Feb 18, 2025 - News

Report: Utah Jazz valued at nearly $4 billion

Kim Bojórquez

SALT LAKE CITY, UTAH - MARCH 19: General view outside of the Delta Center ahead of the NCAA Men's Basketball Tournament on March 19, 2024 in Salt Lake City, Utah. — CNBC estimates the Utah Jazz is now worth $3.75 billion. Photo by Christian Petersen/Getty Images

CNBC Sports has recently valued the Utah Jazz at $3.75 billion — more than double what owners Ryan and Ashley Smith reportedly paid to secure the team in 2020.

Why it matters: The Smiths forked over $1.66 billion to purchase the team and the Delta Center from the Miller family, according to ESPN.

State of play: The Jazz are now the 20th most valuable team in the NBA, per CNBC's annual rankings, generating $367 million in revenue during the 2023-24 season.

Zoom out: The Golden State Warriors took the top spot at $9.4 billion and the Memphis Grizzlies came in 30th at $3.2 billion.

The average NBA team is worth about $4.6 billion.

The intrigue: National media rights divided equitably among the league's teams are the main driver for the rising valuations, CNBC reports, citing team executives.

Add Axios on Google

Report: Utah Jazz valued at nearly $4 billion

More Salt Lake City stories