Forbes list of the most valuable NBA teams

Last updated December 12, 2024

Forbes compiles the finances of all 30 NBA teams to produce an annual ranking of the best franchises in terms of valuation. The valuations are composed of the monetary worth of the sport, market, stadium deals, and brand.^[1] These areas are supported by applying financial metrics such as debt and operating income to each one.^[2]

The latest ranking reported that the Golden State Warriors is the most valuable NBA franchise after the 2021–22 NBA season.^[3] The fastest growing NBA franchise is also the Toronto Raptors, with a 100% increase in valuation since the 2017–18 NBA season ($3.5 to $7 billion).^[1] The Warriors became the third NBA team to hold the title as the most valuable franchise since the launch of the ranking in the 1991–92 NBA season, with the other two being the Los Angeles Lakers and the New York Knicks.^[4]^[5]^[2]

Several media outlets have referenced in related news or conducts analytic journalism when the ranking comes out, such as The New York Times and Sports Illustrated.^[6]^[7] The NBA has consistently recognized the renditions of the ranking.^[8]^[9] The report has also applied more context to NBA trends, such as the financial impact of Ja Morant leveraging the Memphis Grizzlies into playoff relevancy.^[10] Financial trends in terms of 1-year increases have been more favorable for Memphis, most notably revenue after acquiring Ja Morant.^[11]

Ranking

Rankings as of October 27, 2022 (2021–22 NBA season)^[2]

Rank	Swing^[a]	Team	Territory	Value^[b]	Change^[c]	Debt^[d]	Revenue^[e]	Operating Income^[f]
1	2	Golden State Warriors	California	$7.7 billion	91.2%	13%	$800 million	$250 million
2	1	New York Knicks	New York	$6.6 billion	630.6%	62%	$278 million	$92 million
3	1	Los Angeles Lakers	California	$6.4 billion	59%	1%	$465 million	$115 million
4		Boston Celtics	Massachusetts	$4.7 billion	42.9%	5%	$361 million	$326.5 million
5	3	Los Angeles Clippers	California	$4.65 billion	77.3%	2%	$362 million	$12 million
6		Chicago Bulls	Illinois	$4.6 billion	41.4%	4%	$352 million	$135 million
7		Dallas Mavericks	Texas	$4.5 billion	46.7%	3%	$364 million	$143 million
8	2	Houston Rockets	Texas	$4.4 billion	39.1%	6%	$350 million	$113 million
9	6	Philadelphia 76ers	Pennsylvania	4.3 billion	90.9%	4%	$345 million	$87 million
10	2	Toronto Raptors	Ontario	$4.1 billion	100%	32%	$305 million	$75 million
11	4	Phoenix Suns	Arizona	$4 billion	80%	9%	$302 million	$87 million
12	2	Miami Heat	Florida	$3.9 billion	71.4%	14%	$326 million	$83 million
13	1	Brooklyn Nets	New York	$3.85 billion	48.9%	8%	$405 million	–$34 million
14	2	Washington Wizards	Washington, D.C.	$3.5 billion	61.3%	7%	$291 million	$90 million
15	1	Denver Nuggets	Colorado	$3.38 billion	40.4%	15%	$273 million	$67 million
16	7	Milwaukee Bucks	Wisconsin	$2.3 billion	70.4%	14%	$352 million	$51 million
17	2	Portland Trail Blazers	Oregon	$2.1 billion	31.3%	9%	$291 million	$81 million
18	8	Cleveland Cavaliers	Ohio	$2.05 billion	60.8%	11%	$325 million	$74 million
19	3	Sacramento Kings	California	$2.03 billion	28.9%	28%	$279 million	$29 million
20		Utah Jazz	Utah	$2.025 billion	42.1%	15%	$308 million	$58 million
21	7	San Antonio Spurs	Texas	$2 billion	23.1%	9%	$306 million	$99 million
22	3	Atlanta Hawks	Georgia	$1.975 billion	51.9%	13%	$282 million	$84 million
23	6	Oklahoma City Thunder	Oklahoma	$1.875 billion	27.1%	10%	$274 million	$129 million
24	2	Orlando Magic	Florida	$1.85 billion	39.65	11%	$272 million	$98 million
25	6	Indiana Pacers	Indiana	$1.8 billion	28.6%	14%	$264 million	$65 million
26	1	Charlotte Hornets	North Carolina	$1.7 billion	39.4%	12%	$269 million	$94 million
27	1	Minnesota Timberwolves	Minnesota	$1.67 billion	32.5%	14%	$271 million	$87 million
28	1	Memphis Grizzlies	Tennessee	$1.65 billion	37.5%	22%	$272 million	$107 million
29	1	New Orleans Pelicans	Louisiana	$1.6 billion	31.1%	14%	$268 million	$94 million

Composition

A pie chart that represents the composition of valuation for the average NBA team.

