When the news broke that the Maloofs had reached a deal to sell their controlling interest in the Kings to a Seattle group, the most stunning aspect was the value put on the team: a whopping $525 million.
Just two days later, Forbes magazine released its annual rankings of NBA teams' values. And, just like that, the Kings soared to No. 11 at, you guessed it, $525 million. The increase in value from a year earlier is an astonishing 75 percent, by far the highest of any of the 30 NBA teams. Forbes listed the Kings' revenue at $96 million and profit at $2.6 million, though the Maloofs reportedly have said they will lose $7 million this season.
The Thunder, which moved from Seattle to Oklahoma City in 2008, are No. 12, valued at $475 million (36 percent increase, $127 million in revenue, $29.9 million profit).
Topping the list is the New York Knicks at $1.1 billion, up 41 percent. According to Forbes, the Knicks made an $83.2 million profit on revenue of $243 million, nearly the same amount the Maloofs reportedly paid for their controlling interest in the Kings and the arena in 2002.
Rounding out the top five on Forbes' list are the Los Angeles Lakers ($1 billion), Chicago Bulls ($800 million), Boston Celtics ($730 million) and Dallas Mavericks ($685 million).
Even the Milwaukee Bucks, at the bottom of the list, are worth $312 million, up 16 percent. And the value of 29 of the 30 teams increased by double digit percentages, according to Forbes.
Now we really know why so many very, very rich people want to own NBA teams.
What to watch I
NBA, Oklahoma City at L.A. Lakers, 12:30 p.m., Ch. 10: It's a showdown of Western Conference powers. Oh, wait
What to watch II
NFL, Pro Bowl, 4 p.m., Ch. 3: If you really must get your NFL fix.
Where will you watch the Super Bowl?
Quietly at home
At my party
At a friend's party
At a sports bar
I won't watch it
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