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Changing Of The Guard
Team | Value | YOY |
---|---|---|
Los Angeles Lakers | $2.6B | +93% |
New York Knicks | $2.5B | +79% |
Chicago Bulls | $2.0B | +100% |
Boston Celtics | $1.7B | +94% |
Los Angeles Clippers | $1.6B | +178% |
Brooklyn Nets | $1.5B | +92% |
Golden St. Warriors | $1.3B | +73% |
Houston Rockets | $1.25B | +61% |
Miami Heat | $1.175B | +53% |
Dallas Mavericks | $1.15B | +50% |
>>League average: $1.106B | ||
>>Source: Forbes magazine |
Boosted by Steve Ballmer's league-record $2 billion purchase of the Los Angeles Clippers, the franchise values of NBA teams rose an average of 72 percent in one year, according to new estimates released by Forbes on Wednesday.
That's the biggest one-year value gain since Forbes started estimating team prices in 1998.
Last year's list only had three teams -- the New York Knicks, the Los Angeles Lakers and the Chicago Bulls worth more than $1 billion, but this year, Forbes says those three teams are worth at least $2 billion.
The magazine says the Lakers top the league at a $2.6B valuation, followed by the Knicks ($2.5B) and the Bulls ($2B). Even though Ballmer paid $2 billion for the Clippers, Forbes values the team at $1.6 billion, fifth among teams immediately following the fourth-ranked Boston Celtics ($1.7B).
Eleven teams are now worth more than $1 billion, according to Forbes, including Mark Cuban's Dallas Mavericks. Last year, when Forbes valued his team at $765 million, he called it "way too low," saying that his basketball asset was worth more than $1 billion.
The Brooklyn Nets and the Atlanta Hawks -- two teams that are on the market -- are worth $1.5 billion and $825 million respectively.
Michael Jordan hasn't had an easy road as owner of Charlotte's NBA team, but the former great certainly is in a good position financially. What he paid $275 million for five years ago is now worth $725 million, according to Forbes.
Another team that has struggled on the court has also seen its value rise significantly. Josh Harris and his partners paid $280 million less than four years ago for the Philadelphia 76ers. Under his ownership, the team has gone 96-175 (.354), but Forbes said the team is now worth $420 million more than Harris paid for it.
In October, the league announced new television deals with ESPN and Turner that are worth $2.66 billion a year. That's a 186 percent increase from current TV rights deal which averages $930 million a year.
http://espn.go.com/nba/story/_/id/12204869/forbes-reports-11-nba-teams-now-worth-1b
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