Thursday, January 21, 2016
Celtics are NBA's 4th most valuable team
According to Forbes magazine the Boston Celtics are currently ranked as the fourth most valuable team in the National Basketball Association.
The C's are estimated to be valued at $2.1 billon dollars, compared to 2015's $1.7 billion (also finished fourth). This is the second year in a row that the team sits as one of the top-five most valuable franchises in professional basketball.
The average value of an NBA team in 2016 is estimated at $1.25 billion dollars, an increase of 13-percent in the last 12 months. These team owners can thank media and sponsorship deals that are up 2-4 times the usual average annual value. Plus the new TV contract between the league and ESPN/Turner Networks ($930 million per season) is set to begin next year, it's a pretty good time to own an NBA franchise these days.
Take a look at the complete list below as the New York Knicks sit at number one as the most valuable team at a hefty $3 billion:
Clearly Wyc Grousbeck and Steve Pagliuca have made a great investment after purchasing the Celtics for $360 million back in 2002. Despite the current 'rebuilding' phase in the post Paul Pierce era, the C's are still very much a profitable organization to be a part of 14-years later.
Being ranked ninth in the league in merchandise sales doesn't hurt either even though no Celtics player is ranked among the top-15 in jersey sales:
1. Golden State Warriors
2. Chicago Bulls
3. Cleveland Cavaliers
4. Los Angeles Lakers
5. New York Knicks
6. San Antonio Spurs
7. Oklahoma City Thunder
8. Miami Heat
9. Boston Celtics
10. Los Angeles Clippers
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Photo used courtesy of the Associated Press
NBA teams values source: Forbes
NBA merchandise sales source: NBA.com