Washington Wizards Rumors | Hoops Rumors

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.

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.

Bilal Coulibaly Studying Film Of Kyle Kuzma

December 10th, 2023 at 1:05pm CST by Arthur Hill

Wizards rookie Bilal Coulibaly studies a lot of game film to see where he can improve, and he concentrates on Kyle Kuzma as much as himself, according to Chase Hughes of Monumental Sports. “I watch the whole game to see how he plays. There’s a lot to take,” Coulibaly said of his teammate. “He’s been talking to me a lot about eventually going through the guy when going up for the layup. He’s got some great advice for me.”

Wizards Sign Jules Bernard To Two-Way Contract

December 8th, 2023 at 10:08am CST by Luke Adams

10:08am: The Wizards have officially signed Bernard to a two-way deal, the team announced today in a press release.

8:30am: The Wizards, who are opening up a two-way contract slot by waiving big man John Butler Jr., intend to use that open spot to sign guard Jules Bernard to a two-way deal, reports Josh Robbins of The Athletic (Twitter link).

An undrafted rookie out of UCLA in 2022, Bernard played for the Capital City Go-Go, Washington’s G League affiliate, in his first professional season. In 49 games for the Go-Go in 2022/23, he averaged 13.6 points, 4.7 rebounds, and 2.2 assists in 26.1 minutes per night, posting a shooting line of .425/.324/.805.

The 6’7″ shooting guard, who signed an Exhibit 10 contract with the Wizards prior to training camp and then returned to the Go-Go to open the ’23/24 season, has taken a significant step forward in the early going. Through eight Showcase Cup contests in the NBAGL this fall, Bernard has raised his averages to 21.0 PPG, 7.8 RPG, and 4.3 APG on .475/.422/.914 shooting, earning a call-up to Washington’s 18-man NBA roster.

A player on a full-season two-way deal in 2023/24 is eligible to appear in up to 50 regular season games and earn a salary of $559,782. However, because Bernard is signing during the season, those amounts will be prorated.

Assuming he officially finalizes a deal with Washington on Friday, Bernard will be eligible to play in up to 37 NBA games. He’ll make $415,011 if he remains under contract through the NBA’s league-wide salary guarantee date in January.

Eugene Omoruyi and Jared Butler are the other two Wizards players on two-way deals.

Wizards Waive John Butler Jr.

December 8th, 2023 at 10:07am CST by Rory Maher

DECEMBER 8: Butler has officially been waived, the Wizards confirmed today. As we outlined in a separate story, Jules Bernard has filled the two-way opening created by Butler’s release.

DECEMBER 7: The Wizards are waiving forward/center John Butler Jr., a league source tells Josh Robbins of The Athletic (Twitter link). Butler is on a two-way deal with Washington.

According to Robbins, if Butler clears waivers, the plan is for him to sign a NBA G League contract with the Wizards’ affiliate, the Capital City Go-Go. He would remain an unrestricted free agent if that comes to fruition, as NBA deals take precedence over G League contracts.

Butler went undrafted last year after one college season at Florida State. He signed a two-way deal with New Orleans, but was waived after 10 days, and caught on with Portland shortly thereafter. He spent all of 2022/23 — his rookie season — on a two-way contract with the Trail Blazers, appearing in 19 games while averaging 2.4 points in 11.6 minutes per contest.

The 21-year-old re-signed with Portland on a two-way deal in July, but was waived on October 20, just before the ’23/24 season began. He caught on with Washington a few days later, but didn’t appear in any NBA games for the Wizards this fall.

Butler has appeared in nine Showcase Cup games with the Go-Go this season, averaging 7.2 points, 3.8 rebounds and 2.0 blocks in 22.7 minutes.

The Wizards have 15 players on standard contracts, but they’ll have a two-way opening once the move is official.

Johnny Davis Sidelined With Calf Strain

December 6th, 2023 at 5:10pm CST by Arthur Hill

Johnny Davis has a strained left calf and his condition will be reevaluated weekly, the Wizards announced (via Twitter).

