Top Values of NBA Teams in 2024: Golden State Warriors, New York Knicks Head the Pack as Average Value Reaches $4.6 Billion
It's not just touchdowns and slam dunks that are hitting record highs in the sports world—the value of National Basketball Association (NBA) franchises is reaching new heights as well. The recent sale of the Miami Dolphins and Philadelphia Eagles for more than $8 billion each has the NFL sitting pretty, but the NBA isn't far behind.
With a solid economic model that includes cost certainty for each team and hefty annual league payments, it's no wonder the NBA is catching up. The average NBA franchise is now worth an impressive $4.6 billion, according to Sportico's calculations, with the Golden State Warriors leading the league ranking.
The Top Scores
The Golden State Warriors ($9.14 billion) have consistently ranked number one in every iteration of Sportico's NBA valuations. The team is closely followed by the New York Knicks ($8.3 billion) and Los Angeles Lakers ($8.07 billion). The Lakers, however, edge out the competition with a 42% increase over the fourth-ranked Brooklyn Nets ($5.7 billion).
Gaining Ground
Originally, the NBA wasn't quite at the NFL's level as far as economic power goes. But over the past 18 months, the league has made some key moves that have brought it closer to the football giant. First, a new collective bargaining agreement (CBA) potentially limits roster spending. Then came a new TV deal worth a staggering $77 billion over 11 years, which will triple annual payouts to franchises by the end of the agreement.
The massive increase in value is evident across all teams, with the lowest valued franchises seeing an impressive 127% jump since 2018. The Golden State Warriors are on top with a 15% increase over 2023, while the Memphis Grizzlies bring up the rear but still manage an 18% increase in value.
Arena Domination
Owning an NBA arena can boost a team's bottom line significantly. Julia Koch's recent investment of $6 billion to buy 15% of BSE Global, the parent company of the Brooklyn Nets, New York Liberty, and Barclays Center, is a testament to this. The Barclays Center gave the Nets an NBA-high 43% increase, ranking it the highest-grossing arena in the world in April 2024, according to Billboard.
The NBA's 30 teams collectively are worth an astounding $138 billion, when accounting for real estate owned by the owners and team-related investments like Women's National Basketball Association franchises.
Cashing In
With the live music industry booming post-pandemic, concert revenue can add $25 million to the earnings of top arenas. According to Billboard, NBA owners operated 10 of the world's 20 highest-grossing concert venues in 2024[1].
The Boston Celtics Sale Frenzy
The anticipated sale of the Boston Celtics is creating a buzz in the sports world. Estimated to be valued between $4.5 billion and $6.5 billion, the final price will offer insights into the worth of an elite brand without arena control, fresh off a championship[3]. The sale also sheds light on potential expansion in the NBA and what it might cost for a new team to join the league.
The Celtics' TD Garden revenue isn't as lucrative as other teams since they're tenants, but fan support remains strong. The team boasts one of the highest ticketing prices in the league and a season ticket waiting list of over 14,000 names[3].
As the sale unfolds, the value of the Celtics could impact NBA expansion, with speculation that an expansion fee could reach $5 billion per new team[3]. With two potential new markets—Las Vegas and Seattle—attracting attention[3], the future of the NBA is looking bright, as is the wallet of anyone investing in a dream team.
[1] Billboard[2] Sportico[3] MarketWatch[4] Chase Center[5] CCTV[6] Adam Silver[7] Patrick Dumont[8] Jon Stainer[9] Nielsen's global sports practice
- The media revenue from the NBA's new TV deal, worth $77 billion over 11 years, will potentially triple annual payouts to franchises by the end of the agreement, contributing to the NBA's rising values.
- Some NBA teams, like the Memphis Grizzlies, have seen an impressive 18% increase in value, with the lowest valued franchises experiencing a significant 127% jump since 2018.
- Ownership of NBA arenas can greatly bolster a team's financial standing, as demonstrated by Julia Koch's $6 billion investment in BSE Global, which owns the Brooklyn Nets, New York Liberty, and Barclays Center, making the Nets' arena the highest-grossing in the world in April 2024.
