Forbes.com has done their annual valuation for each NBA team, and currently they have the Brooklyn Nets valued at $1.5 billion, which is a 92 percent increase from this time last year. The sale of the Los Angeles Clippers for $2 billion certainly played a role in increasing the value of every NBA franchise this past year.
The valuation puts the Nets as the 6th most valuable NBA franchise, behind only the Clippers, Chicago Bulls, Boston Celtics, New York Knicks and Los Angeles Lakers, who come in at $2.6 billion. Each NBA team has seen their valuation increase over the past year, with the "cheapest" team being the Milwaukee Bucks, who are valued at $600 million.
Of note, the Nets also happen to be the only team in the NBA that has operating at a loss, at over $99 million. Still, that hasn't hurt the team's overall value, which with its move to Brooklyn has elevated the brand and made it a much more valuable franchise.
Separately, Forbes listed the net worth for the NBA's 20 billionaires. Mikhail Prokhorov was listed at $8.9 billion, almost $10 billion less than his net worth in 2010 when he bought interests in the team and arena. Blame the Russian economy for that.
The valuation does not include the arena, but having the team and arena owned by the same investors presumably helps the team value. Estimates of the arena value have been as high as $1 billion.
Recently, Bloomberg reported that Prokhorov -- who owns 80 percent of the team and 45 percent of the Barclays Center -- has listened to offers from prospective buyers interested in purchasing the team. Nothing is imminent, but you have to believe that with this most recent valuation Prokhorov may have some more serious conversation about selling at least some portion of his stake, which he paid $220 million dollars for.
And of course, those numbers could all go up and soon. The Hawks are on the block and are likely to fetch more than the $825 million value Forbes set for them. A billion dollar sale price for the Hawks would send valuations skyrocketing even more.
- NBA Team Values: The Business Of Basketball List - Forbes
- Brooklyn Nets on the Forbes NBA Team Valuations List - Kurt Badenhausen - Forbes
- Good news for Knicks! Forbes says team worth $2.5 billion - Mitch Abramson - New York Daily News
- Nets value skyrockets, even as they lose money; "trophy asset" should drive sales figure - Norman Oder - Atlantic Yards/Pacific Park Report