Jan 23, 2013, 3:05 PM EDT
The New York Knicks and Los Angeles Lakers are each worth more than $1 billion dollars.
That is billion with a “B.”
They are the first NBA franchises to pass that mark, reports Forbes Magazine in its latest valuation of NBA franchises. The Knicks are worth $1.1 billion, the Lakers $1 billion even. The average NBA franchise is worth $509 million, up 30 percent from the year before, the magazine estimates.
Oh, and by the way, Kobe Bryant makes a lot of money — $59.8 million in salary and endorsements this year. The magazine also has released its list of highest earning players.
With the franchises, the Knicks move back into the top spot somewhat due to success on the court but mostly because of the $980 million renovation to Madison Square Garden. The renovation paved the way for more of the expensive, luxury seating and perks that drive team revenue. Because of that the value of the franchise jumped 41 percent in one year, according to Forbes.
By moving to Brooklyn and the new Barclays Center, the Nets value jumped 48 percent to $530 million. The lowest valued team? The Milwaukee Bucks at a “measly” $312 million.
As for players earnings, it’s Kobe Bryant, LeBron James and then everyone else.
Kobe tops the list with LeBron James second at $57.6 million. LeBron has more endorsement money coming in but his actual NBA salary is just more than $10 million less than Kobe’s $27.8 million.
Derrick Rose — he of the large Adidas contract — is third on the list at $32.4 million.
The rest of the top 10 is:
What each of those guys does is put butts in seats (even Gasol, although to a much lesser extent). Yes, they can score a lot (save maybe Stoudemire) but pay for an NBA player at the max is not just about on-court production as what he means for the bottom line of the franchise. While Kobe may be getting paid $27 million he’s worth probably three times that to the Lakers in terms of ticket sales, sponsorships and more.
May 22, 2015, 11:02 AM EDT
Consider it Riley’s revenge
May 22, 2015, 10:25 AM EDT
Is his injury more serious than previously thought?
May 22, 2015, 9:48 AM EDT
May 22, 2015, 9:10 AM EDT
Cavaliers will keep leaning on injured point guard – at least to some degree – anyway
May 22, 2015, 8:31 AM EDT
Barnes all but begged for the chance for a couple years.
May 22, 2015, 8:00 AM EDT
Stephen Curry and James Harden have been putting on a show for a couple games now.
May 22, 2015, 2:17 AM EDT
James Harden has been nothing short of brilliant for two games.
May 22, 2015, 12:06 AM EDT
Harden scores 38 points, just misses triple-double
May 21, 2015, 11:30 PM EDT
Donaghy was sent to prison for betting on NBA games while he was employed as a league official.
May 21, 2015, 10:30 PM EDT
Golden State was rolling early in Game 2.
May 21, 2015, 9:30 PM EDT
The seven-footer may be a top-five selection.
May 21, 2015, 8:30 PM EDT
Thomas is now running New York’s WNBA team, but many feel it’s just a matter of time before he’s back in some capacity with the Knicks.
LeBron James after tweaking his ankle by stepping on cameraman: ‘His foot was out further than it should be’
May 21, 2015, 7:30 PM EDT
Tough to tell, but either way, too many people are too close to the action.
May 21, 2015, 6:30 PM EDT
This is now a team without its two best wing defenders.
May 21, 2015, 5:47 PM EDT
The front office reacted like fans.
May 21, 2015, 4:59 PM EDT
If the NBA gave points for degree of difficulty, how much more valuable would he be?
May 21, 2015, 4:15 PM EDT
Evans should be good to go by the start of training camp next season.
May 21, 2015, 3:45 PM EDT
Lakers fans feel the basketball gods owed them after a few brutal years of injuries; fans of 29 other NBA teams would beg to differ.
May 21, 2015, 3:15 PM EDT
Gentry interviewed for the position on Monday.
May 21, 2015, 2:30 PM EDT
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