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Warriors, Knicks, Lakers Top Latest NBA Franchise Valuations

December 13th, 2023 at 2:06pm CST by Luke Adams

The Warriors remain the NBA’s most valuable team, according to Kurt Badenhausen of Sportico (subscription required), who unveiled the website’s updated NBA franchise valuations for 2023 on Wednesday.

Badenhausen projects the Warriors’ value at $8.28 billion, making them one of three teams to surpass the $7 billion mark this year. The Knicks have a projected worth of $7.43 billion, while the Lakers come in at $7.34 billion, per Sportico.

As Badenhausen details, Sportico spoke to more than 30 team executives, owners, investors, bankers, consultants, and lawyers in compiling their latest NBA franchise valuations. According to Sportico, the average value of an NBA team is up 33% from a year ago and 70% from when the site first started publishing valuations three years ago.

A combination of factors are contributing to the soaring value of NBA franchises, says Baudenhausen. Those factors include national media deals, international opportunities, scarcity (ie. only 30 teams are available), and an equal 1/30th stake in the league.

In the past, we’ve used Forbes as our primary source for NBA franchise valuations, but with Badenhausen making the move from Forbes to Sportico in recent years and the outlet establishing itself as a go-to resource for sports business news, we’re highlighting Sportico’s projections in 2023.

Of course, it’s worth noting that figures from Sportico, Forbes, or any other media outlet are just estimates and often don’t quite match up with the sale prices for franchises that change hands. But thse projections are usually in the right ballpark and remain useful for getting a sense of the league’s most and least valuable teams.

Here’s Sportico’s full list of NBA franchise valuations for 2023:

Golden State Warriors: $8.28 billion
New York Knicks: $7.43 billion
Los Angeles Lakers: $7.34 billion
Boston Celtics: $5.12 billion
Chicago Bulls: $4.83 billion
Los Angeles Clippers: $4.56 billion
Miami Heat: $4.17 billion
Philadelphia 76ers: $4.13 billion
Toronto Raptors: $4.11 billion
Houston Rockets: $4.05 billion
Dallas Mavericks: $4.03 billion
Phoenix Suns: $4 billion
Brooklyn Nets: $3.98 billion
Sacramento Kings: $3.46 billion
Denver Nuggets: $3.4 billion
Atlanta Hawks: $3.35 billion
Washington Wizards: $3.33 billion
San Antonio Spurs: $3.29 billion
Portland Trail Blazers: $3.28 billion
Indiana Pacers: $3.27 billion
Utah Jazz: $3.24 billion
Cleveland Cavaliers: $3.22 billion
Milwaukee Bucks: $3.2 billion
Orlando Magic: $3.12 billion
Detroit Pistons: $3.1 billion
Oklahoma City Thunder: $3.08 billion
Charlotte Hornets: $3 billion
Minnesota Timberwolves: $2.94 billion
Memphis Grizzlies: $2.82 billion
New Orleans Pelicans: $2.72 billion

For the most part, the most significant valuation increases (by percentage) within the last year belonged to the teams on the bottom half of this list. Besides the Bucks, whose projection rose by 32%, every franchise in the bottom 10 received at least a 50% bump from Sportico’s 2022 valuations.

The Nuggets, who cracked the top half of this list following their 2023 championship, were another big riser — their valuation increased by 60% and they moved up six spots.

It’s worth noting that the Mavericks‘ reported valuation in Mark Cuban‘s sale to the Adelson and Dumont families reportedly came in around $3.5 billion, well below Sportico’s valuation.

However, more recent reporting has suggested the final valuation will be closer to $4 billion when the transaction closes. That was also a unique situation since Cuban is retaining control of basketball operations as part of the sale agreement, despite surrendering majority control of the business. He’ll hang onto about 25% of the franchise, according to Sportico.

Warriors Reportedly Offered Klay Thompson Two-Year Extension

December 13th, 2023 at 10:50am CST by Luke Adams

Before the regular season began, the Warriors offered Klay Thompson a two-year extension worth in the neighborhood of $48MM, Shams Charania of The Athletic said today on FanDuel’s Run it Back show (Twitter video link).

Thompson obviously passed on that offer, with multiple reports at the time suggesting that he and the Warriors were far apart on both years and money. He remains extension-eligible and could sign a new deal with Golden State at any time before he reaches free agency on July 1, but both Charania and ESPN’s Adrian Wojnarowski have indicated there’s a very real possibility he reaches the open market next summer.

