Found January 22, 2014 on Pass The Pill:
The NBA experienced an all-time high in revenue this past year For the second consecutive year the New York Knicks are the NBA’s most valuable franchise at a value of $1.4 billion. The second most valuable franchise belongs to the Los Angeles Lakers at $1.35 billion. Despite both franchises taken major steps back this season, both franchises increased record profits as the NBA is enjoying it’s best monetary stretch in their history. In fact, even teams that have lost money in previous seasons like the Charlotte Bobcats, Milwaukee Bucks and Memphis Grizzlies all turned a profit. Via Forbes: No team has benefited more than the New York Knicks. The NBA’s most valuable team for a second straight year, the Knicks are now worth $1.4 billion, up 27% from a year ago. A three-year, $1 billion renovation of Madison Square Garden pushed the Knicks’ revenue to $287 million, net of revenue sharing, last season. The Knicks’ average TV rating on the MSG Network was 3.1, up 71% from the previous season, as the team made the second round of the playoffs for the first time since 2000 (both the Knicks and MSG are owned by publicly traded Madison Square Garden Company). The playoff run and arena renovation helped the Knicks generate operating income (earnings before interest, taxes, depreciation and amortization) of $96 million–a record for an NBA franchise. Via Dime Magazine: Rounding out the billionaire’s club among NBA teams, are the Lakers, valued at $1.35 billion, and the Bulls, worth $1 billion after leading the league in attendance for the last four years without wasting much in payroll (ask Omer Asik). The Celtics ($845 million) and the Nets — following their move across two rivers to Brooklyn ($780 million) round out the top five. Forbes also estimates that the average franchise is now worth $634 million, which is up 25 percent from a year ago. Also, profits have doubled to an all-time high (not sure if inflation is figured into the equation) of $23.7 million in gross profit per team. The bottom five starts with the Timberwolves at No. 26 ($430 million), the Hawks at No. 27 ($425 million), the Pelicans ($420 million), the Bobcats ($410 million) and the woeful Milwaukee Bucks, who are worth the lowest, at just $405 million. The Bucks also have four “serious suitors” for the team, as current 78-year-old owner Herb Kohl tries to hang on to partial ownership without moving the team out of Milwaukee.
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