CNBC's Official NBA Team Valuations 2025: Here's how the 30 franchises stack up
The average National Basketball Association team is worth $4.66 billion, according to CNBC Sport's official NBA valuations.
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The average National Basketball Association team is worth $4.66 billion, according to CNBC Sport's official NBA valuations. This places the league between the average National Football League team, worth $6.49 billion, and the average National Hockey League team, worth $1.92 billion.
The most valuable NBA team is the Golden State Warriors, worth $9.4 billion. The Warriors generated $781 million in revenue — net of their revenue-sharing payment — during the 2023-24 season, the highest in the NBA. The Warriors own their home arena, San Francisco's Chase Center, from which they also earn revenue from non-NBA events. The team raked in nearly $200 million in sponsorship revenue last season, nearly double that of any other team, according to a league executive.
It may not be surprising that the value of the Warriors has increased at a 24% compound annual growth rate since Joe Lacob and Peter Guber paid $450 million for the team in 2010. After all, the Warriors have won four NBA titles over the past decade, moved into their state-of-the-art arena in 2019 and have been led by two-time league MVP Stephen Curry.
But even the small-market Memphis Grizzlies, the NBA's least valuable team, worth $3.2 billion, have been a great investment for owner Robert Pera. The Grizzlies have not been to the NBA Finals since entering the league in 1995 and generally rank in the bottom third of the NBA in average attendance. Yet, the value of the Grizzlies has increased at a 19% annual rate since Pera paid $377 million for the team in 2012.
According to team executives, the biggest reason for the rising tide in NBA valuations has been the increase in national media rights, which are divided equally among the league's 30 teams. In July, the NBA agreed to a new media rights package worth $76 billion over 11 years, beginning with the 2025-26 season. On an average annual basis, the new deal is worth $6.9 billion a year, nearly 160% more than its current deal is worth.
Revenue and EBITDA figures represent the 2023-24 season. Here is CNBC's methodology for ranking the NBA teams.
— CNBC's Tafannum Rahman contributed to this report.
CNBC's Official NBA Team Valuations 2025
| Rank | Team | Value | Revenue | EBITDA | Debt as % of Value | Owner(s) |
| 1 | Golden State Warriors | $9.4B | $781M | $155M | 9% | Joe Lacob, Peter Guber |
| 2 | New York Knicks | $7.5B | $578M | $178M | 4% | Madison Square Garden Sports |
| 3 | Los Angeles Lakers | $7B | $528M | $191M | 3% | Jerry Buss family trust, Mark Walter, Todd Boehly |
| 4 | Chicago Bulls | $5.8B | $402M | $118M | 3% | Jerry Reinsdorf |
| 5 | Houston Rockets | $5.7B | $402M | $119M | 4% | Tilman Fertitta |
| 6 | Brooklyn Nets | $5.6B | $389M | $78M | 16% | Joe Tsai |
| 7 | Boston Celtics | $5.5B | $452M | $17M | 6% | Wyc Grousbeck, Irving Grousbeck, Stephen Pagliuca, Robert Epstein |
| 8 | Los Angeles Clippers | $5.4B | $351M | -$114M | 4% | Steve Ballmer |
| 9 | Miami Heat | $5.1B | $394M | $65M | 8% | Micky Arison |
| 10 | Dallas Mavericks | $5B | $430M | $132M | 4% | Miriam Adelson and Patrick and Sivan Dumont, Mark Cuban |
| 11 | Philadelphia 76ers | $4.9B | $394M | $110M | 4% | Josh Harris, David Blitzer |
| 12 | Phoenix Suns | $4.6B | $377M | $0 | 7% | Mat Ishbia, Justin Ishbia |
| 13 | Toronto Raptors | $4.5B | $349M | $93M | 4% | Rogers Communications, BCE, Larry Tanenbaum |
| 14 | Sacramento Kings | $4.45B | $425M | $90M | 12% | Vivek Ranadivé |
| 15 | Cleveland Cavaliers | $4.35B | $406M | $100M | 5% | Dan Gilbert |
| 16 | Atlanta Hawks | $4.3B | $384M | $124M | 6% | Tony Ressler |
| 17 | Washington Wizards | $4.25B | $357M | $111M | 5% | Ted Leonsis |
| 18 | Denver Nuggets | $4.2B | $386M | $66M | 4% | Stan Kroenke |
| 19 | Milwaukee Bucks | $4.1B | $350M | $-14M | 8% | Wes Edens and Jamie Dinan, Jimmy and Dee Haslam |
| 20 | Utah Jazz | $3.75B | $367M | $106M | 8% | Ryan and Ashley Smith |
| 21 | San Antonio Spurs | $3.7B | $344M | $108M | 5% | Peter J. Holt, Sixth Street Partners |
| 22 | Portland Trail Blazers | $3.65B | $339M | $71M | 5% | Paul G. Allen Trust |
| 23 | Orlando Magic | $3.55B | $317M | $95M | 5% | The DeVos family |
| 24 | Oklahoma City Thunder | $3.5B | $321M | $74M | 6% | Clayton Bennett, George Kaiser |
| 25 | Detroit Pistons | $3.45B | $306M | $81M | 6% | Tom Gores |
| 26 | Indiana Pacers | $3.4B | $339M | $98M | 7% | Herb Simon and Stephen Simon, Steven Rales |
| 27 | Charlotte Hornets | $3.35B | $304M | $78M | 9% | Rick Schnall, Gabe Plotkin |
| 28 | New Orleans Pelicans | $3.3B | $311M | $54M | 7% | Gayle Benson |
| 29 | Minnesota Timberwolves | $3.25B | $328M | $70M | 7% | Glen Taylor, Marc Lore and Alex Rodriguez |
| 30 | Memphis Grizzlies | $3.2B | $299M | $46M | 10% | Robert Pera |
