The business of basketball is as strong as it's ever been, and MLSE is reaping the rewards.
Today Forbes released its annual list of NBA franchise values and the takeaway is that the league's owners are collectively cashing in. According to the piece by Kurt Badenhausen, the average NBA franchise is worth $634 million, up a whopping 25% over last year. The top of the list was dominated by three high-profile teams - the Knicks, Lakers and Bulls - all of which were valued at over $1 billion. The Bucks were the least valuable team at $405 million. Only four teams - the Sixers, Hawks, Timberwolves and Nets - lost money during the 2012-13 season.
Here are the highlights for our beloved Raptors:
- Forbes valued the team at $520 million, 18th overall. That represented a 28% jump over last year. The Leiweke/Ujiri Effect? Probably not, but either way the suits at MLSE must be happy.
- The team made a profit of nearly $29 million on $149 million of revenue. They were the 12th most profitable team in the NBA; imagine if they made the playoffs?
- Owning an NBA team is a pretty safe investment at the moment. Since Forbes began tracking the data in 2005, the team has increased in value by a robust 75% (from $297 million to $520 million).
If you're interested, here's a link to the Raptors' complete profile.