Thompson is in the final season of a five-year, $190MM contract that is paying him $43.2MM in 2023/24. He missed two full seasons due to knee and Achilles injuries at the start of the contract and appeared in just 32 regular season games in 2021/22.

After a solid showing in ’22/23, Thompson’s numbers are down across the board in the first couple months of this season — he’s averaging 15.4 points per game on .397/.343/.889 shooting and has recorded roughly the same number of assists (44) and turnovers (43). His field goal percentage, three-point percentage, and turnover rate are career worsts and that scoring average is his lowest since his rookie season in 2011/12.

There has been a sense that Thompson’s contract situation may be weighing on him and factoring into his slow start to the season. Head coach Steve Kerr has been patient with the veteran sharpshooter, keeping him in the starting lineup for all 22 games he has played so far this fall. However, Kerr did hold Thompson – and fellow slumping veteran Andrew Wiggins – out of Tuesday’s closing lineup, as we detailed earlier today.

“I deserved to be benched tonight. I played like crap,” Thompson said after the game, per Anthony Slater of The Athletic. “If you’ve ever played basketball before, you know what you’re capable of. You always want to be out there competing. That’s just facts. Whatever though. It happens. I deserved to be benched. I’ve been playing like crap. Twenty games in. I haven’t caught a good rhythm.”

Another long-term, maximum-salary contract for Thompson was never a realistic expectation, but teammate Draymond Green – who, like Thompson, is 33 years old – received a four-year, $100MM commitment from Golden State over the summer. With that in mind, it’s perhaps not surprising that the five-time All-Star would view a two-year, $48MM offer as insufficient after averaging 21.9 PPG with a .412 3PT% last season.

Still, unless he’s able to turn things around this season and bust out of his slump, it’s hard to imagine the Warriors adding any more years or money to the preseason offer they made to Thompson.

For what it’s worth, Thompson has said he “absolutely” wants to spend the rest of his playing career in Golden State.

OKC Voters Approve Funding For New Thunder Arena

December 13th, 2023 at 9:39am CST by Luke Adams

Residents of Oklahoma City overwhelmingly approved a proposal to use taxpayer dollars to fund the majority of a new arena for the Thunder, according to reports from Joe Mussatto of The Oklahoman and Sean Murphy of The Associated Press.

The vote, which occurred on Tuesday, asked OKC residents whether or not to approve a 1% sales tax that would fund approximately $850MM of the arena project. According to the Oklahoma State Election Board, 71% of the respondents voted in favor of the plan.

Under the proposed deal, Thunder owner Clay Bennett will also contribute $50MM to the construction of the arena, which is expected to cost around $900MM.

An exact location for the new building has yet to be determined, though mayor David Holt said finalizing that detail will be “one of the first orders of business.” According to Mussatto, the most likely location is the land currently occupied by Prairie Surf Studios (the former home of the Cox Convention Center).

The hope is that the new arena will be ready for the 2029/30 season. The Thunder have committed to play in the building for at least 25 years, which means the franchise would remain in Oklahoma City through at least 2054.

Since moving from Seattle to Oklahoma City in 2008, the Thunder (formerly the SuperSonics) have played in the Paycom Center, which opened in 2002. OKC voters previously approved a sales tax to finance upgrades to that arena — that tax will remain in effect until April 1, 2028, which is when this newly approved tax will begin.

“A signature of the Oklahoma City Thunder, beyond the team’s success on the floor, has been their deep connection to their fans and their community,” NBA commissioner Adam Silver said in a statement (Twitter link via Joel Lorenzi of The Oklahoman). “This vote for a new arena is another example of that bond.

“We are grateful to the people of Oklahoma City for the confidence they have shown in both the Thunder and the NBA as we embark on a new era of global sports and entertainment.”

Wizards Announce Plan To Move From D.C. To Virginia

December 13th, 2023 at 8:16am CST by Luke Adams

Monumental Sports, the Ted Leonsis-led company that owns the Wizards, has formally announced a plan to move the team from D.C. to Alexandria, Virginia. The NHL’s Washington Capitals, which are also controlled by Monumental Sports, would be part of the move too.

Virginia state lawmakers voted on Monday to move forward with a proposal to build a new arena and “entertainment district” in Alexandria’s Potomac Yard neighborhood, according to a report from The Washington Post. The plan still requires approval from the full General Assembly and local officials.

According to today’s announcement, the goal is to have the arena completed and the Wizards and Capitals moved in for 2028.

