Jan 22, 2014, 1:27 PM EDT
A more favorable Collective Bargaining Agreement for the owners coupled with a crop of young stars increasing television ratings has been good for NBA owners.
Franchise valuations are up. Way up. Setting record levels up. Up 25 percent on average over a year ago up. The average team made a profit of $23.7 million.
And you wonder why the owners are so loyal to David Stern.
Those figures are from Forbes Magazine, which released its annual report on franchise values Wednesday. While the magazine’s assessment is admittedly somewhat flawed, until the NBA owners decide to open their books up to the public (good luck with that) this is the best we have.
At the top of the list money-making list is the New York Knicks, which in a renovated Madison Square Garden is worth a record $1.4 billion, according to Forbes. Because the renovated building is drawing in more money than expected, the Knicks had a league-record profit for the 2012-13 season of $96 million, the magazine estimates.
The Lakers are just half a step back of the Knicks in franchise value at $1.35 billion, reports Forbes, and the team turned a tidy $66 million profit, according to the magazine. The main reason for all the cash is the massive $3.6 billion local television deal they struck with Time Warner Cable.
The rest of the top 10 are the Chicago Bulls ($1 billion), the Boston Celtics ($875 million), the Brooklyn Nets ($780 million), the Houston Rockets ($775 million), the Miami Heat ($770 million), the Dallas Mavericks ($760 million), the Golden State Warriors ($750 million), and the San Antonio Spurs ($660 million).
The bottom five are the Minnesota Timberwolves ($430 million, and they operated at a $2.7 million loss last season according to Forbes), the Atlanta Hawks ($425 million), the New Orleans Pelicans ($420 million), the Charlotte Bobcats ($410 million), and the Milwaukee Bucks ($405 million).
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.
Jul 30, 2015, 4:49 PM EDT
Arenas suggests LeBron isn’t selfish enough.
Jul 30, 2015, 4:11 PM EDT
Spurs coach happily assigns credit
Jul 30, 2015, 3:25 PM EDT
Will Karl-Anthony Towns, Nikola Pekovic or Gorgui Dieng start beside him?
Jul 30, 2015, 2:33 PM EDT
Will he want it?
Jul 30, 2015, 1:48 PM EDT
Timberwolves apparently weren’t just going to trade Love for whatever they could get
Jul 30, 2015, 1:00 PM EDT
Suspending Patriots quarterback for a quarter of the season was bare minimum for Mavericks owner
Jul 30, 2015, 12:07 PM EDT
Jerry Colangelo said attendance was mandatory to be considered for 2016 Olympic team
Jul 30, 2015, 11:22 AM EDT
NBA commissioner confident Africa will get a preseason game
Jul 30, 2015, 10:31 AM EDT
Hawks wing says his leg and ankle feel better
Jul 30, 2015, 9:28 AM EDT
Philadelphia drafted Holmes in second round
Jul 30, 2015, 8:33 AM EDT
Barnes is a perfect fit in for the “grit and grind” style of the Grizzlies.
Jul 30, 2015, 8:00 AM EDT
Portland not making a call means they knew Aldridge was gone and it was time to rebuild.
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