Jan 23, 2013, 3:05 PM EST
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.
Dec 19, 2014, 10:50 PM EST
There are a whole host of reasons Rondo was traded; this is just the most convenient for Boston’s brass.
Dec 19, 2014, 9:40 PM EST
Nice gesture by the players.
Dec 19, 2014, 8:30 PM EST
…pretty smoothly somehow
Dec 19, 2014, 7:25 PM EST
Leonard was the Finals MVP for San Antonio last season.
Dec 19, 2014, 6:45 PM EST
Warriors coach has jokes
Dec 19, 2014, 6:35 PM EST
This is the smart move by the Thunder.
Dec 19, 2014, 5:59 PM EST
It’s kind of moot now, but it’s not a surprise.
Dec 19, 2014, 5:15 PM EST
Lakers star: ‘If the opportunity came up, then that’s the time to have that discussion’
Dec 19, 2014, 4:29 PM EST
Black-and-white version of Toronto’s new logo looks similar to Brooklyn’s
Dec 19, 2014, 3:44 PM EST
President wants to see more athletes take political stands
Dec 19, 2014, 2:56 PM EST
This gives the Rockets a little more depth on the wing with Harden and Ariza.
Dec 19, 2014, 2:15 PM EST
Thunder star sprained ankle against Warriors
Dec 19, 2014, 1:40 PM EST
Miller starting against Nets in first game back from concussion
Dec 19, 2014, 1:04 PM EST
Sending Wright to the Celtics leaves major hole at backup center
Dec 19, 2014, 12:28 PM EST
Mark Cuban is too smart to pull the trigger on this kind of deal unless he has word he can keep his man.
Dec 19, 2014, 11:51 AM EST
Heat and Nets among teams that showed interest
Dec 19, 2014, 11:15 AM EST
Mavericks owner, one of many celebrities singing off Stephen Colbert, had his priorities in line
Dec 19, 2014, 10:15 AM EST
The Bulls are better off with their depth and flexibility.
Dec 19, 2014, 9:44 AM EST
Greek Freak makes diving steal again Kings
Dec 19, 2014, 9:08 AM EST
Warriors forward blows dunk, does everything else right in win over Thunder
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- Report: Celtics ‘pretty pleased’ with return they got in trade for Rajon Rondo 31
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- Reports: Celtics agree to trade Rajon Rondo to Dallas Mavericks 39
- Andrew Bogut undergoes PRP therapy on knee, out indefinitely 9