Source: Kevin C. Cox / Getty
As the NBA experiences what is probably a short-lived dry spell as far as television ratings go, reports place franchise values up almost sixfold over the past ten years.
“NBA franchise values continue to soar, up 14% in the past year to an average of $2.12 billion,” Forbes stated, adding “Compare that with an 11% annual increase for NFL teams and 8% in Major League Baseball, with average values of $2.86 billion and $1.78 billion, respectively.” “The NBA’s 30 teams generated a record $8.8 billion in revenue last season, up 10% over the previous year,” Forbes goes on to say. “It will be up again this season, with gate receipts projected to rise 8% overall. Revenue will also be helped by a new arena for Golden State and renovations to existing arenas in Boston, Cleveland, Philadelphia and Washington.”
As far as the highest grossing teams, the NY Knicks, Los Angeles Lakers, and Golden State Warriors hold the top spots, according to the report:
“By our scorecard, the moribund New York Knicks grab the top spot ($4.6 billion) for the fifth straight year, up 15%, followed by the Los Angeles Lakers ($4.4 billion) and the Golden State Warriors ($4.3 billion). These three teams have by far the highest revenue in the NBA. Only the Dallas Cowboys ($5.5 billion) are worth more than the Knicks among North American sports franchises, with the New York Yankees ($4.6 billion) the only other team ahead of the Lakers and the Warriors.”
Ironically enough, the Knicks are going through its seventh consecutive losing season. Click here to read the full report.