Sport (47.1%)

Market (28.7%)

Stadium (14.6%)

Brand (9.6%)

Team^[g]	Value^[b]	Sport^[h]	Market^[i]	Stadium^[j]	Brand^[k]
Golden State Warriors	$7.7 billion	$1.346 billion	$3.060 billion	$2.293 billion	$0.911 billion
New York Knicks	$6.1 billion	$1.354 billion	$2.821 billion	$1.062 billion	$0.863 billion
Los Angeles Lakers	$5.9 billion	$1.373 billion	$2.872 billion	$0.758 billion	$0.897 billion
Chicago Bulls	$4.1 billion	$1.444 billion	$1.437 billion	$0.765 billion	$0.454 billion
Boston Celtics	$4 billion	$1.353 billion	$1.475 billion	$0.665 billion	$0.506 billion
Los Angeles Clippers	$3.9 billion	$1.715 billion	$1.318 billion	$0.425 billion	$0.443 billion
Brooklyn Nets	$3.5 billion	$1.286 billion	$1.161 billion	$0.673 billion	$0.381 billion
Dallas Mavericks	$3.3 billion	$1.082 billion	$1.273 billion	$0.517 billion	$0.428 billion
Houston Rockets	$3.2 billion	$1.153 billion	$1.105 billion	$0.615 billion	$0.328 billion
Philadelphia 76ers	$3.15 billion	$1.234 billion	$1.029 billion	$0.497 billion	$0.390 billion
Toronto Raptors	$3.1 billion	$1.561 billion	$0.722 billion	$0.497 billion	$0.321 billion
Miami Heat	$3 billion	$1.199 billion	$1.020 billion	$0.457 billion	$0.324 billion
Phoenix Suns	$2.7 billion	$1.335 billion	$0.711 billion	$0.399 billion	$0.255 billion
Washington Wizards	$2.5 billion	$1.339 billion	$0.644 billion	$0.300 billion	$0.217 billion
Milwaukee Bucks	$2.3 billion	$0.970 billion	$0.680 billion	$0.414 billion	$0.237 billion
Portland Trail Blazers	$2.1 billion	$1.140 billion	$0.509 billion	$0.268 billion	$0.182 billion
Cleveland Cavaliers	$2.05 billion	$0.828 billion	$0.652 billion	$0.359 billion	$0.211 billion
Sacramento Kings	$2.03 billion	$0.964 billion	$0.535 billion	$0.324 billion	$0.206 billion
Utah Jazz	$2.025 billion	$1.070 billion	$0.496 billion	$0.302 billion	$0.157 billion
San Antonio Spurs	$2 billion	$0.996 billion	$0.527 billion	$0.339 billion	$0.138 billion
Atlanta Hawks	$1.975 billion	$1.120 billion	$0.448 billion	$0.237 billion	$0.170 billion
Denver Nuggets	$1.93 billion	$1.156 billion	$0.390 billion	$0.244 billion	$0.140 billion
Detroit Pistons	$1.9 billion	$1.113 billion	$0.473 billion	$0.174 billion	$0.140 billion
Oklahoma City Thunder	$1.875 billion	$1.111 billion	$0.408 billion	$0.215 billion	$0.142 billion
Orlando Magic	$1.85 billion	$1.110 billion	$0.402 billion	$0.203 billion	$0.135 billion
Indiana Pacers	$1.8 billion	$1.219 billion	$0.296 billion	$0.182 billion	$0.103 billion
Charlotte Hornets	$1.7 billion	$1.116 billion	$0.319 billion	$0.162 billion	$0.102 billion
Minnesota Timberwolves	$1.67 billion	$1.042 billion	$0.351 billion	$0.157 billion	$0.119 billion
Memphis Grizzlies	$1.65 billion	$1.028 billion	$0.357 billion	$0.155 billion	$0.110 billion
New Orleans Pelicans	$1.6 billion	$1.055 billion	$0.259 billion	$0.190 billion	$0.095 billion

