The average NBA team is now worth $5.51 billion, up 20 percent year-over-year and 113 percent since 2022, according to Sportico’s calculations. The collective value of all 30 franchises reached $165 billion, driven by a landmark $76 billion media rights agreement and strategic arena investments.
Rick Welts, newly appointed Dallas Mavericks CEO, called the current moment unprecedented for league growth.
“Never had a moment like this where you could be as optimistic as I am,” Welts said in a video interview. “A lot of people are in this league, from an international perspective, from a media perspective, and I really feel like we have the best ahead of us.”
The Golden State Warriors maintained their five-year reign as the NBA’s most valuable franchise at $11.33 billion, second globally only to the NFL’s Dallas Cowboys at $12.8 billion. The Los Angeles Lakers jumped to second place at $10 billion after Mark Walter’s pending acquisition at 16 times revenue, surpassing the New York Knicks at $9.85 billion. The average value-to-revenue multiple for the NBA is 13.5, ahead of the WNBA at 12.0, the NFL at 10.3 and MLS at 9.4.
The Warriors’ dominance stems from arena ownership, sponsorship revenue nearly double any other team, and their WNBA affiliate, the Golden State Valkyries, valued at $500 million. The Valkyries made history as the first expansion team to qualify for the playoffs in their inaugural season.
The new media contract with Amazon, ESPN/ABC and NBC raises each team’s annual television revenue from $103 million to $143 million, with seven-percent annual increases through 2036. The “get-in” price for franchise ownership-represented by the Memphis Grizzlies at $4 billion-has jumped 2.5 times since 2022, when it stood at $1.63 billion.
Recent high-profile sales drove valuations across the board. The Boston Celtics sold for $6.1 billion in March, while the Lakers’ pending deal at $10 billion set a new record for control sales in sports history. The Portland Trail Blazers agreement at $4.25 billion followed in August.
The NBA is pursuing expansion in Europe in partnership with FIBA, potentially launching 16 teams with a fall 2027 tipoff. The league also plans to develop a Basketball Africa League with 12 teams and dedicated home arenas. Welts emphasized international opportunities as transformational for league economics.
“The international opportunity is multiple of what the domestic U.S. sports market is,” Welts said. “The technology will allow anybody, anywhere in the world to consume any NBA game.”
New arenas are under construction in Oklahoma City ($900 million, opening 2028) and Philadelphia (2030), with the Dallas Mavericks scouting sites following 24 years at the shared American Airlines Center.
2025 NBA Team Valuations
| Rank | Team | 2025 Valuation | 1-Year Change |
|---|---|---|---|
| 1 | Golden State Warriors | $11.33B | +24% |
| 2 | Los Angeles Lakers | $10B | +24% |
| 3 | New York Knicks | $9.85B | +19% |
| 4 | Los Angeles Clippers | $6.72B | +18% |
| 5 | Boston Celtics | $6.35B | +12% |
| 6 | Brooklyn Nets | $6.22B | +9% |
| 7 | Chicago Bulls | $6.12B | +10% |
| 8 | Miami Heat | $6.03B | +21% |
| 9 | Philadelphia 76ers | $5.61B | +23% |
| 10 | Houston Rockets | $5.53B | +16% |
| 11 | Dallas Mavericks | $5.24B | +17% |
| 12 | Toronto Raptors | $5.22B | +12% |
| 13 | Phoenix Suns | $5.09B | +18% |
| 14 | Atlanta Hawks | $5.02B | +23% |
| 15 | Sacramento Kings | $5B | +22% |
| 16 | Cleveland Cavaliers | $4.86B | +23% |
| 17 | Denver Nuggets | $4.8B | +18% |
| 18 | Washington Wizards | $4.78B | +20% |
| 19 | Indiana Pacers | $4.76B | +27% |
| 20 | Milwaukee Bucks | $4.54B | +16% |
| 21 | San Antonio Spurs | $4.5B | +19% |
| 22 | Oklahoma City Thunder | $4.34B | +22% |
| 23 | Utah Jazz | $4.27B | +16% |
| 24 | Portland Trail Blazers | $4.25B | +18% |
| 25 | Minnesota Timberwolves | $4.24B | +29% |
| 26 | Orlando Magic | $4.21B | +22% |
| 27 | Detroit Pistons | $4.17B | +21% |
| 28 | Charlotte Hornets | $4.13B | +22% |
| 29 | New Orleans Pelicans | $4.02B | +30% |
| 30 | Memphis Grizzlies | $4B | +31% |