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.
Sep 23, 2014, 10:30 PM EDT
No deal yet, but training camp is less than a week away, so both sides are motivated to expedite the process.
Sep 23, 2014, 8:02 PM EDT
Memphis is the latest team to try to salvage the former second overall pick in the 2008 draft.
Sep 23, 2014, 7:32 PM EDT
Not bad, but very Hawks-like.
Sep 23, 2014, 6:31 PM EDT
Kobe Bryant, Derrick Rose among the more intriguing names on the list.
Sep 23, 2014, 5:29 PM EDT
What is Ricky Rubio worth on the open market.
Sep 23, 2014, 4:16 PM EDT
It’s a play off what Seattle and Denver have done before.
Sep 23, 2014, 3:29 PM EDT
Danny Ainge has done a good job with keeping his options open.
Sep 23, 2014, 2:38 PM EDT
Adam Silver also says league isn’t looking into owners’ pasts
Sep 23, 2014, 2:02 PM EDT
Pierce signed for mid-level exception with Wizards
Sep 23, 2014, 1:26 PM EDT
James reportedly received guaranteed contract
Sep 23, 2014, 12:50 PM EDT
Not a lot of people will see the building from above, and it’s early in the process, but…. that’s not pretty.
Sep 23, 2014, 12:15 PM EDT
The many times Toronto and Kyle Lowry could have blown it with each other
Sep 23, 2014, 11:38 AM EDT
He’s already the best midrange shooter in the game.
Sep 23, 2014, 11:00 AM EDT
Heat guard getting style from fictional Miami serial killer
Sep 23, 2014, 10:00 AM EDT
Pacers ready for season without Paul George, Lance Stephenson
Sep 23, 2014, 9:30 AM EDT
Lamb, after playing for Bucks and Magic, likely to fall out of NBA following training camp
Sep 23, 2014, 9:00 AM EDT
Reed, previously a member of Kings and Grizzlies, in line to compete for roster spot
Sep 23, 2014, 8:30 AM EDT
He’s better than Charles Barkley already at this.
NBA’s rookie transition program presents information in a compelling way in order to promote real discussion
Sep 23, 2014, 8:00 AM EDT
Initially uncomfortable information is presented in order to create a dialogue on real-life scenarios, which helps prepare rookies for their initial steps into the NBA life.
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