Useless Information Thread.
Tue Aug 17, 2004 4:09 am
Here's a compiled list of teams that are worth the most. We'll go from most value to least value.
1- Los Angeles Lakers.
Current Value: $447 Million
Debt Value: 30%
Revenues: $149 Million
Operating Income: $22.8 Million
Owner: Jerry Buss, bought them in 1979 for $20 Million.
Player Expenses: $66 Million
The Skinny: Billionaire Philip Anschutz, who controls the Staples Center and owns hockey's Los Angeles Kings, also owns 30% of the Lakers. The Staples Center, built in 1999, is the most lucrative arena in sports because it is the home of three major professional teams (Lakers, Clippers, Kings) and Anschutz is able to command top prices for advertising and sponsorships.
2- New York Knicks.
Current Value: $401 Million
Debt Value: 62%
Revenues: $160 Million
Operating Income: $13.5 Million
Owner: Cablevision Systems, bought them in 1997 for $300 Million.
Player Expenses: $80 Million
The Skinny: After several years of horrible management and lousy play, the New York Knicks recently brought in former NBA star Isiah Thomas to run the team. Despite losing fans the past couple of years, the franchise has lots of upside given its media leverage with parent cable company Cablevision Systems and its ownership of Madison Square Garden.
3- Chicago Bulls.
Current Value: $356 Million
Debt Value: 7%
Revenues: $119 Million
Operating Income: $49 Million
Owner: Jerry Reinsdorf, bought them in 1985 for $18 Million.
Player Expenses: $48 Million
The Skinny: The Chicago Bulls, who own half of the United Center, are making a comeback. Attendance is on the upswing thanks to better play on the hardwood and no increase in ticket prices for the past five seasons. Also, the Bulls have boosted corporate sponsorships, some of which have tie-ins with their fans. Example: The HopeLine Wireless program with Verizon Wireless, which focuses on combating domestic violence and life-rebuilding programs.
4- Dallas Mavericks.
Current Value: $338 Million
Debt Value: 44%
Revenues: $117 Million
Operating Income: $-17.7 Million
Owner: Mark Cuban, bought them in 2000 for $280 Million.
Player Expenses: $75 Million
The Skinny: The Dallas Mavericks own half of American Airlines Arena, perhaps the finest dual-sport facility in the United States. Since buying the Mavericks in 2000, Mark Cuban has done a masterful job of turning the franchise around and has also helped turn American Airlines Center into one of the top revenue-generating venues in the country.
5- Philadelphia 76'ers.
Current Value: $328 Million
Debt Value: 20%
Revenues: $109 Million
Operating Income: $2 Million
Owner: Comcast-Spectacor, bought them in 1996 for $125 Million.
Player Expenses: $61 Million
The Skinny: Comcast-Spectacor, which runs the 76ers and hockey's Flyers, is run by Ed Snyder, a man so devoted to sports that he mortgaged his home to bring an expansion hockey franchise to Philadelphia in 1967. Snyder has leveraged his original ownership of the Flyers into an extremely profitable partnership with cable giant Comcast, who also owns the Wachovia Center and a 24-hour regional sports network.
6- Boston Celtics.
Current Value: $290 Million
Debt Value: 62%
Revenues: $97 Million
Operating Income: $25.6 Million
Owner: Wycliffe Grousbeck, bought them in 2002 for $360 Million.
Player Expenses: $56 Million
The Skinny: The Boston Celtics' new owners paid a record $360 million for the franchise at the end of 2002, taking on $180 million of debt in the process. To justify such a rich price and to keep their creditors at bay, the team has been working hard to boost sponsorship revenue at every imaginable place, such as the Mohegan Sun Casino in Connecticut. The team is also trying to negotiate a better lease with the owner of the FleetCenter, Delaware North. But that's not likely since Delaware North is owned by Boston Bruins owner Jeremy Jacobs.
7-Detroit Pistons.
Current Value: $284 Million
Debt Value: 0%
Revenues: $102 Million
Operating Income: $23.5 Million
Owner: William Davidson, bought them in 1974 for $8 Million.
