Sixers valued at an estimated $418 million
News blogs, sports blogs, entertainment blogs, and more from Philly.com, The Philadelphia Inquirer and the Philadelphia Daily News.
Sixers valued at an estimated $418 million
John Mitchell, Inquirer Staff Writer
While the 76ers’ fortunes have gone south on the basketball court, they are standouts on the ledger.
Valued at as the $314 million in 2011, the team’s value took a precipitous jump last season, topping out at an estimated $418 million, according to a report in Forbes Magazine released Wednesday.
Forbes ranked the Sixers 20th on its valuation list of teams in 2012, up from its No. 22 rank in 2011.
When owner Joshua Harris brought the team in 2010 he paid $287 million for the franchise.
The Sixers saw their value in 2012 boosted by 19 percent increase in their first year under Harris. The Sixers reached the second round of the playoffs for the first time since 2003.
Following the acquisition of center Andrew Bynum the Sixers reportedly doubled their season ticket base heading into what has thus far been a very disappointing season.
Despite a lockout that reduced the regular season to 66 games, the Forbes report indicated that the estimated average NBA team’s value at $509 million, a 30 percent increase from the previous season.
The New York Knicks surpassed the Los Angeles Lakers as the most valuable team in the NBA, their value jumping 41 percent to bring their estimated value to $1.1 billion. The Lakers were second at $1 billion.
The Chicago Bulls, Boston Celtics and Dallas Mavericks round out the top five.
The Milwaukee Bucks were the least valuable at $312 million.
What's the point in valuing NBA teams? It's not like they can be sold on the open market like, say, a share of stock, bonds or mutual funds? The number is meaningless unless and until the team is put up for sale.— aviator- $148 million? That is one expensive pile of excrement!— greenblood4200
- Disappointing season is an understatement. All Philly sports were disappointing last year and 2013 is not starting out well at all. The Flyers lose their first three games, Bynum, Eagles hiring Chip Kelly and the Phillies outfield woes. When will it end.— grimm39
- If they pay Bynum they will only be worth $318 million.— Drew777
John Mitchell is in his second year covering the 76ers for the Inquirer after joining the paper in November 2011. He covered the Washington Wizards for the Washington Times from 1998 to 2008. He's also worked at the Philadelphia Tribune, the Wilmington News Journal, Courier-Post, Trenton Times and Elmira Star-Gazette.Born and raised in West Philadelphia - not too far from Will Smith - he graduated from Overbrook High School the same year the 76ers won their last championship. He's a proud graduate of Howard University and the proud father of two sons, Jared and Jordan.
ABOUT MARC NARDUCCI
Marc Narducci has served in a variety of roles with the Inquirer since beginning in 1983. He has covered the 76ers as a backup and a beat writer. In addition, Narducci has covered everything from the Super Bowl to the World Series and a lot in between. Narducci also has a true passion for South Jersey scholastic sports, which he has covered for many years.
