Is anyone willing to pay $11.33 billion to buy the Golden State Warriors franchise?
Sportico has once again done its annual assessment of what National Basketball Association franchises are worth. Of course a team is only worth as much as a potential owner is willing to shell out to buy a team. For what it is worth, the Golden State Warriors business is on top with a worth of $11.33 billion followed by the Los Angeles Lakers business which is worth $10 billion. James Dolan’s New York Knickerbockers business, which does not pay New York city property tax as Dolan’s team plays in the Dolan-owned Madison Square Garden on a piece of very valuable Manhattan property, his business is allegedly worth $9.85 billion followed by Steve Ballmer’s Los Angeles Clippers’ business, which just moved into a new venue, is worth $6.72 billion. In the fifth spot is the Boston Celtics business and NBA owners know exactly what the team is worth as it was recently sold for a reported $6.1 billion. Apparently Bill Chisholm got a break in buying the business as Sportico lists the business as being worth $6.35 billion dollars. NBA franchises in Brooklyn, Chicago and Miami are valued at more than six billion dollars. Businesses in Philadelphia, Houston, Dallas, Toronto, Phoenix, Atlanta and Sacramento come in at about five billion dollars or more.
The top valued teams are in the big markets. The NBA has two businesses with expiring leases in New Orleans and in Memphis. The Memphis Grizzlies ownership is in talks with Memphis political leaders about extending the business’s lease with the city to use the city-owned arena beyond 2029. There is a plan to spend around $550 million to renovate the Memphis arena that opened in 2005. The franchise is worth about $4 billion and is at the bottom of the league. Sportico thinks NBA teams are worth big dollars.
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The Lakers business is the second most valuable.