Player Expenses: $51 Million
The Skinny: The small-market Detroit Pistons are among the most profitable teams in the NBA. The Palace of Auburn Hills, built in 1988 and owned by team owner William Davidson, is still among the league's better arenas. With an improved team on the court, the Pistons have increased their sponsorship revenues in recent years by signing Chevrolet to a multi-year deal and adding Rock Financial, one of Michigan's largest mortgage companies, as a presenting sponsor.
8- San Antonio Spurs.
Current Value: $283 Million
Debt Value: 46%
Revenues: $105 Million
Operating Income: $18.5 Million
Owner: Peter Holt, bought them in 1993 for 75 Million
Player Expenses: $56 Million
The Skinny: The San Antonio Spurs moved into the SBC Center for 2002-03 season with smashing success, winning their second NBA title. The state-of-the-art facility was financed largely with taxpayer money. But the bulk of the arena's revenue will go to the team, allowing the small-market franchise to be one of the league's more profitable teams. Now if they can only find someone to lead the team like center David Robinson did for so many years.
9- Phoenix Suns.
Current Value: $282 Million
Debt Value: 46%
Revenues: $109 Million
Operating Income: $21.5 Million
Owner: Jerry Colangelo, bought them in 1987 for 45 million.
Player Expenses: $58 Million
The Skinny: Pro sports is just as much about real estate as it is television. So it really hurt the Phoenix Suns when hockey's Phoenix Coyotes bolted for their own new arena this season. To make up for loss revenues from the Coyotes' departure, Jerry Colangelo, who runs the Suns and controls the lease to America West Arena, financed most of a $50 million renovation to the building. The renovation, which has added premium seating, is expected to generate an additional $4 million a season in sponsorship and retail revenue.
10- Indiana Pacers.
Current Value: $280 Million
Debt Value: 18%
Revenues: $94 Million
Operating Income: $10.1 Million
Owner: Herbert Simon and Melvin Simon, bought them in 1983 for 100 Million.
Player Expenses: $57 Million
The Skinny: The Simon brothers own the Indiana Pacers and have a lease at the state-of-the-art Conseco Fieldhouse that gives them operating control. The small-market team makes a big profit thanks to sponsorships, promotions and concerts held at the arena. Indiana, of course, is basketball country, which enables the Pacers to draw unusually high television ratings for its market size.
11- Houston Rockets.
Current Value: $278 Million
Debt Value: 14%
Revenues: $82 Million
Operating Income: $15.2 Million
Owner: Leslie Alexander, bought them in 1993 for 85 Million.
Player Expenses: $53 Million
The Skinny: This November, the Houston Rockets moved into the Toyota Center, a state-of-the-art, taxpayer- financed arena. Team owner Leslie Alexander will operate the new arena and keep all of the facility's profits. New Chinese sensation Yao Ming will improve the team, which should make selling luxury suites and corporate sponsorships a lot easier.
12- Sacramento Kings.
Current Value: $275 Million
Debt Value: 24%
Revenues: $102 Million
Operating Income: $-16.8 Million
Owner: Gavin Maloof and Joseph Maloof, bought them in 1998 for 156 Million.
Player Expenses: $73 Million
The Skinny: The casino-operating Maloof family has turned the Sacramento Kings into one of the NBA's premier franchises since acquiring the team and Arco arena in 1998. Stellar play on the court has enabled the team to charge among the highest ticket prices in the league and to develop brand loyalty with a small cadre of sponsors, despite the small size of their market. The team's antiquated arena limits its financial upside. ARCO has stadium naming rights.
13- Washington Wizards.
Current Value: $274 Million
Debt Value: 24%
Revenues: $98 Million
Operating Income: $28.5 Million
Owner: Abe Pollin, bought them in 1964 for 1 Million.
Player Expenses: $49 Million
The Skinny: The firing of minority owner Michael Jordan last year sent a bad chill through the MCI Center, home to the Washington Wizards. The team is terrible and attendance has fallen off so much that the Wizards routinely give away thousands of tickets. With over $100 million of debt on the arena, Wizards owner Abe Pollin probably wishes he never forced the greatest player in the history of basketball out of his organization.
