By Rick Horrow and Karla Swatek
February 1, 2013
The average NBA franchise is worth $509 million, a 30% increase over last year’s valuations, according to an annual study done by Forbes. The increase in values is attributed to the league’s new labor deal, higher national TV revenues, and new and renovated arenas.
It’s a good time to be a NBA owner, as the new labor deal lowered the players’ share of a $5 billion revenue pie and nearly every team is playing in an arena less than 20 years old. It’s an even better time to be James Dolan and Jerry Buss, whose Knicks and Lakers teams are worth more than $1 billion.
As the Golden State Warriors prepare to build a new waterfront arena in San Francisco, and the Sacramento Kings are poised to sell for more than $500 million, the average team value will only continue to increase over the next handful of years.