From New York to LA and Boston to the Bay, find out who wins top financial honors as the NBA’s top-valued franchise.
No investment is truly a sure thing. Foolproof. Set-it-and-forget-it. That’s just how it works. Buying into a franchise that plies its trade in the National Basketball Association, however, might just be the closest thing.
Even the worst of the COVID-19 pandemic couldn’t slow the NBA’s roll. Earlier this year, Mat Ishbia purchased the Phoenix Suns for $4 billion. Firms like RedBird and Arctos have keyed a private equity-feeding frenzy around the league to the point that even the big, bad NFL might just relent and play copycat.
So, that got us thinking: Who stands alone atop the mountain of NBA team valuations? This penthouse only has room for one, so are we talking LA? New York?
Well, thanks to a new Forbes report led by Mike Ozanian and Justin Teitelbaum, we have a new, gaudy snapshot of just how powerfully pro hoops franchises have evolved as investment assets — and who’s the biggest winner of all.
Check out the latest list of the most valuable NBA teams below.
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Most Valuable NBA Teams: The Top 10 of 2023
Numbers via Forbes’ Most Valuable NBA Teams report published Oct. 26, 2023. “YoY %” refers to a team valuation’s growth compared to Forbes’ 2022 report.
| TEAM | VALUATION | YoY % |
| 1. Golden State Warriors | $7.7B | +10% |
| 2. New York Knicks | $6.6B | +8% |
| 3. Los Angeles Lakers | $6.4B | +8% |
| 4. Boston Celtics | $4.7B | +18% |
| 5. Los Angeles Clippers | $4.65B | +19% |
| 6. Chicago Bulls | $4.6B | +12% |
| 7. Dallas Mavericks | $4.5B | +36% |
| 8. Houston Rockets | $4.4B | +38% |
| 9. Philadelphia 76ers | $4.3B | +37% |
| 10. Toronto Raptors | $4.1B | +32% |
Most Valuable NBA Franchises: 11-20
| 11. Phoenix Suns | $4B | +48% |
| 12. Miami Heat | $3.9B | +30% |
| 13. Brooklyn Nets | $3.85B | +10% |
| 14. Washington Wizards | $3.5B | +40% |
| 15. Denver Nuggets | $3.37B | +75% |
| 16. Cleveland Cavaliers | $3.35B | +63% |
| 17. Sacramento Kings | $3.33B | +64% |
| 18. Atlanta Hawks | $3.32B | +68% |
| 19. San Antonio Spurs | $3.25B | +63% |
| 20. Milwaukee Bucks | $3.2B | +39% |
Most Valuable NBA Teams: 21-30
| 21. Utah Jazz | $3.09B | +53% |
| 22. Portland Trail Blazers | $3.08B | +47% |
| 23. Detroit Pistons | $3.07B | +62% |
| 24. Oklahoma City Thunder | $3.05B | +63% |
| 25. Charlotte Hornets | $3B | +76% |
| 26. Orlando Magic | $2.95B | +59% |
| 27. Indiana Pacers | $2.9B | +61% |
| 28. New Orleans Pelicans | $2.55B | +59% |
| 29. Minnesota Timberwolves | $2.5B | +50% |
| 30. Memphis Grizzlies | $2.4B | +45% |
Additional NBA Team Valuation Facts
- The average NBA team is now worth just over $3.8 billion.
- The NBA expects to generate approximately $13 billion in revenue in 2023-24.
- Over 50% of NBA revenues in 2022-23 came from media deals.
- The Charlotte Hornets’ valuation experienced the largest year-over-year increase in the league — 76%. A group led by Rick Schnall and Gabe Plotkin purchased a controlling stake team from Michael Jordan in August.
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