14- Portland Trail-Blazers.
Current Value: $272 Million
Debt Value: 50%
Revenues: $97 Million
Operating Income: $-85.1 Million
Owner: Paul Allen, bought them in 1988 for 70 Million.
Player Expenses: $100 Million
The Skinny: Rich List member and Microsoft co-founder Paul Allen bought the Portland Trail Blazers with the wealth he created in the software industry. But Allen has been far less successful with basketball, as high debt and an extremely bloated player payroll has sunk his franchise deep into the red. Worse, with players like Damon Stoudamire arrested several times, the Trail Blazers have developed a bad image that some think has made it more difficult for Allen to get sponsorships at his arena, the Rose Garden. Allen is now shedding non-player costs to cut losses.
15- Cleveland Cavaliers.
Current Value: $258 Million
Debt Value: 12%
Revenues: $72 Million
Operating Income: $3.8 Million
Owner: George Gund and Gordon Gund, bought them in 1983 for 20 Million.
Player Expenses: $53 Million
The Skinny: The arrival of teenage sensation LeBron James has turned the Cleveland Cavaliers into an upper tier franchise in terms of dollars and sense. The team, which has a good lease at Gund Arena, has added millions of dollars worth of premium seating, sponsorships and television rights fees since the hometown James was drafted.
Gordon Gund has stadium naming rights.
16- Toronto Raptors.
Current Value: $249 Million
Debt Value: 25%
Revenues: $96 Million
Operating Income: $10.6 Million
Owner: Larry Tanenbaum, bought them in 1998 for 125 Million.
Player Expenses: $58 Million
The Skinny: Maple Leaf Sports & Entertainment, which controls the NBA's Raptors, NHL's Maple Leafs and Air Canada Centre, is among the most lucrative enterprises in professional sports. By packaging its two teams together, MLS&E has been able to command rich sponsorship and television contracts. Also, the Air Canada Centre is among the busiest arenas in North America, generating millions in profits from non-sporting events like concerts.
17- New Jersey Nets.
Current Value: $244 Million
Debt Value: 41%
Revenues: $94 Million
Operating Income: $-1.6 Million
Owner: Raymond Chambers and Lewis Katz, bought them in 1998 for 150 Million.
Player Expenses: $63 Million
The Skinny: The New Jersey Nets may soon become the New York Nets. The team, burdened by an onerous lease at Continental Airlines Arena, and a mountain of debt, could soon be sold to real estate developer Bruce Ratner for $300 million. Ratner wants to move the team to a new arena in Brooklyn as part of a development project.
18- Utah Jazz.
Current Value: $239 Million
Debt Value: 13%
Revenues: $85 Million
Operating Income: $13.8 Million
Owner: Larry Miller, bought them in 1985 for 24 Millions.
Player Expenses: $53 Million
The Skinny: The Utah Jazz have been a consistently profitable franchise because they own their arena, the Delta Center, and have among the most loyal fans in the NBA. The Jazz have the luxury of being the only big-time sports franchise in Utah, and superstars Karl Malone and John Stockton have engineered a long history of playing winning basketball. But after last season Malone went to the Los Angeles Lakers and Stockton retired. So team owner Larry Miller now faces the challenge of rebuilding his team for the first time in many years.
19- Miami Heat.
Current Value: $236 Million
Debt Value: 91%
Revenues: $63 Million
Operating Income: $7.9 Million
Owner: Micky Arison, bought them in 1995 for 68 Million.
Player Expenses: $49 Million
The Skinny: The Heat control beautiful American Airlines Arena, which was built in 1999. But the facility's revenue is being pinched by a crowded sports and entertainment market and the Florida Panthers of the NHL, who built their own arena, are close by. To draw fans, the team has slashed ticket prices and has also cut non-player salaries to help meet heavy debt payments.
20- Minnesota Timber-Wolves.
Current Value: $230 Million
Debt Value: 22%
Revenues: $85 Million
Operating Income: $6.9 Million
Owner: Glen Taylor, bought them in 1995 for 89 Million.