“We are committed to providing world-class fan experiences while continuously evolving our teams, deepening community ties, and solidifying our role as leaders at the forefront of sports and technology,” Leonsis said in a statement. “The opportunity to expand to this 70-acre site in Virginia, neighboring industry-leading innovators, and a great academic partner, would enable us to further our creativity and achieve next-generation, leading work – all while keeping our fans and the community at the forefront of everything we do.”

Monumental Sports’ announcement and the Washington Post’s reporting indicates that the Virginia plan will be a public-private partnership, with money coming from both Leonsis and local taxpayers.

As Adrian Wojnarowski of ESPN notes, Washington, D.C. city officials have been making an effort to keep the Wizards in the downtown Capital One Arena, where the Wizards and Capitals have played since 1997. Leonsis has been seeking $600MM in public funds to renovate the arena; on Monday, mayor Muriel Bowser announced a new bill offering Monumental Sports $500MM in financing for that project.

“This proposal represents our best and final offer and is the next step in partnering with Monumental Sports to breathe new life and vibrancy into the neighborhood and to keep the Washington Wizards and the Washington Capitals where they belong — in Washington, DC,” Bowser said, per Wojnarowski.

However, it sounds like that bill may be in vain, as Leonsis’ priority now is to move forward with the new entertainment district in Alexandria. The proposed complex would feature a new arena, a practice facility for the Wizards, Monumental Sports & Entertainment’s corporate headquarters, a media studio for Monumental Sports Network, a performing arts venue, and an expanded esports facility.

Assuming the Virginia plan proceeds without any snags, Leonsis’ goal is to update Capital One Arena to be a flexible arena that could host between 10,000 and 20,000 people and would continue to host concerts, sports, and other events — it would also become the home arena for the WNBA’s Washington Mystics.

As Wojnarowski writes, Leonsis’ teams have the ability to exit their lease with Capital One Arena in 2027. The Alexandria plan calls for a Virginia stadium authority to own the proposed complex and lease it to Monumental Sports & Entertainment, according to The Washington Post’s report, which says Monumental would have a lease in excess of 30 years.

Spurs’ Charles Bassey Suffers Season-Ending ACL Injury

December 12th, 2023 at 4:46pm CST by Dana Gauruder

Spurs big man Charles Bassey has a torn left ACL and will miss the remainder of the season, ESPN’s Andrew Lopez tweets.

Bassey suffered the injury on Sunday while playing for San Antonio’s G League affiliate, the Austin Spurs. Bassey was averaging 3.3 points and 4.0 rebounds in 10.8 minutes per game with the NBA club in 19 appearances this season.

Bassey had been sent to the G League to get more playing time. His last NBA outing was Dec. 1, a 19-minute stint against New Orleans.

This isn’t the first major injury he’s suffered since joining the Spurs. His 2022/23 season was cut short in mid-March due to a non-displaced patella fracture.

Bassey, who played with Philadelphia in his rookie season, signed a four-year, $10.2MM contract with San Antonio in February. However, the final two years of the contract are not guaranteed. He’s making $2.6MM this season in the second year of the deal.

Bassey’s latest injury could open up more playing time for fellow reserve center Sandro Mamukelashvili.

Celtics Waive Two-Way Player Nathan Knight

December 12th, 2023 at 4:30pm CST by Dana Gauruder

Two-way player Nathan Knight has been waived by the Celtics, Jared Weiss of The Athletic tweets.

The 6’8” forward hasn’t appeared in any games this season. He came off the bench in 38 games last season for Minnesota.

Overall, he has appeared in 108 regular season games with the Hawks and Timberwolves, averaging 3.7 points and 2.0 rebounds in 7.8 minutes per game. The Wolves declined their team option on Knight during the offseason and didn’t issue a qualifying offer, making him an unrestricted free agent.

He signed with the Knicks but was waived during training camp. Knight was signed to one of Boston’s three two-way spots on Oct. 22.

Knight has seen action in 12 games with Boston’s G League affiliate in Maine, averaging 8.9 points and 8.3 rebounds in 22.9 minutes per game.

Boston now has one two-way spot open. Guard JD Davison and center Neemias Queta occupy the other two-way spots.

Matt Ryan Undergoes Procedure On Elbow, Out 6-8 Weeks

December 12th, 2023 at 3:32pm CST by Luke Adams

Pelicans sharpshooter Matt Ryan will remain sidelined until well into the new year, as the team announced today in a press release that he underwent an arthroscopy on Tuesday morning to remove loose bodies from his right elbow.

