The only thing moving faster than decreasing gas prices has to be the increase in NBA franchise values. Each time Forbes ranks NBA teams, it’s amazing at how far #1 has grown when compared to the previous ranking.
When the Clippers were sold to Steve Ballmer, everyone fell out of their collective chairs at the $2 billion price tag. But that’s the going rate for teams in major markets these days.
According to Forbes, the Knicks have surpassed the Lakers and are worth $3 billion. Can you just imagine if they were a perennial contender? What would the value be then. Here’s the top five
Knicks: $3 billion
Lakers: $2.7 billion
Bulls: $2.3 billion
Celtics: $2.1 billion
Clippers: $ 2 billion
The result: The average NBA franchise is now worth $1.25 billion, up 13% over last year on the heels of a 74% gain the previous year after the national media deals were completed.
The New York Knicks reclaim the top spot from the Los Angeles Lakers after a one-year hiatus, thanks to a new cable deal and the highest premium-seating revenue in the league at almost $90 million. The split of the media and sports assets of Madison Square Garden Company in September precipitated a new media rights deal for the Knicks with the MSG regional sports network.
H/T: Forbes
