NASCAR made several legal moves Thursday in hopes of preventing Michael Jordan-owned 23XI Racing and Front Row Motorsports from gaining ground in their high-profile antitrust dispute. NASCAR filed an emergency motion for a partial stay of an injunction U.S. District Judge Kenneth D. Bell issued Wednesday in favor of 23XI Racing and Front Row and requested he …
Boston Celtics Sale Document Casts Light on NBA Business Model
The Boston Celtics won their record 18th NBA title this year, one more than their longtime rival, the Los Angeles Lakers. Boston now has another record in its sights—the most expensive NBA team ever sold, and potentially the most expensive team across all sports. A document prepared for prospective buyers outlines what factors may go …
NBA Team Values 2024: Warriors, Knicks Lead as Average Hits $4.6B
The NFL flexed its financial muscles this month with several LP-stake sales at rich valuations, including more than $8 billion for both the Miami Dolphins and Philadelphia Eagles. The NFL checks two boxes that make it the envy of every other sports league: cost certainty for each team and a $400 million-plus annual check from …
Doc Rivers Wants Vegas Expansion—but NBA Cup Hasn’t Moved Needle
LAS VEGAS—The NBA Cup final is at T-Mobile Arena again Tuesday night with the Milwaukee Bucks playing the Oklahoma City Thunder in the tournament’s second edition. And despite Vegas once again putting its best foot forward as host—drawing an announced 35,050 for a split admission doubleheader on Saturday, up slightly from last year’s 34,854—the NBA …
NFL Ratings Growth Boosted by Streaming as Trad TV Numbers Slip
Despite all the mindshare-gobbling distractions of an election year and the ongoing erosion of TV usage, the NFL is on pace to put up its strongest ratings since 2015. And while the league’s stranglehold over our screens shows no sign of slackening, the season-long viewership boost may seem like a bit of a head-scratcher, as …
Whitecaps Owners Retain Goldman Sachs to Sell MLS Franchise
The Vancouver Whitecaps are for sale. The owners of the MLS team, a group that includes majority holder Greg Kerfoot, executive chair Jeff Mallett, Steve Luczo and former NBA star Steve Nash, said Friday they have retained Goldman Sachs to assist with the process. Sportico valued the club at $470 million back in January, which …
NBA Franchise Valuations Ranking List: From Warriors to Grizzlies
The average NBA team is worth $4.6 billion, according to data compiled by Sportico. The Golden State Warriors rank first at $9.14 billion, while the Memphis Grizzlies rank last at $3.06 billion. Below are the values of the league’s 30 franchises, which are collectively worth $138 billion.
To derive the market value of the 30 NBA franchises, Sportico calculated each team’s revenue relying on publicly available information and financial records—as well as interviews with those knowledgeable of team finances, including sports bankers and attorneys who actively work on NBA transactions. In the interest of accuracy, we traded candor for anonymity. This information was vetted by multiple owners, along with team or parent company CEOs, presidents, chief financial officers, media relations personnel, industry experts and investors. Below are definitions of some major metrics:
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Total Value: The sum of the market value of an NBA franchise combined with the value of team-related businesses and real estate holdings.
Team Value: NBA franchise valuation, derived from metrics by which basketball-team transactions occur, including aggregating local and national revenues and factoring in a team-specific multiplier. This represents the market value of the team itself, excluding related businesses held by its owners.
Team-Related Businesses and Real Estate Holdings: The value of a franchise or franchise owner’s equity in team-related businesses—that is, both those on the team’s balance sheet and held in distinct corporate entities—as well as government-assessed real estate related to venue, practice facilities and adjacent developments. Examples include: the Boston Celtics’ 20% interest in NBC Sports Boston, a regional sports network; and the Dallas Mavericks’ four subsidiaries, which own 11 parcels of land. Also included are WNBA franchises for the seven teams that share common ownership with an NBA club. For franchises that do not own their arenas, the value of a team’s lease—often with advantageous terms negotiated with municipal or state authorities—is captured in the Team Value category.
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Boras on Soto Deal: Deferred Money Wasn’t Going to Happen
The New York Mets introduced Juan Soto at a news conference on Thursday at his new place of employment in Queens, not too far from the Bronx where he spent last season starring for the New York Yankees. The four-time All-Star has officially joined the Mets after signing a record 15-year, $765 million deal. The …
Michael Jordan Blasts NASCAR for ‘Blaming Victims’ in Antitrust Suit
Michael Jordan-owned 23XI Racing and Front Row Motorsports insist in a new court filing Thursday that NASCAR is “blaming victims for asserting their antitrust rights” and that the two teams should be awarded an injunction against NASCAR. There’s a new audience for a case where brazen rhetoric by billionaire parties has become commonplace. On Wednesday, …
Ichiro Has My Baseball Hall of Fame Vote Despite Our History
My ballot: Ichiro Suzuki, CC Sabathia, Billy Wagner, Andy Pettitte, Chase Utley, Jimmy Rollins. The last time I interviewed Ichiro Suzuki was spring training of 2019 when he was trying to earn a roster spot on the Seattle Mariners. He was 45 and could no longer hit at the level of his halcyon days. The …
Sports Illustrated Licensee Renames Red Bulls’ MLS Stadium
Sports Illustrated owner Authentic has facilitated a 13-year naming rights agreement that will rebrand the New York Red Bulls’ home into Sports Illustrated Stadium, as the licensing company leverages the brand’s recognition beyond print and online publishing. The contract values the rights for the Harrison, N.J., venue in the nine figures (more than $100 million), …
BYU QB Jake Retzlaff Filed for ‘BYJew’ Trademark in NIL Push
Jake Retzlaff, the BYU quarterback who made waves with his new NIL deal with Jewish food brand Manischewitz, has filed to trademark his nickname, “BYJew.” The moniker, which he and his older brother Reggie came up with in celebration of being the first Jewish quarterback to ever play for the Mormon university, gained prominence beyond …
Yanks Pivot to Fried While Small Markets Worry Amid Soto Buzz
DALLAS – After word spread of Juan Soto’s record-breaking 15-year, $765 million agreement with the New York Mets on Sunday night, veteran manager Terry Francona echoed the feeling of many people at the Hilton Anatole, where Major League Baseball figures have congregated for the Winter Meetings. “I was shocked. My goodness,” said Francona, who is …
Saquon Barkley’s MVP Bid Elevates ‘Unicorn’ Marketing Status
Some elite athletes transcend their market with star power so bright that the jurisdiction has little bearing. Saquon Barkley is looking to be just that as he navigates the change of scenery from New York to Philly. A leading candidate in the NFL MVP race this season, the Philadelphia Eagles running back has looked beyond …
Sporticast 404: How to Talk About Juan Soto’s $765M Mets Contract
On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams discuss some of the biggest sports business stories of the week, including the New York Mets signing outfielder Juan Soto to a 15-year, $765 million contract. It is by far the largest contract in U.S. sports history by total dollars, and the largest per-year …