According to the Pelicans, Ryan’s timeline for a return to action is about six-to-eight weeks.

Ryan, who is on a two-way contract with New Orleans, got off to a hot start this season after being claimed off waivers from Minnesota at the end of the preseason. He averaged 9.3 points on .458/.471/.929 shooting in his first 13 games as a Pelican, logging 22.9 minutes per night.

However, Ryan sustained a calf strain on November 18, which sidelined him for the next couple weeks. Just when it appeared he might be nearing a return from that injury, he was affected by another ailment — on December 2, he started being listed on the injury report as out due to elbow soreness. That diagnosis was eventually updated to an elbow strain and now he has had to undergo a procedure to address the issue.

As a two-way player, Ryan wasn’t exactly an irreplaceable piece in the Pelicans’ rotation, but he was one of the team’s few reliable outside shooters and provided floor spacing, especially prior to Trey Murphy‘s season debut. As Christian Clark of NOLA.com observes (via Twitter), despite not having played for three-and-a-half weeks, Ryan still ranks second on the club in total three-pointers made this season, behind only rookie Jordan Hawkins.

Raptors Respond To Knicks As Legal Battle Continues

December 12th, 2023 at 10:00am CST by Luke Adams

While two Atlantic Division rivals competed on the court on Monday, their legal battle raged on off the court, with the Raptors responding to the claims made by the Knicks in a court filing last month, according to Baxter Holmes of ESPN.

To recap the events to date, the Knicks filed a lawsuit against the Raptors in August, alleging that former employee Ikechukwu Azotam illegally took confidential files with him when he was hired by Toronto. The Raptors called the suit a “baseless” PR stunt and sought to have it dismissed, insisting that commissioner Adam Silver – rather than the courts – should arbitrate the dispute between two NBA teams.

In November, the Knicks responded by questioning Silver’s impartiality due to his friendship with Raptors governor Larry Tanenbaum and contending that the courts should handle the case because the Knicks are seeking more than $10MM in damages, which is the maximum amount the league can penalize a team.

In Monday’s filing, according to Holmes, the Raptors accused the Knicks of dragging out the case for publicity and – for the first time – raised the possibility of filing a countersuit against the Knicks for defamatory public statements once this case is resolved. The Raptors also challenged New York’s claim that Silver is biased, insisting again that the NBA commissioner arbitrate the dispute.

“The NBA Commissioner is not biased and he is the best person to adjudicate this dispute because of his ability to identify what, if any, information is confidential and proprietary such that its misuse may harm a Member like the Knicks,” the Raptors wrote. “The Knicks’ aversion to his jurisdiction is simply because they know they will not like his determination. Although it is inevitable the Knicks’ claims will fail on the merits in any forum, this proceeding permits the Knicks to keep their allegations in the public media, causing harm to the Named Defendants.”

As Holmes details, the Raptors have maintained throughout the legal process that the information Azotam took with him to his new position wasn’t confidential and that head coach Darko Rajakovic and the Raptors never saw any of the Knicks’ trade secrets.

“Coach Rajakovic — with nearly 15 years’ experience as a head coach overseas and in the NBA’s G-League and another decade as an assistant coach in the NBA — never needed, wanted, or saw a single piece of Knicks’ proprietary information,” the Raptors said. “Nor did Azotam ever share any proprietary Knicks information. The Knicks would have learned this if had they accepted the Raptors’ offer to cooperate in an investigation instead of immediately filing this suit.”

If the Knicks were “genuinely concerned” about misuse of proprietary information, the Raptors stated in their filing, they would have accepted Toronto’s invitation to cooperate in a thorough investigation of the allegations rather than having “mired themselves in lengthy judicial proceedings.” The Raptors also argued on Monday that the Knicks’ claims of having incurred $10MM+ in damages hasn’t been substantiated in any way.

“To the contrary,” the Raptors wrote, “the Knicks have offered the Court no theory or measurement of damages whatsoever — because they have not been harmed but appear to have made this claim to generate press attention.”

According to Holmes, an MSG spokesperson responded to the Raptors’ repeated insistence on referring the dispute to Silver for adjudication by stating, “Hopefully the Court will make it clear that Toronto cannot escape the consequence of breaking the law by being a member of the NBA.”

As Holmes writes, legal experts have referred to the standoff between the Knicks and Raptors as virtually unprecedented, making it difficult to predict the outcome, though many of those experts have been skeptical about New York’s chances of winning the case.