Lakers Notes: Trade Market, Reaves, Vanderbilt, Hachimura, Vincent

December 2nd, 2023 at 9:44pm CST by Arthur Hill

The Lakers will be patient about assessing potential trades, team sources tell Jovan Buha of The Athletic. Numerous injuries have made it difficult to evaluate the current roster, so the front office will continue to study the type of moves that need to be made and wait to see what opportunities might develop if teams such as the Raptors, Wizards, Jazz, Nets or Hornets decide to have a “fire sale” before the February deadline, according to Buha.

December 15 marks the unofficial start of trade season as most of the free agents who signed this summer will become eligible to be moved. For L.A., that list includes D’Angelo Russell, Gabe Vincent, Taurean Prince, Cam Reddish, Christian Wood and Jaxson Hayes. Rui Hachimura and Austin Reaves will become trade-eligible a month later.

Buha notes that the Lakers have already been linked to Zach LaVine in trade rumors, along with fellow Bulls DeMar DeRozan and Alex Caruso. But it appears any deal may be a couple of months away.

There’s more on the Lakers:

Finding the best role for Reaves should be one of coach Darvin Ham‘s priorities for the rest of the season, Buha states in the same story. Reaves began the season as a starter, but he has put up better stats since being moved to a sixth-man role. Buha says the early-season slump could have been caused by fatigue from playing for Team USA in the World Cup or it could have been a result of adapting to more minutes at point guard. Regardless, Ham will eventually have to settle on a fifth starter from a group that includes Reaves, Prince, Reddish and Max Christie.
Meeting with reporters before tonight’s game, Ham confirmed that Jarred Vanderbilt will make his season debut after missing 20 games with bursitis in his left heel, Buha tweets. Hachimura has been medically cleared after missing the past four games following surgery for a nasal fracture, but Ham said “it’s more of a touch-and-feel thing with Rui” regarding how much he will play.
Vincent has only appeared in four games because of a left knee effusion, but he’s getting closer to a return, Ham added, saying that he’s lifting weights, shooting and running on an anti-gravity treadmill (Twitter link). “He’s progressing along,” Ham said. “Not as of yet, but he’s progressing really, really good.”

Southeast Notes: Adebayo, Heat, Magic, Wizards, McGowens, Smith

December 1st, 2023 at 2:14pm CST by Tristan Tucker

Heat center Bam Adebayo went to the locker room in the second quarter of Miami’s Thursday victory over the Pacers after re-aggravating a hip injury, then was later ruled out for the rest of the game.

“He came in those last four minutes of the second quarter and he was just getting some treatment at halftime with the intention to come back,” head coach Erik Spoelstra said, per Anthony Chiang of the Miami Herald. “I basically talked to him in my office and just said, ‘Look, you’re laboring like the fourth quarter of the New York game and it’s November right now. I’m not putting you back in in the second half. I’m taking this decision out of your hands.’ I didn’t even talk to the trainers at that point.”

This lingering hip issue has caused Adebayo to miss three games this season already. While it hasn’t yet kept him out of action long-term, it’s still worth monitoring Miami’s leading scorer and rebounder.

“It’s not, thankfully, something serious,” Spoelstra said. “It’s just you play competitive NBA basketball, you get hit, you’re jumping and you’re twisting, all that stuff. He heals fast, so we’ll continue to treat him and see where we are.”

With Adebayo out of action, the Heat turned to Thomas Bryant, who had previously been out of the rotation, but he only logged six minutes to start the second half. Orlando Robinson also saw some action, but Kevin Love took on the brunt of the workload at the position.

