NBA teams have reached new heights, as Forbes revealed in its rankings of the league’s most valuable teams. For the first time in NBA history, the league has three franchise teams worth more than $5 billion each.
The New York Knicks lead the way being worth $5.8 followed by the Golden State Warriors at $5.6 billion and Los Angeles Lakers at $ 5.5 billion. The Chicago Bulls ($3.65 billion) and the Boston Celtics ($3.55 billion) rounded out the top five on Forbes’ list.
Despite the COVID-19 pandemic that kept fans from attending games for most of the 2020-21 NBA season, the average team value rose 13% to $2.48 billion due to record sponsorship revenue and high expectations for the league’s next media rights deal.
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IEG estimates that the NBA made a record $1.46 billion in sponsorship revenue last season and will likely top that during the 2021-22 season, which tips off tonight.
The NBA is targeting $75 billion over nine years for its next set of broadcast deals, a significant jump from its current $24 billion in deals with Disney and WarnerMedia. Those agreements expire in 2025.
When the new broadcasting deals kick in, expect the NBA’s billionaire club to expanded.
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