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Most Valuable NBA Teams of 2023-24: Who’s No. 1 at Almost $8 Billion?

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.

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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Media November 28, 2023

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