Player Expenses: $56 Million
The Skinny: The Minnesota Timberwolves are owned by billionaire and Forbes Rich List member Glen Taylor. The team will not add much to Taylor's wealth, however, because it derives very little revenue from the Target Center, which is run by Clear Channel Communications. Despite lower attendance, the team's value went up this year largely because of a big increase in ticket prices.
21- Memphis Grizzlies.
Current Value: $227 Million
Debt Value: 40%
Revenues: $63 Million
Operating Income: $-19.7 Million
Owner: Michael Heisley, bought them in 2000 for 160 Million.
Player Expenses: $54 Million
The Skinny: The Grizzlies are moving into FedEx Forum next season. The team, who will run the arena, could see revenue increase by as much as $20 million a year due to luxury suite rentals, expensive club seats and sponsorships. The best part of the deal for Forbes Rich List member Michael Heisley, who owns the Grizzlies: taxpayers are footing the $250 million tab for FedEx Forum.
22- Denver Nuggets.
Current Value: $218 Million
Debt Value: 26%
Revenues: $75 Million
Operating Income: $7.9 Million
Owner: E Stanley Kroenke, bought them in 2000 for 202 Million.
Player Expenses: $52 Million
The Skinny: The Pepsi Center is a house divided: the Avalanche have been among hockey's best teams during the past decade while the Nuggets have been one of basketball's worst teams. This has kept fans away from the Pepsi Center during basketball season. With the signing of power forward Carmelo Anthony out of Syracuse this year, Stan Kroenke, who owns both teams and the arena, hoped to turn around the Nuggets and maximize the value of his assets. Smart move. Anthony has averaged 18 points a game and has turned the Nuggets into a winning team.
23- New Orleans Hornets.
Current Value: $216 Million
Debt Value: 35%
Revenues: $80 Million
Operating Income: $21.9 Million
Owner: George Shinn, bought them in 1988 for 33 Million.
Player Expenses: $48 Million Million
The Skinny: The New Orleans Hornets, who moved to the Big Easy for the 2002-03 season, have a much better arena and lease than they did in Charlotte. But New Orleans is the league's smallest market and has few big companies, which is why the Hornets have had a difficult time selling season tickets. To boost fan interest, the team has slashed ticket prices.
24- Los Angeles Clippers.
Current Value: $208 Million
Debt Value: 0%
Revenues: $72 Million
Operating Income: $15.9 Million
Owner: Donald Sterling, bought them in 1981 for 13 Million. (Cheap bastard.)
Player Expenses: $46 Million
The Skinny: The Los Angeles Clippers are third-class tenants in Staples Center, which is controlled by Philip Anschutz, owner of hockey's Los Angeles Kings. The rival Los Angeles Lakers and Kings derive the vast majority of revenue from the arena. But frugal owner Donald Sterling keeps the Clippers highly profitable by shedding higher-priced players and getting revenue from the league's salary cap and tax systems.
25- Atlanta Hawks.
Current Value: $202 Million
Debt Value: 35%
Revenues: $78 Million
Operating Income: $-8.4 Million
Owner: Time Warner, bought them in 2001 for 184 Million.
Player Expenses: $59 Million
The Skinny: The Atlanta Hawks are an underachieving asset. The team plays in Philips Arena, among the newest and most lucrative arenas in the NBA. But because the Hawks can't get their act together on the court, attendance has been poor and the value of the franchise has slipped. Time Warner, which owns the Hawks and hockey's Thrashers, is on the verge of selling an 85% interest in its teams and the operating rights to Philips Arena for $250 million to a partnership called the Atlanta Spirit.
26- Orlando Magic.
Current Value: $199 Million
Debt Value: 30%
Revenues: $80 Million
Operating Income: $13.1 Million
Owner: Richard DeVos, bought them in 1991 for 85 Million.
Player Expenses: $54 Million
The Skinny: The Orlando Magic play in an antiquated facility which is controlled by the city, leaving the team with minimal revenues from premium seating and non-basketball events. Forbes 400 member Richard DeVos, who owns the franchise, was denied use of public money to build a new arena two years ago. Attendance has been slipping for the Magic, who compete in a crowded entertainment market. Do not be surprised if the Magic were sold or moved to another city.
