Five years ago, Forbes named the Knicks the NBA’s most valuable team, appraising them at $655 million.
Now, that would barely top the last-place Pelicans.
Forbes released its latest valuations of NBA teams today, and the Knicks ($3 billion) overtook the Lakers ($2.7 billion) for the top spot. But, really, everyone wins – if you own a team.
Thanks to a Collective Bargaining Agreement that gives owners a larger share of the revenue and new national TV contracts, the value of NBA teams is skyrocketing.
Nearly half the league – 13 of 30 teams – is valued at at least $1 billion. Forbes has struggled to keep up with the soaring price of NBA teams, and most that have sold recently have gone for more than Forbes projected. I wouldn’t be surprised if an actual majority of teams could fetch $1 billion on the open market.
It’s important to remember these figures are only estimates based on limited external data. But they’re the best numbers we have and a pretty decent baseline.
You can bet the players union will look at this trend of surging team values during CBA negotiations. If any owners complain about not making enough profit, most have a simple solution: Sell and recoup millions – maybe even billions – more than you paid for it.
