Originally written on Waiting For Next Year  |  Last updated 11/18/14
Dan Gilbert’s Cleveland Cavaliers are reportedly worth $434 million. This report comes from the annual “Business of Baseketball” report issued by Forbes. The Cavaliers, per this amount, rank 16th among the 30 teams in the NBA. Their profit last season, determined by operating earnings (earnings before interest, taxes, depreciation and amortization), was $19 million. The Cavaliers went 21-45 during the 2011-12 season and saw attendance plummet 21 percent, to an average of just 15,900 per game at Quicken Loans Arena. It was the team’s second season since LeBron James left, but the first they could not use James to entice season ticket holders (James left the Cavs in July 2010 after fans already had purchased season tickets) which provided inflated figures for the 2010-11 campaign. Per Forbes, the average NBA team is worth $509 million, representing a 30 percent  increase over the 2011-12 season. The increase is reportedly due to higher revenue from television, new and renovated arenas, and the league’s new collective bargaining agreement, which reduced player costs from 57 percent of revenues to roughly 50 percent. The labor deal also increased the amount of money high-revenue teams provide low-revenue teams. The average operating income for the league’s 30 teams during the lockout-shortened 2011-12 season was $11.9 million, the most since Forbes began tracking the finances of NBA teams in 1998. The NBA’s record profitability last season was a function of the new CBA and player costs (owners’ biggest expense) being slashed 20 percent due to the 66-game season. For the 2012-13 season, the Cavaliers introduced a reconfigured scorer’s table intended to increase the amount of television exposure court-side advertisers get by at least 15 percent which should help boost revenue. [Related: Forbes: Cavs Turned Biggest Profit Ever During 2010-11 Season]
GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

USC AD skips meeting in Indiana: ‘I am the proud father of a gay son’

David Ortiz clarifies part of essay in The Players' Tribune

Hernandez reportedly 'swore' he wasn't involved in murder

Associated Press examining its use of the Redskins name

Urban Meyer discusses notion of running 2-QB system

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Report: Tiger Woods to practice at Augusta

Did Jerry Jones want enough cap room to add Peterson?

Phil Jackson issues message of hope to season ticket holders

Report: Heart attack prompted Armstead's retirement from Pats

MLBPA reacts to Kris Bryant's minor league assignment

Gregg Marshall's show canceled, Bama speculation grows

Jason Dufner, wife Amanda getting a divorce

Top 10 players in baseball

Top 20 players in the Final Four

Russell Wilson should sit until new deal is done

WATCH: Shaq rips Lakers, Clippers during Bieber roast

Can we envision the Atlanta Hawks in the NBA Finals?

Bettor to win $1M if Michigan State wins national title

Five NFL coaches already on the hot seat

WATCH: Stars' Patrik Nemeth catches puck inside visor

10 winners and losers from the past week in the NFL

University of California soccer player found dead

Joe Namath parties with twin 100 year-old women

NBA News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Top 20 players in the Final Four

Top 10 players in baseball

Report: Tiger's plane spotted in Augusta

Moss shares story on meeting Deion

Five coaches already on the hot seat

Can we envision the Hawks in the Finals?

10 winners and losers from the past week in the NFL

Namath parties with 100 yr-old women

Report: Shaka Smart talking to Texas

Rick Barnes to land at Tennessee?

Browns GM suspended for texts

Hernandez's fiancee disposed of box

Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.