27- Seattle Super Sonics.
Current Value: $196 Million
Debt Value: 46%
Revenues: $70 Million
Operating Income: $2.4 Million
Owner: Howard Schultz, bought them in 2001 for 200 Million.
Player Expenses: $56 Million
The Skinny: Starbucks honcho Howard Schultz has had better luck selling coffee than running the Seattle SuperSonics. The team has had its troubles on the hardwood which has made it difficult to gett fans to come to games and for corporations to lease luxury suites. Key Arena, home of the SuperSonics, is run by the city, so the SuperSonics derive little in the way of sponsorship revenue from the facility. The team is working on getting a new arena or improving its lease with the city.
28- Golden State Warriors.
Current Value: $188 Million
Debt Value: 29%
Revenues: $70 Million
Operating Income: $7.8 Million
Owner: Christopher Cohan, bought them in 1995 for 119 Million.
Player Expenses: $51 Million
The Skinny: This past October the Golden State Warriors finally settled their long-running dispute with the Oakland-Alameda County Coliseum Commission over the rent and remodeling expenses of their arena. The Warriors had to pay $22 million in back rent, but in turn the team ended up with a more favorable lease in which they will have more control over marketing the arena's premium seating and sponsorships.
29- Milwaukee Bucks.
Current Value: $174 Million
Debt Value: 17%
Revenues: $70 Million
Operating Income: $-15.1 Million
Owner: Herbert Kohl, bought them in 1985 for 19 Million.
Player Expenses: $62 Million
The Skinny: The Milwaukee Bucks play in one of the NBA's smallest markets and its arena, the Bradley Center, is an archaic facility that is run by the city. As a result, the Bucks are among the poorest teams in the league. Owner Herb Kohl has been trying to get taxpayers to upgrade the arena and has also had a "for sale" sign on the team.
These are from the 2003-2004 season.
Chicago in the top three was quite surprising. Minnesota doesn't do too bad being around number 20.
1- Los Angeles Lakers.
Current Value: $447 Million
Debt Value: 30%
Revenues: $149 Million
Operating Income: $22.8 Million
Owner: Jerry Buss, bought them in 1979 for $20 Million.
Player Expenses: $66 Million
The Skinny: Billionaire Philip Anschutz, who controls the Staples Center and owns hockey's Los Angeles Kings, also owns 30% of the Lakers. The Staples Center, built in 1999, is the most lucrative arena in sports because it is the home of three major professional teams (Lakers, Clippers, Kings) and Anschutz is able to command top prices for advertising and sponsorships.
2- New York Knicks.
Current Value: $401 Million
Debt Value: 62%
Revenues: $160 Million
Operating Income: $13.5 Million
Owner: Cablevision Systems, bought them in 1997 for $300 Million.
Player Expenses: $80 Million
The Skinny: After several years of horrible management and lousy play, the New York Knicks recently brought in former NBA star Isiah Thomas to run the team. Despite losing fans the past couple of years, the franchise has lots of upside given its media leverage with parent cable company Cablevision Systems and its ownership of Madison Square Garden.
3- Chicago Bulls.
Current Value: $356 Million
Debt Value: 7%
Revenues: $119 Million
Operating Income: $49 Million
Owner: Jerry Reinsdorf, bought them in 1985 for $18 Million.
Player Expenses: $48 Million
The Skinny: The Chicago Bulls, who own half of the United Center, are making a comeback. Attendance is on the upswing thanks to better play on the hardwood and no increase in ticket prices for the past five seasons. Also, the Bulls have boosted corporate sponsorships, some of which have tie-ins with their fans. Example: The HopeLine Wireless program with Verizon Wireless, which focuses on combating domestic violence and life-rebuilding programs.
4- Dallas Mavericks.
Current Value: $338 Million
Debt Value: 44%
Revenues: $117 Million
Operating Income: $-17.7 Million
Owner: Mark Cuban, bought them in 2000 for $280 Million.
Player Expenses: $75 Million
The Skinny: The Dallas Mavericks own half of American Airlines Arena, perhaps the finest dual-sport facility in the United States. Since buying the Mavericks in 2000, Mark Cuban has done a masterful job of turning the franchise around and has also helped turn American Airlines Center into one of the top revenue-generating venues in the country.
