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Bobby Motus
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Thursday, March 16, 2017
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WITH very profitable television agreements, various income generating opportunities and a growing international market, the NBA is flowing with serious cash. Not only are the individual players getting the financial benefits but teams in general are benefitting. Where else can they be sourcing the funds for all those ridiculously obscene contracts but from the revenues collected.
According to the resourceful folks at Forbes, an average NBA team is worth $1.3 billion dollars. To put up a league-standard franchise, a powerful consortium of cash-flushed individuals or entities is to be realised. In ascending order, Forbes magazine listed the NBA’s top ten MVT for 2017. These are big market teams in big cities with big and loyal fan bases.
MIAMI HEAT – Bron and D-Wade took their talents out of South Beach yet the Heat last season still generated $210 million in revenues. Team owner Micky Arison is America’s 4th richest sports team owner with a net worth of $7.7 billion. His family also owns Carnival Cruise Lines. He invested huge in Miami’s pursuit of two league titles which made his team tenth on the MVT list with a value of $1.35 billion.
DALLAS MAVERICKS – With team owner Mark Cuban exactly answering to the true meaning of the word “maverick”, Dallas sits at number 9 on the MVT list worth $1.45 billion. Among the four major American sports teams, the Mavs have the longest active sell-out streak at 691 and counting. The fans packing the American Airlines Arena certainly helped upping the team’s value.
HOUSTON ROCKETS – The team’s new-found winning formula did help the lift-off. Of course, James Harden’s MVP numbers were a big factor. Valued at $1.65 billion, Houston is MVT’s number 8.
BROOKLYN NETS – So what if you’re playing to lose. It don’t matter for the Nets as they’re ranked 7th with a value of $1.8 billion. In a city that never sleeps, fans still crowd the Barclays Center and stay awake enduring the agony of the losses.
LA CLIPPERS – The other team from Los Angeles is worth $2 billion and is 6th on this list. They have America’s wealthiest sports team owner in the person of Steve Balmer. He was formerly CEO of Microsoft and is now the largest individual shareholder of the company, controlling 4 percent. Dropping $2 billion to take over the Clips is easy as he has a total net worth of $21.6 billion.
BOSTON CELTICS – One of the three tradition-rich franchises on this list, The Celtics are again back to respectability. Main man Isaiah Thomas is larger than his size and it keeps the revenue coming. The C’s ranks 5th on the MVT list worth $2.2 billion.
CHICAGO BULLS – Gone are the glory years of Michael Jordan and his support crew yet they have one of the league’s loyal fan bases averaging 21,800-plus paying patrons per game last season. The Bulls are currently worth $2.5 billion, MVT’s number 4. Impressive for a team more than two decades removed from basketball greatness.
GOLDEN STATE WARRIORS – The Terrible Three of Steph, Klay and Dray did wonders for the Warriors’ 2015 title run. T3 has now become Fantastic Four with the addition of Kevin Durant and their games generated the NBA’s highest average cable TV rating. The team’s value had increased by a league-high 37 percent that translate to a franchise worth $2.6 billion and a number 3 MVT spot.
LA LAKERS – Today’s Lakers could be a crappy team. Consider the pattern of winning one game then losing the next five or six games. Yet, they have a $1.7 billion sports market. Since 1984, the franchise has won 8 NBA championships, 12 conference titles, 15 division titles and has 10 former players on the Naismith Memorial Basketball Hall of Fame. The Laker brand alone is worth $595 million. Despite the previous three losing seasons, they still are one of America’s most successful teams with a 61.46 percentwinning percentage. Despite the current losses, the Staples Center is still 98.31 percent occupied every playing day. They were severely brutalised by Denver the other day but valued at $3 billion, they are 2nd on the MVT list.
NEW YORK KNICKS – It’s the New York state of mind. For the second straight year, the Knickerbockers are the NBA’s most valuable team at $3.3 billion. Like their Brooklyn neighbors, they’re playing terribly terrible but they have a healthy $1.7 million sports market similar to that of the Lakers. The Madison Square Garden is valued at $849 million and they have the league’s most loyal fans, filling MSG on average 99.3 percent each game night. Oh yeah, we want to be a part of it, it’s up to you New York, New York.
Eighteen of the NBA’s 30 teams are valued at $1 billion or more. Occupying the bottom are the New Orleans Pelicans. Forbes valued the Pelicans at $750 million. On the 29th to 26th are Minnesota ($770m), Charlotte ($780m), Milwaukee ($785m) and Memphis ($790m)./PN
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