Originally written on Waiting For Next Year  |  Last updated 1/24/13
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

Anthony Davis wants gold medal more than NBA MVP

Report: Ronda Rousey’s last fight topped 900,000 PPV buys

Rose issues statement denying sexual assault allegations

Giants’ rookie Tomlinson blasts a grand slam for first MLB home run

Coughlin treats training camp-weary Giants to ‘spa day’

Wilson: Comments about miracle water ‘perceived wrong’

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Ryan Mallett missed Texans practice after oversleeping

Report: Barry Bonds loses collusion case

Martavis Bryant reportedly failed multiple marijuana tests

Mortensen: Krafts called me to apologize amid Deflategate drama

Packers smart to sit Aaron Rodgers for rest of preseason

Is Rich Paul steering Tristan Thompson towards Toronto?

How the Chicago Cubs are swinging

WATCH: McElwain surprises six players with scholarships

LeBron James gives shout out to writer recovering from surgery

Frank Gore calls Andrew Luck ‘football God’

Eddie Royal joins the list of injured Bears receivers

Terry Stotts, Damian Lillard and the shapeless Trail Blazers

Jim Harbaugh thought phone call from Michael Jordan was a prank

The Buffalo Sabres have a 96% season ticket renewal rate

Karl-Anthony Towns is perfect for today's NBA

Serena’s grand slam bid prompts sell out of women’s US Open final

The Opening Drive: Utah alum Jordan Gross is fed up with the HarBros

In defense of Ryan Tannehill

Bowman: ‘Frustrating’ to lose Aldon Smith and Ahmad Brooks

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

How the Chicago Cubs are swinging

Report: Barry Bonds loses collusion case

Packers smart to sit Rodgers for rest of preseason

Towns is perfect for today's NBA

The Opening Drive: Utah alum Jordan Gross is fed up with the HarBros

Five greatest NBAers without a ring

Exactly how bad is the NL East?

Five potential college football Week 1 shockers

Top 10 storylines for Week 3 of the NFL preseason

Wilson’s ‘Recovery Water’ plug sends the wrong message

Today's Best Stuff
For Publishers
Company Info
Help
Follow Yardbarker