5- Philadelphia 76'ers.
Current Value: $328 Million
Debt Value: 20%
Revenues: $109 Million
Operating Income: $2 Million
Owner: Comcast-Spectacor, bought them in 1996 for $125 Million.
Player Expenses: $61 Million
The Skinny: Comcast-Spectacor, which runs the 76ers and hockey's Flyers, is run by Ed Snyder, a man so devoted to sports that he mortgaged his home to bring an expansion hockey franchise to Philadelphia in 1967. Snyder has leveraged his original ownership of the Flyers into an extremely profitable partnership with cable giant Comcast, who also owns the Wachovia Center and a 24-hour regional sports network.
6- Boston Celtics.
Current Value: $290 Million
Debt Value: 62%
Revenues: $97 Million
Operating Income: $25.6 Million
Owner: Wycliffe Grousbeck, bought them in 2002 for $360 Million.
Player Expenses: $56 Million
The Skinny: The Boston Celtics' new owners paid a record $360 million for the franchise at the end of 2002, taking on $180 million of debt in the process. To justify such a rich price and to keep their creditors at bay, the team has been working hard to boost sponsorship revenue at every imaginable place, such as the Mohegan Sun Casino in Connecticut. The team is also trying to negotiate a better lease with the owner of the FleetCenter, Delaware North. But that's not likely since Delaware North is owned by Boston Bruins owner Jeremy Jacobs.
7-Detroit Pistons.
Current Value: $284 Million
Debt Value: 0%
Revenues: $102 Million
Operating Income: $23.5 Million
Owner: William Davidson, bought them in 1974 for $8 Million.
Player Expenses: $51 Million
The Skinny: The small-market Detroit Pistons are among the most profitable teams in the NBA. The Palace of Auburn Hills, built in 1988 and owned by team owner William Davidson, is still among the league's better arenas. With an improved team on the court, the Pistons have increased their sponsorship revenues in recent years by signing Chevrolet to a multi-year deal and adding Rock Financial, one of Michigan's largest mortgage companies, as a presenting sponsor.
8- San Antonio Spurs.
Current Value: $283 Million
Debt Value: 46%
Revenues: $105 Million
Operating Income: $18.5 Million
Owner: Peter Holt, bought them in 1993 for 75 Million
Player Expenses: $56 Million
The Skinny: The San Antonio Spurs moved into the SBC Center for 2002-03 season with smashing success, winning their second NBA title. The state-of-the-art facility was financed largely with taxpayer money. But the bulk of the arena's revenue will go to the team, allowing the small-market franchise to be one of the league's more profitable teams. Now if they can only find someone to lead the team like center David Robinson did for so many years.
9- Phoenix Suns.
Current Value: $282 Million
Debt Value: 46%
Revenues: $109 Million
Operating Income: $21.5 Million
Owner: Jerry Colangelo, bought them in 1987 for 45 million.
Player Expenses: $58 Million
The Skinny: Pro sports is just as much about real estate as it is television. So it really hurt the Phoenix Suns when hockey's Phoenix Coyotes bolted for their own new arena this season. To make up for loss revenues from the Coyotes' departure, Jerry Colangelo, who runs the Suns and controls the lease to America West Arena, financed most of a $50 million renovation to the building. The renovation, which has added premium seating, is expected to generate an additional $4 million a season in sponsorship and retail revenue.
10- Indiana Pacers.
Current Value: $280 Million
Debt Value: 18%
Revenues: $94 Million
Operating Income: $10.1 Million
Owner: Herbert Simon and Melvin Simon, bought them in 1983 for 100 Million.
Player Expenses: $57 Million
The Skinny: The Simon brothers own the Indiana Pacers and have a lease at the state-of-the-art Conseco Fieldhouse that gives them operating control. The small-market team makes a big profit thanks to sponsorships, promotions and concerts held at the arena. Indiana, of course, is basketball country, which enables the Pacers to draw unusually high television ratings for its market size.
11- Houston Rockets.
