In 2010, Joe Lacob and Peter Guber bought the Golden State Warriors for a then-record $450 million. Twelve years later, the franchise is now the highest valued team in the NBA at a staggering $7 billion, thanks to new rankings released by Forbes on Thursday.
Bolstered by last season’s championship success, the Warriors have overtaken the legendary New York Knicks ($6.1 billion) to become the NBA’s most valuable franchise. The Los Angeles Lakers ($5.9 billion) came in at number three on the list.
Forbes ranks Warriors as most valuable NBA franchise for first time everhttps://t.co/xhXFIhCxNC pic.twitter.com/s1WYpOAMVN
— KNBR (@KNBR) October 27, 2022
Led by superstar Steph Curry, Golden State is outpacing the league with four titles in eight years and also on another level when it comes to capitalizing on the team’s marketable brand. Forbes officially released a report that states, the Warriors led the league in revenue ($765 million) and operating profit ($206 million), buoyed by NBA-best sales in premium seating ($250 million) and advertising ($150 million) – which was double the next closest team.
The Warriors have invested in their product and are making huge profits, which only adds to the interest and morale of their worldwide fan base. The Golden State is in a cycle of financial success. Spend more money, earn more money, spend more money, earn more money. Chase Centre also makes money, and the team just started a new business called Golden State Enterprises to grow even more.
“The money part’s great. It’s a sense of value,” Warriors president of basketball Bob Myers noted. “But I look at it more as far as our brand and how respected it is.”
For the first time since Forbes started valuing NBA franchises over 20 years ago, a team other than the New York Knicks or the Los Angeles Lakers topped the rankings. This is undoubtedly a great milestone for the warriors.
