Thursday, December 25, 2014

Sixers valued at an estimated $418 million

While the 76ers’ fortunes have gone south on the basketball court, they are standouts on the ledger.

Sixers valued at an estimated $418 million

(Charles Fox/Staff file photo)
(Charles Fox/Staff file photo)

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.

More coverage
 
VOTE: Will the Sixers lose more than 73 games?
 
Sixers 2014-15 regular season schedule
 
Buy 76ers jerseys, memorabilia, and other gear
 
Latest Sixers videos
 
Forum: When will the 76ers be a contender?

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.

About this blog

Keith Pompey has been an Inquirer reporter since September 2004 and took over the Sixers beat in the summer of 2013 after covering Temple basketball and football for the previous three years.

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.

Keith Pompey Inquirer Staff Writer
Marc Narducci Inquirer Staff Writer
Latest Videos:
Also on Philly.com:
Stay Connected