Current Value: $278 Million
Debt Value: 14%
Revenues: $82 Million
Operating Income: $15.2 Million
Owner: Leslie Alexander, bought them in 1993 for 85 Million.
Player Expenses: $53 Million
The Skinny: This November, the Houston Rockets moved into the Toyota Center, a state-of-the-art, taxpayer- financed arena. Team owner Leslie Alexander will operate the new arena and keep all of the facility's profits. New Chinese sensation Yao Ming will improve the team, which should make selling luxury suites and corporate sponsorships a lot easier.
12- Sacramento Kings.
Current Value: $275 Million
Debt Value: 24%
Revenues: $102 Million
Operating Income: $-16.8 Million
Owner: Gavin Maloof and Joseph Maloof, bought them in 1998 for 156 Million.
Player Expenses: $73 Million
The Skinny: The casino-operating Maloof family has turned the Sacramento Kings into one of the NBA's premier franchises since acquiring the team and Arco arena in 1998. Stellar play on the court has enabled the team to charge among the highest ticket prices in the league and to develop brand loyalty with a small cadre of sponsors, despite the small size of their market. The team's antiquated arena limits its financial upside. ARCO has stadium naming rights.
13- Washington Wizards.
Current Value: $274 Million
Debt Value: 24%
Revenues: $98 Million
Operating Income: $28.5 Million
Owner: Abe Pollin, bought them in 1964 for 1 Million.
Player Expenses: $49 Million
The Skinny: The firing of minority owner Michael Jordan last year sent a bad chill through the MCI Center, home to the Washington Wizards. The team is terrible and attendance has fallen off so much that the Wizards routinely give away thousands of tickets. With over $100 million of debt on the arena, Wizards owner Abe Pollin probably wishes he never forced the greatest player in the history of basketball out of his organization.
14- Portland Trail-Blazers.
Current Value: $272 Million
Debt Value: 50%
Revenues: $97 Million
Operating Income: $-85.1 Million
Owner: Paul Allen, bought them in 1988 for 70 Million.
Player Expenses: $100 Million
The Skinny: Rich List member and Microsoft co-founder Paul Allen bought the Portland Trail Blazers with the wealth he created in the software industry. But Allen has been far less successful with basketball, as high debt and an extremely bloated player payroll has sunk his franchise deep into the red. Worse, with players like Damon Stoudamire arrested several times, the Trail Blazers have developed a bad image that some think has made it more difficult for Allen to get sponsorships at his arena, the Rose Garden. Allen is now shedding non-player costs to cut losses.
15- Cleveland Cavaliers.
Current Value: $258 Million
Debt Value: 12%
Revenues: $72 Million
Operating Income: $3.8 Million
Owner: George Gund and Gordon Gund, bought them in 1983 for 20 Million.
Player Expenses: $53 Million
The Skinny: The arrival of teenage sensation LeBron James has turned the Cleveland Cavaliers into an upper tier franchise in terms of dollars and sense. The team, which has a good lease at Gund Arena, has added millions of dollars worth of premium seating, sponsorships and television rights fees since the hometown James was drafted.
Gordon Gund has stadium naming rights.
16- Toronto Raptors.
Current Value: $249 Million
Debt Value: 25%
Revenues: $96 Million
Operating Income: $10.6 Million
Owner: Larry Tanenbaum, bought them in 1998 for 125 Million.
Player Expenses: $58 Million
The Skinny: Maple Leaf Sports & Entertainment, which controls the NBA's Raptors, NHL's Maple Leafs and Air Canada Centre, is among the most lucrative enterprises in professional sports. By packaging its two teams together, MLS&E has been able to command rich sponsorship and television contracts. Also, the Air Canada Centre is among the busiest arenas in North America, generating millions in profits from non-sporting events like concerts.
17- New Jersey Nets.
Current Value: $244 Million
Debt Value: 41%
Revenues: $94 Million
Operating Income: $-1.6 Million
Owner: Raymond Chambers and Lewis Katz, bought them in 1998 for 150 Million.
