Page 24 - Forbes - USA (February 2018)

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SPORTSMONEY

THE NBA’S MOST
HIGHEST-EARNING
VALUABLE TEAMS
NBA PLAYERS
1. LEBRON JAMES
CLEVELAND CAVALIERS
THE AVERAGE pro basketball franchise is now worth $1.65
Earnings: $85.3M
billion, up 22% over last year and more than triple the figure Salary: $33.3M
of five years ago. Clubs have record operating profits, too—the Endorsements: $52M
2. STEPHEN CURRY
typical franchise earned $52 million, a 68% increase—as the GOLDEN STATE WARRIORS
league enjoys a new $24 billion TV deal with ESPN and TNT. Earnings: $76.7M
Salary: $34.7M
Endorsements: $42M
CURRENT
VALUE 1 1-YEAR REVENUE
($MIL) CHANGE % ($MIL)
9% $426
1 NEW YORK KNICKS $3,600
10 371
2 LOS ANGELES LAKERS 3,300
19 359
3 GOLDEN STATE WARRIORS 3,100
4 281
4 CHICAGO BULLS 2,600
14 257
5 BOSTON CELTICS 2,500
28 273
6 BROOKLYN NETS 2,300
3. KEVIN DURANT
GOLDEN STATE WARRIORS
33 296
7 HOUSTON ROCKETS 2,200
Earnings: $58M
Salary: $25M
7 257
8 LOS ANGELES CLIPPERS 2,150
Endorsements: $33M
31 233
9 DALLAS MAVERICKS 1,900
26 253
10 MIAMI HEAT 1,700
32 259 4. JAMES HARDEN
11 SAN ANTONIO SPURS 1,550 HOUSTON ROCKETS
24 250 Earnings: $48.3M
12 TORONTO RAPTORS 1,400 Salary: $28.3M
Endorsements: $20M
28 240
13 SACRAMENTO KINGS 1,375
35 222
14 WASHINGTON WIZARDS 1,350
5. RUSSELL WESTBROOK
OKLAHOMA CITY THUNDER
10 280
15 CLEVELAND CAVALIERS 1,325
Earnings: $47.5M
Salary: $28.5M
24 223
16 PORTLAND TRAIL BLAZERS 1,300 Endorsements: $19M
16 218
17 PHOENIX SUNS 1,280
22 222
18 OKLAHOMA CITY THUNDER 1,250
33 211
19 ORLANDO MAGIC 1,225
32 221
20 UTAH JAZZ 1,200
48 184
21 PHILADELPHIA 76ERS 1,180
34 205
22 INDIANA PACERS 1,175
30 209
23 ATLANTA HAWKS 1,150
26 202
24 DENVER NUGGETS 1,125
22 221
25 DETROIT PISTONS 1,100
37 179 TOP TO BOTTOM: JASON MILLER/GETTY IMAGES; JONATHAN BACHMAN/GETTY IMAGES; CHRIS SCHWEGLER/
26 MILWAUKEE BUCKS 1,075
A GREAT AMERICAN EXPORT
38 204
27 MINNESOTA TIMBERWOLVES 1,060 SPORTSMONEY BY KURT BADENHAUSEN, MICHAEL K. OZANIAN AND CHRISTINA SETTIMI
It’s not outrageous anymore to envision a sports world in which NBA NBAE/GETTY IMAGES; BOB LEVEY/GETTY IMAGES; JONATHAN BACHMAN/GETTY IMAGES
35 202 teams are worth more than their NFL counterparts. Investors believe
28 CHARLOTTE HORNETS 1,050
the NBA has far greater potential to grow overseas than the NFL,
30 206
which has struggled beyond the U.S. The average NFL franchise is
29 MEMPHIS GRIZZLIES 1,025
33 204 worth $2.5 billion, 52% more than the typical NBA team, but that
30 NEW ORLEANS PELICANS 1,000
spread has been more than halved in the past five years. The NBA
22 246
LEAGUE AVERAGE 1,652
is already selling at higher multiples: Recent deals for the Nets and
Revenue is for the 2016–2017 season and net of revenue sharing and arena debt
service. Rockets value the teams at roughly eight times their regular-season
1 Enterprise value (equity plus net debt) revenue; NFL franchises are worth closer to six times revenue.
22 | FORBES FEBRUARY 28, 2018