billion followed by James Dolan’s New York Knickerbockers business and that is worth $12.8 billion. Dolan doesn’t pay New York City property taxes as Madison Square Garden is not on the city’s property tax roll. Most team-owned arenas are off municipal tax rolls. The Lakers franchise is third. Steve Ballmer’s Los Angeles Clippers’ business is in fourth place at $8.2 billion. In the fifth spot is the Chicago Bulls business and that team is valued at more than eight billion dollars,
The top valued teams are in the big markets. The NBA has two businesses with expiring leases in New Orleans and in Memphis and the two are at the bottom. The New Orleans ownership wants a renovated arena to stay in town. The Memphis Grizzlies ownership is in talks with Memphis political leaders about extending the business’s lease with the city to use the city-owned arena beyond 2029. There is a plan to spend around $550 million to renovate the Memphis arena that opened in 2005. The franchise is worth about $4.2 billion and is at the bottom of the league. Sportico thinks NBA teams are worth big dollars.
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