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Reproduced from Sportico; Table: Axios Visuals

The value of NBA teams has been rising at such an incredible pace that even the league's least valuable franchise is now worth well over $1 billion.

What's happening: A new report from sports business publication Sportico found that the average NBA team is now worth $2.4 billion.

Details: "Collectively, the fair-market value of the NBA’s 30 teams, including ownership’s stakes in real estate, regional sports networks and additional team-related holdings, is more than $71 billion," Sportico's Peter J. Schwartz writes.

  • "Three franchises—the New York Knicks, Golden State Warriors and Los Angeles Lakers—are each worth more than $5 billion. (For context, each of those teams has a greater fair-market value than any National Football League team except for the Dallas Cowboys, based on Sportico‘s assessment of football team valuations last August.)"

Flashback: In July 2010, the Warriors were purchased for a then-record $450 million.

How it works: Revenues have obviously declined for the NBA with the pandemic limiting in-person attendance at games, but valuations have fallen by just 2% on average, according to Sportico's methodology.

  • That's largely because much of teams' value comes from real estate holdings and investment funds or ancillary businesses such as the Philadelphia 76ers' Sixers Innovation Lab that have jumped in value since April.

What it means: While football and the NFL remain the most popular sport in the U.S., NBA teams are quietly taking over as the financial titans of the sports world.

  • Axios' Kendall Baker noted last year that according to Forbes' estimates, the average NBA team had seen its value rise by 476% since 2010.

Go deeper

Kendall Baker, author of Sports
Jan 28, 2021 - Sports

The NBA battle for the "second screen" is almost as important as the game itself

Illustration: Sarah Grillo/Axios

Tonight's NBA doubleheader will be broadcast on TNT, which means the network will almost certainly draw more viewers than its competitors throughout the evening.

Yes, but: While the battle for the "first screen" (broadcast) has already been won, the battle for the "second screen" (social media) will happen in real-time.

Mike Allen, author of AM
3 hours ago - Politics & Policy

Biden adviser Cedric Richmond sees first-term progress on reparations

Illustration: "Axios on HBO"

White House senior adviser Cedric Richmond told "Axios on HBO" that it's "doable" for President Biden to make first-term progress on breaking down barriers for people of color, while Congress studies reparations for slavery.

Why it matters: Biden said on the campaign trail that he supports creation of a commission to study and develop proposals for reparations — direct payments for African-Americans.

Cyber CEO: Next war will hit regular Americans online

Any future real-world conflict between the United States and an adversary like China or Russia will have direct impacts on regular Americans because of the risk of cyber attack, Kevin Mandia, CEO of cybersecurity company FireEye, tells "Axios on HBO."

What they're saying: "The next conflict where the gloves come off in cyber, the American citizen will be dragged into it, whether they want to be or not. Period."