NBA teams are continually increasing in value, with the leading team being three times as valuable as the leading team five years ago. The current most valuable team, the New York Knicks, is worth $4 billion. This is 13% higher ($1.9 billion more) than last year’s team.
However, you cannot tell the real wealth flowing into the NBA by only looking at the Knicks. The Charlotte Hornets, Brooklyn Nets, Portland Trail Blazers, and Dallas Mavericks have also signed amazing TV deals locally that mark a significant rise in their wealth meter.
The NBA Valuation As at 2019
The first noticeable wealthy move is the Milwaukee Bucks new arena worth $524 million. This will mean that the team can finally move out of the third oldest NBA building into their state of the art arena. The move opens doors for more sponsorship deals and several premium seat openings which means even more income for the franchise.
Another major financial move is the Minnesota Timberwolves $100 million renovations to their home. Atlanta Hawks have also announced a $193 million commencement of a similar project to their farm arena. More franchises are also making similar improvements which is evidently a way to attract more income in as much as a bit is being spent as well.
Who Is the Highest Gainer?
As of the end of the 2019 season, the Knicks had the worst record as they traded a home-grown star, Kristaps Porzingis. However, James Dolan, the team’s owner, is still recording great spins in the gold language. Golden State Warriors may not be the highest franchise, but they registered a 367% increase followed by the Los Angeles Clippers with an increase of 282% in value.
Such significant increases can be traced to a huge increase in ticket sales and billion-dollar TV contracts. This has made basketball to be recorded among the hottest games and the second most valuable game in Toronto especially in this season.