According to Forbes, the average NBA team is worth $3.85 billion this season — up 35% from 2022 and higher by 75% from 2019.
For the Houston Rockets, owned by Tilman Fertitta, their $4.4-billion valuation in 2023 is up by 38% from a year ago and currently ranks No. 8 among the league’s 30 franchises. That figure is exactly double the $2.2-billion price that Fertitta paid upon buying the team from its former owner, Les Alexander, in October 2017.
Here’s how Forbes dissects the increasing values:
The surge in values was driven by the two sales of controlling stakes in NBA teams during the past 12 months—the Phoenix Suns sold for $4 billion to Matt and Justin Ishbia in February, and in August, Michael Jordan sold the Charlotte Hornets for $3 billion to Rick Schnall and Gabe Plotkin—as well as 25% of the Milwaukee Bucks at a $3.2 billion valuation by Jimmy and Dee Haslam in April.
The escalation in sale price multiples is due to the expectations over a major increase in media rights.
Going forward, Forbes believes future NBA expansion in desirable markets such as Las Vegas and Seattle could further bolster these valuations. The complete 2023 list, which is yet again headlined by the Golden State Warriors ($7.7 billion) at No. 1, is available here.
The Most Valuable NBA Teams 2023
The Golden State Warriors remain on top at a $7.7 billion valuation while two other teams are now worth more than $6 billion.
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— Forbes (@Forbes) October 27, 2023
