All 30 NBA franchises are each worth more than $1billion (£714million) for the first time ever, according to Forbes.
Topping the NBA rich list for the third year in succession are the New York Knicks, who are valued at a massive $3.6bn (£2.56bn) and the lowest valued team are the New Orleans Pelicans at $1bn (£714m).
The LA Lakers are in second place, valued at $3.3bn (£2.35bn), with the Golden State Warriors ($3.1bn; £2.2bn), Chicago Bulls ($2.6bn; £1.85bn) and Boston Celtics ($2.5bn; £1.78bn) making up the top five.
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Forbes' data reveals that the average NBA team value is $1.65bn (£1.17bn) - a 22% increase from last year and three times more than the average values of five years ago. ESPN reports that the nine-year US TV rights deal with ESPN/ABC and Turner is valued at $24bn (£1.7bn). Running until the 2024-2025 season, the TV package is a major reason for the increase in team values.
Compared to American football, a typical NBA team is worth 52% less than an NFL franchise, says Forbes writer Kurt Badenhausen, but the NBA has greater international growth potential.
Badenhausen said: “It’s not outrageous anymore to envision a sports world in which NBA teams are worth more than their NFL counterparts. Investors believe the NBA has far greater potential to grow overseas than the NFL, which has struggled beyond the United States. NBA revenue outside the US is growing at a rate in the high teens annually.”
Top ten NBA team valuations
- New York Knicks: $3.6 billion (£2.56bn)
- Los Angeles Lakers: $3.3bn (£2.35bn)
- Golden State Warriors: $3.1bn (£2.2bn)
- Chicago Bulls: $2.6bn (£1.85bn)
- Boston Celtics: $2.5bn (£1.78bn)
- Brooklyn Nets: $2.3bn (£1.63bn)
- Houston Rockets: $2.2bn (£1.56bn)
- Los Angeles Clippers: $2.15bn (£1.53bn)
- Dallas Mavericks: $1.9bn (£1.35bn)
- Miami Heat: $1.7bn (£1.2bn)
