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.
Aug 27, 2015, 5:51 PM EDT
If you’re keeping score at home, there are two shattered backboards on the list.
Aug 27, 2015, 5:06 PM EDT
The Cavaliers need to be patient with him.
Aug 27, 2015, 4:25 PM EDT
Chocolate Thunder remained an ambassador of the game.
Aug 27, 2015, 3:31 PM EDT
He probably will land on a roster somewhere. Eventually.
Aug 27, 2015, 2:45 PM EDT
This is a blow to France, but they remain one of the deepest teams at EuroBasket and one of the favorites.
Aug 27, 2015, 1:54 PM EDT
Houston’s salary cap picture changed before the deal got inked.
Aug 27, 2015, 1:12 PM EDT
Gregg Popovich is considered the frontrunner.
Aug 27, 2015, 11:54 AM EDT
Stan Van Gundy wants to play Brandon Jennings and Stephen Jackson together at times.
Aug 27, 2015, 11:04 AM EDT
The Bulls comment is basically “no comment.”
Aug 27, 2015, 9:15 AM EDT
At this point in his career Davis is the “break glass in case of emergency” big.
Aug 27, 2015, 8:30 AM EDT
Wiggins is playing well for Canada.
Aug 27, 2015, 8:00 AM EDT
LeBron turned a $4.4 million profit.
Aug 27, 2015, 12:58 AM EDT
There is no criminal report filed in this case. Rose nor his attorney have yet to comment on the report or suit.
Aug 26, 2015, 11:25 PM EDT
Was there ever a more Shakespearean NBA drama than Shaq/Kobe?
Aug 26, 2015, 7:45 PM EDT
We’ve got video of Blake Griffin pretending to be in the Harlem Globetrotters.
Aug 26, 2015, 6:59 PM EDT
D’Angelo, just text Kobe and say you want to work out with him, he’ll likely text back to come over right now.
Aug 26, 2015, 5:55 PM EDT
The questions about Miami’s front line are not about skill but health.
Aug 26, 2015, 5:20 PM EDT
He will be ready to go at FIBA Americas next week.
Aug 26, 2015, 3:38 PM EDT
Tryouts in Deleware just got a lot more entertaining.
Aug 26, 2015, 2:49 PM EDT
You know Mark Cuban doesn’t love this.
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- After Rio Olympics next summer, who takes over at Team USA coach? 3
- Kobe, Shaq discuss regrets over feud that ended their Lakers era 44
- NBA fines Clippers for attempting to circumvent salary cap with DeAndre Jordan 10
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- Phil Jackson is optimistic about Knicks coming season, except the start 7
- Report: Lakers considering bringing back Metta World Peace 33