The average NBA franchise is now worth $2.1 billion, up 14% and outpacing the gains of the NFL and MLB. The Knicks, Lakers and Warriors rank among the five most valuable U.S. sports teams, along with the Cowboys and Yankees.
to sell roughly 20% of the Charlotte Hornets to Gabe Plotkin and Daniel Sundheim. The agreement values the team at $1.5 billion, up from $175 million in 2010 when Jordan bought majority control of the club.
In addition, teams in New York and Los Angeles go for sky-high revenue multiples. Recall that Steve Ballmer paid 14 times revenue for the Los Angeles Clippers in 2014. Tsai paid 11 times revenue for the Nets. The revenue multiple Houston billionaire Tilman Fertitta paid for the Rockets in 2017 was a relatively cheap seven.
“This season’s NBA ratings story is silly. It is a small sample size. This is a year-round league with year-round stories,” says sports media consultant Lee Berke of LHB Sports. “The next NBA media agreements will be a substantially evolved set of deals because of streaming. There will be an increasing range of media companies that want the NBA for the U.S. and worldwide.” The current $2.
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