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.
Jul 31, 2015, 5:46 PM EDT
Crabbe looked good in Las Vegas at Summer League.
Jul 31, 2015, 4:59 PM EDT
The Kings don’t really have the roster spot for him.
Jul 31, 2015, 4:11 PM EDT
Iowa Energy add Nicki Gross to coaching staff
Jul 31, 2015, 3:20 PM EDT
Will he accept the required tender?
Jul 31, 2015, 2:35 PM EDT
The Phil Jackson Effect
Jul 31, 2015, 1:58 PM EDT
Why does USA Basketball chairman make such a distinction?
Jul 31, 2015, 12:52 PM EDT
Johnson makes $24.9 million, but this is the last year of his contract.
Jul 31, 2015, 12:47 PM EDT
New York drafted Giannis Antetokounmpo’s brother last year
Jul 31, 2015, 10:23 AM EDT
No. 58 pick will reportedly head overseas or to D-League
Jul 31, 2015, 9:21 AM EDT
Guard didn’t show much in short stint in New York
Jul 31, 2015, 8:35 AM EDT
“One thing to come out of this will be more camps, more clinics, more games, more youth competition, and from that you get into infrastructure, and building more courts.” —Masai Ujiri, Raptors GM and native Nigerian
Jul 31, 2015, 7:59 AM EDT
“And the coin flip was as much about, is there going to be anything else that we could do? Because we knew we had to do something.” —Mark Cuban on trading for Rajon Rondo.
Jul 30, 2015, 11:30 PM EDT
Hoiberg has a much stronger offensive reputation than Tom Thibodeau.
Jul 30, 2015, 10:43 PM EDT
Portland received Mike Miller and two second-round picks in addition to Haywood.
Jul 30, 2015, 10:00 PM EDT
Lieberman would be the second female assistant coach, after Becky Hammon
Jul 30, 2015, 9:15 PM EDT
Scott was charged with possession of marijuana and MDMA.
Jul 30, 2015, 8:30 PM EDT
Smith says he was talking more about family stability than money in his controversial comments.
Jul 30, 2015, 7:45 PM EDT
Huestis spent last season in the D-League.
Jul 30, 2015, 7:06 PM EDT
Could Gregg Popovich take his place in 2020?
Jul 30, 2015, 5:40 PM EDT
In what will be the last year for Duncan and Manu Ginobili, not to mention David West’s long career, there will be plenty of desperation and energy in San Antonio.
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