The NBA is in the midst of huge revenue growth from ever-increasing popularity and a new, massive television deal with ESPN and TNT.
According to Forbes and its list of most valuable franchises for 2017, the average NBA franchise is worth $1.36 billion. That’s a 378 percent increase from 2011, when the average franchise was worth $369 million. In total, 18 NBA franchises are worth at least $1 billion, with no team coming in under the $750 million mark.
The two teams that sit atop the NBA’s list of the most valuable franchises won’t surprise anyone that understands markets, but would surprise those that simply value wins and losses.
The New York Knicks might be a disaster on and off the court right now, but they still come in on top of the list with a valuation of $3.3 billion following a renovation of Madison Square Garden and a new local television deal that paid $100 million last season. The Knicks set an NBA record, according to Forbes, with a $141 million profit last season, even though the team went a dismal 32-50 and missed the playoffs.