On the court, the Knicks defeated the Raptors on Monday for a second time this month, pulling out a 136-130 home victory.

P.J. Tucker: I Feel Like I’ve Still Got A Lot To Contribute

December 12th, 2023 at 7:40am CST by Luke Adams

After Shams Charania of The Athletic reported on Monday that P.J. Tucker has expressed frustration with his current situation in Los Angeles, the Clippers forward publicly addressed the issue later in the day, speaking to Tomer Azarly of ClutchPoints about being removed from the team’s rotation.

Tucker, who was sent from Philadelphia to L.A. last month as part of the James Harden blockbuster, appeared in each of his first 12 games as a Clipper, but averaged just 14.4 minutes in those contests, which would be a career low. He has been held out of the club’s past six games, with rookie Kobe Brown taking his place in the rotation.

“I don’t have a role on this team right now,” Tucker said on Monday when asked if he’s OK with his current role. “I’m not playing. I’m out of the lineup. It was a decision that was made, and I’m living with it right now. But obviously, I feel like I still got a lot to contribute to a team to be able to win, whether that’s here or somewhere else.”

Asked if he’s prioritizing playing time or contending for a championship, Tucker said ideally he’d have “both,” pointing out that he has played big minutes for multiple title contenders – including the 2021 champion Bucks – in recent years.

“It’s got to be a healthy compromise. I know myself, my worth. I know what I bring,” he said. “I know what I’ve brought. I know what I can continue to bring. And with that, I want to be able to go to a good team that I can be able to help that.”

Charania’s reporting on Monday indicated that Tucker and the Clippers are discussing ways to either get him regular minutes in L.A. or send him to a new team, with multiple contenders said to be monitoring the situation. When Azarly asked Tucker whether he sees a role for himself with the Clippers, the 38-year-old initially replied, “It’s not there,” before acknowledging that “obviously” that could change down the line.

“Coming here, you try to figure out the best way possible to be able to do what you do,” Tucker said. “But, you know, like I said, sometimes you see it and it ain’t there. Sometimes you see it, but the team doesn’t see it the way you see it.”

While Tucker is considered a versatile defender, a hard-nosed competitor, and a locker room leader, his offensive production is essentially non-existent (4.8 PPG since the start of the 2020/21 season) and he’ll turn 39 in the spring. He’s also earning about $11MM this season, with a $11.54MM player option for 2024/25, so his contract likely won’t have positive value on the trade market, which could complicate any Clippers efforts to work out a deal.

Bulls, DeRozan “Far Apart” On Contract Extension

December 11th, 2023 at 8:16pm CST by Dana Gauruder

The Bulls and veteran wing DeMar DeRozan are far apart on a potential contract extension, according to Chris Haynes of Bleacher Report (video link).

DeRozan is in the final season of a three-year, $81.9MM contract. He’s making $28.6MM this season and will be an unrestricted free agent if he doesn’t ink an extension.

Chicago was in a similar situation with center Nikola Vucevic last season but wound up re-signing him to a three-year, $60MM deal just before free agency.

However, Haynes’ sources said it’s unlikely that will occur with DeRozan. A more probable scenario is that they’ll look to move him rather than risk losing their leading scorer without getting some assets back for him.

“I was told that if DeRozan and the Bulls, if they cannot reach a contract extension, it is pretty likely that the Bulls may look to move DeMar DeRozan at the trade deadline,” Haynes said. “I don’t think the Bulls want to be put in a situation where DeMar DeRozan can walk in free agency and they get nothing in return.”

Haynes stressed that the Bulls aren’t currently shopping DeRozan, who is averaging 21.8 points, 5.0 assists and 3.8 rebounds per night. His shooting averages are down, compared to the last two seasons.

He posted averages of 24.5 points, 5.1 assists and 4.6 rebounds last season while shooting 50.45 from the field. He’s made 44.2% of his field-goal attempts through Chicago’s first 21 games this season.

The Heat and Knicks are among the teams that have previously been named as destinations that would appeal to DeRozan. The Lakers have also been thrown into the mix as a possible suitor.

At the start of the season, DeRozan said he wasn’t the type of player who pushes for a trade: “I feel like I wouldn’t be able to lay down comfortably if I went somewhere and said, ‘(Expletive) trade me. I’m tired of this.’ That’s just not me. I’m going to compete, be the best version I can be and let it go from there.”