Historical valuations

Historical valuations (in US$ millions) by NBA team^[g]
Team	2022–23	2021–22	2020–21	2019–20	2018–19	2017–18	2016–17	2015–16	2014–15	2013–14	2012–13
Golden State Warriors	7,700	7,000	5,600	4,700	4,300	3,500	3,100	2,600	1,900	1,300	750
New York Knicks	6,600	6,100	5,800	5,000	4,600	4,000	3,600	3,300	3,000	2,500	1,400
Los Angeles Lakers	6,400	5,900	5,500	4,600	4,400	3,700	3,300	3,000	2,700	2,600	1,400
Boston Celtics	4,700	4,000	3,550	3,200	3,100	2,800	2,500	2,200	2,100	1,700	875
Los Angeles Clippers	4,650	3,900	3,300	2,800	2,600	2,200	2,200	2,000	2,000	1,600	575
Chicago Bulls	4,600	4,100	3,650	3,300	3,200	2,900	2,600	2,500	2,300	2,000	1,000
Dallas Mavericks	4,500	3,300	2,700	2,500	2,400	2,300	1,900	1,500	1,400	1,200	765
Houston Rockets	4,400	3,200	2,750	2,500	2,500	2,300	2,200	1,700	1,500	1,300	775
Philadelphia 76ers	4,300	3,150	2,450	2,100	2,000	1,700	1,200	800	700	700	469
Toronto Raptors	4,100	3,100	2,475	2,200	2,100	1,700	1,400	1,100	980	920	520
Phoenix Suns	4,000	2,700	1,800	1,700	1,600	1,500	1,300	1,100	1,000	910	565
Miami Heat	3,900	3,000	2,300	2,000	2,000	1,800	1,700	1,400	1,300	1,200	770
Brooklyn Nets	3,850	3,500	3,200	2,700	2,500	2,400	2,300	1,800	1,700	1,500	780
Washington Wizards	3,500	2,500	1,925	1,800	1,800	1,600	1,400	1,000	960	900	485
Denver Nuggets	3,380	1,930	1,725	1,700	1,600	1,400	1,100	890	855	855	495
Cleveland Cavaliers	3,350	2,050	1,650	1,600	1,500	1,300	1,300	1,200	1,100	915	515
Sacramento Kings	3,330	2,030	2,000	1,800	1,800	1,600	1,400	1,100	925	800	550
Atlanta Hawks	3,330	1,975	1,680	1,500	1,500	1,300	1,200	885	825	825	425
San Antonio Spurs	3,250	2,000	1,980	1,900	1,800	1,600	1,600	1,200	1,200	1,000	660
Milwaukee Bucks	3,200	2,300	1,900	1,600	1,600	1,400	1,100	785	675	600	405
Utah Jazz	3,090	2,025	1,750	1,700	1,600	1,400	1,200	910	875	850	525
Portland Trail Blazers	3,080	2,100	2,050	1,900	1,900	1,600	1,300	1,100	975	940	587
Detroit Pistons	3,080	1,900	1,580	1,500	1,500	1,300	1,100	900	850	810	450
Oklahoma City Thunder	3,050	1,875	1,630	1,600	1,600	1,500	1,300	1,000	950	930	590
Charlotte Hornets	3,000	1,700	1,575	1,500	1,500	1,300	1,100	780	750	725	410
Orlando Magic	2,950	1,850	1,640	1,500	1,400	1,300	1,200	920	900	875	560
Indiana Pacers	2,900	1,800	1,670	1,600	1,500	1,400	1,200	880	840	830	475
New Orleans Pelicans	2,550	1,600	1,525	1,400	1,400	1,200	1,000	750	650	650	420
Minnesota Timberwolves	2,500	1,670	1,550	1,400	1,400	1,300	1,100	770	720	625	430
Memphis Grizzlies	2,400	1,650	1,500	1,300	1,300	1,200	1,000	790	780	750	453

Notes

↑ Movement of spots in the ranking from the 2017–18 NBA season to the 2021–22 NBA season.
1 2 Value of team (in USD) based on current stadium deal (unless new stadium is pending), without deduction for debt (other than stadium debt).
↑ Change of valuation from the 2016–17 NBA season to the 2020–21 NBA season.
↑ Expressed as the percentage of valuation that is debt. Includes stadium debt.
↑ Revenue in USD.
↑ Earnings (in USD) before interest, taxes, depreciation and amortization.
1 2 Financial data taken from each team profile on Forbes.
↑ Portion of franchise's value attributable to revenue shared among all teams.
↑ Portion of franchise's value attributable to its city and market size.
↑ Portion of franchise's value attributable to its arena.
↑ Portion of franchise's value attributable to its brand.