We have more from the Southeast Division:

Spoelstra made headlines this offseason when he said he felt the Heat were deeper this year than last. At the time, the Heat had just missed out on trading for Damian Lillard and lost Gabe Vincent and Max Strus to free agency. But Spoelstra appears to have been proven right, with Miami’s depth propelling the team in the early parts of the season, Chiang writes in a separate piece. Even with Tyler Herro unavailable, the Heat’s reserves outscored Indiana’s bench 66-23 on Thursday. Love, Josh Richardson, Caleb Martin and Jaime Jaquez are among the bench players currently flourishing. “That’s scary, man,” Martin said. “Shoot, Duncan is coming off a hand injury, you got Tyler who’s not even back in the mix. We got a lot of guys we can turn to and that’s the scary thing about it. … We just got a lot of talented dudes who are ready whenever their name is going to be called.“
The Magic, whose 13-5 record is the second-best in the NBA, are one of the league’s top teams. Josh Robbins of The Athletic analyzes how Orlando set the standard for what a rebuild should look like, and compares it to how the Wizards have started theirs. As Robbins observes, the Magic sold high on their core at the right time, primarily by turning Nikola Vucevic into Franz Wagner, a baton handoff for franchise cornerstone, by way of trade. Robbins opines that for the Wizards, the best time to trade Bradley Beal, their centerpiece at the time, was from 2019-21. Then, when former decision-makers gave Beal a no-trade clause, it forced newly hired president Michael Winger and general manager Will Dawkins to sell low on the three-time All-Star, failing to kick-start a rebuild in the way the Magic did when they traded Vucevic.
Hornets guards Bryce McGowens and Nick Smith are both getting increased opportunities in Charlotte, with each scoring season highs in Thursday’s win over the Nets. “Bryce is just putting a lot of work in and it’s showing,” Charlotte guard Terry Rozier said, per The Charlotte Observer’s Roderick Boone. “That’s all it is. We are all happy for him and hopefully he can keep it going.” Smith said he’s enjoying the chance to contribute as a young rookie.

NBA Waiver Order Now Based On 2023/24 Records

December 1st, 2023 at 7:19am CST by Luke Adams

As of December 1, the NBA’s waiver priority order is determined by teams’ current-year records, rather than the previous season’s results.

That means, starting today, the waiver order for this season is based on teams’ 2023/24 records, with the worst teams getting the highest priority. In other words, if two teams place a claim on the same player, the team lower in this season’s NBA standings will be awarded that player.

Up until today, the waiver claim order was based on which teams had the worst records in 2022/23.

Waiver claims are relatively rare in the NBA, but it’s still worth noting which teams will have the first crack at intriguing players who may be cut over the next few weeks or months.

[RELATED: 2023/24 NBA Waiver Claims]

Here’s what the teams at the top of the NBA’s waiver order look like as of today:

Detroit Pistons (2-17)
San Antonio Spurs (3-15) (tie)
Washington Wizards (3-15) (tie)
Memphis Grizzlies (4-13)
Chicago Bulls (6-14)
Utah Jazz (6-13)
Portland Trail Blazers (6-12)
Charlotte Hornets (6-11)
Los Angeles Clippers (8-10)
Golden State Warriors (9-10) (tie)
Toronto Raptors (9-10) (tie)

In instances where multiple teams have identical records, head-to-head record for the current season is used to break ties — the team with the worst winning percentage in head-to-head games gets the higher priority.

If the tied teams have yet to face one another or if they’ve split their head-to-head matchups, a coin flip determines priority for those teams. That would be the case for both the Spurs and Wizards and Warriors and Raptors right now, since those two pairs have yet to go up against each other this season.

If a waived player can’t be claimed using the minimum salary exception, a team must use a trade exception, a disabled player exception, or cap room to absorb his salary. So a club with a top priority won’t be in position to nab just anyone who reaches waivers.

The Pistons, for example, have no cap space or exceptions available to place a waiver claim on any player earning more than the minimum, so despite their spot at the top of the waiver order, their ability to claim players is somewhat limited.

Deni Avdija Finds Shooting Consistency

November 29th, 2023 at 8:46pm CST by Arthur Hill

Wizards forward Deni Avdija has become more consistent after being a hot-and-cold shooter through his first three NBA seasons, notes Chase Hughes of Monumental Sports. Avdija is third on the team in scoring at 12.1 PPG while shooting a career-high 51.9% from the floor and 39.6% from three-point range. The 22-year-old is solidified as part of the future in Washington after signing a four-year extension prior to the season.