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References

1 2 "Golden State Warriors Profile". Forbes . Retrieved 3 November 2022.
1 2 3 "The NBA's Most Valuable Teams (2022–23)". Forbes . Retrieved 3 November 2022.
↑ "The Business of Basketball List". Forbes . Retrieved 3 November 2022.
↑ "How the $7 billion Warriors built the most valuable franchise in the NBA". San Francisco Chronicle. 27 October 2022. Retrieved 3 November 2022.
↑ "Warriors land at No. 1 on Forbes NBA team valuations list for first time". Yahoo!. 28 October 2022. Retrieved 3 November 2022.
↑ Deb, Sopan (23 November 2021). "Are the Knicks and Lakers Really Worth $5 Billion?". The New York Times . Retrieved 30 March 2022.
↑ "Where Do Mavs Rank Among Forbes' Most Valuable NBA Franchises?". Sports Illustrated. 19 October 2021. Retrieved 30 March 2022.
↑ "Forbes: NBA teams worth $2.12 billion on average". National Basketball Association . Retrieved 30 March 2022.
↑ "Forbes: NBA teams worth $1.9 billion on average". National Basketball Association . Retrieved 30 March 2022.
↑ "Red hot and blue: Sizzling Grizzlies and Morant net national attention, economic fortunes". American City Business Journals . Retrieved 30 March 2022.
↑ "Memphis Grizzlies Profile". Forbes . Retrieved 29 March 2022.

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[swing-12] Movement of spots in the ranking from the 2017–18 NBA season to the 2021–22 NBA season.

[value-13] 1 2 Value of team (in USD) based on current stadium deal (unless new stadium is pending), without deduction for debt (other than stadium debt).

[change-14] Change of valuation from the 2016–17 NBA season to the 2020–21 NBA season.

[debt-15] Expressed as the percentage of valuation that is debt. Includes stadium debt.

[revenue-16] Revenue in USD.

[income-17] Earnings (in USD) before interest, taxes, depreciation and amortization.

[team-18] 1 2 Financial data taken from each team profile on Forbes.

[sport-19] Portion of franchise's value attributable to revenue shared among all teams.

[market-20] Portion of franchise's value attributable to its city and market size.

[stadium-21] Portion of franchise's value attributable to its arena.

[brand-22] Portion of franchise's value attributable to its brand.

[GSW-1] 1 2 "Golden State Warriors Profile". Forbes . Retrieved 3 November 2022.

[ForbesNBA2021-22-2] 1 2 3 "The NBA's Most Valuable Teams (2022–23)". Forbes . Retrieved 3 November 2022.

[3] "The Business of Basketball List". Forbes . Retrieved 3 November 2022.

[4] "How the $7 billion Warriors built the most valuable franchise in the NBA". San Francisco Chronicle. 27 October 2022. Retrieved 3 November 2022.

[5] "Warriors land at No. 1 on Forbes NBA team valuations list for first time". Yahoo!. 28 October 2022. Retrieved 3 November 2022.

[6] Deb, Sopan (23 November 2021). "Are the Knicks and Lakers Really Worth $5 Billion?". The New York Times . Retrieved 30 March 2022.

[7] "Where Do Mavs Rank Among Forbes' Most Valuable NBA Franchises?". Sports Illustrated. 19 October 2021. Retrieved 30 March 2022.

[8] "Forbes: NBA teams worth $2.12 billion on average". National Basketball Association . Retrieved 30 March 2022.

[9] "Forbes: NBA teams worth $1.9 billion on average". National Basketball Association . Retrieved 30 March 2022.

[10] "Red hot and blue: Sizzling Grizzlies and Morant net national attention, economic fortunes". American City Business Journals . Retrieved 30 March 2022.

[11] "Memphis Grizzlies Profile". Forbes . Retrieved 29 March 2022.

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