Player Expenses: $63 Million
The Skinny: The New Jersey Nets may soon become the New York Nets. The team, burdened by an onerous lease at Continental Airlines Arena, and a mountain of debt, could soon be sold to real estate developer Bruce Ratner for $300 million. Ratner wants to move the team to a new arena in Brooklyn as part of a development project.
18- Utah Jazz.
Current Value: $239 Million
Debt Value: 13%
Revenues: $85 Million
Operating Income: $13.8 Million
Owner: Larry Miller, bought them in 1985 for 24 Millions.
Player Expenses: $53 Million
The Skinny: The Utah Jazz have been a consistently profitable franchise because they own their arena, the Delta Center, and have among the most loyal fans in the NBA. The Jazz have the luxury of being the only big-time sports franchise in Utah, and superstars Karl Malone and John Stockton have engineered a long history of playing winning basketball. But after last season Malone went to the Los Angeles Lakers and Stockton retired. So team owner Larry Miller now faces the challenge of rebuilding his team for the first time in many years.
19- Miami Heat.
Current Value: $236 Million
Debt Value: 91%
Revenues: $63 Million
Operating Income: $7.9 Million
Owner: Micky Arison, bought them in 1995 for 68 Million.
Player Expenses: $49 Million
The Skinny: The Heat control beautiful American Airlines Arena, which was built in 1999. But the facility's revenue is being pinched by a crowded sports and entertainment market and the Florida Panthers of the NHL, who built their own arena, are close by. To draw fans, the team has slashed ticket prices and has also cut non-player salaries to help meet heavy debt payments.
20- Minnesota Timber-Wolves.
Current Value: $230 Million
Debt Value: 22%
Revenues: $85 Million
Operating Income: $6.9 Million
Owner: Glen Taylor, bought them in 1995 for 89 Million.
Player Expenses: $56 Million
The Skinny: The Minnesota Timberwolves are owned by billionaire and Forbes Rich List member Glen Taylor. The team will not add much to Taylor's wealth, however, because it derives very little revenue from the Target Center, which is run by Clear Channel Communications. Despite lower attendance, the team's value went up this year largely because of a big increase in ticket prices.
21- Memphis Grizzlies.
Current Value: $227 Million
Debt Value: 40%
Revenues: $63 Million
Operating Income: $-19.7 Million
Owner: Michael Heisley, bought them in 2000 for 160 Million.
Player Expenses: $54 Million
The Skinny: The Grizzlies are moving into FedEx Forum next season. The team, who will run the arena, could see revenue increase by as much as $20 million a year due to luxury suite rentals, expensive club seats and sponsorships. The best part of the deal for Forbes Rich List member Michael Heisley, who owns the Grizzlies: taxpayers are footing the $250 million tab for FedEx Forum.
22- Denver Nuggets.
Current Value: $218 Million
Debt Value: 26%
Revenues: $75 Million
Operating Income: $7.9 Million
Owner: E Stanley Kroenke, bought them in 2000 for 202 Million.
Player Expenses: $52 Million
The Skinny: The Pepsi Center is a house divided: the Avalanche have been among hockey's best teams during the past decade while the Nuggets have been one of basketball's worst teams. This has kept fans away from the Pepsi Center during basketball season. With the signing of power forward Carmelo Anthony out of Syracuse this year, Stan Kroenke, who owns both teams and the arena, hoped to turn around the Nuggets and maximize the value of his assets. Smart move. Anthony has averaged 18 points a game and has turned the Nuggets into a winning team.
23- New Orleans Hornets.
Current Value: $216 Million
Debt Value: 35%
Revenues: $80 Million
Operating Income: $21.9 Million
Owner: George Shinn, bought them in 1988 for 33 Million.
Player Expenses: $48 Million Million
The Skinny: The New Orleans Hornets, who moved to the Big Easy for the 2002-03 season, have a much better arena and lease than they did in Charlotte. But New Orleans is the league's smallest market and has few big companies, which is why the Hornets have had a difficult time selling season tickets. To boost fan interest, the team has slashed ticket prices.
24- Los Angeles Clippers.
Current Value: $208 Million
Debt Value: 0%
Revenues: $72 Million
Operating Income: $15.9 Million
Owner: Donald Sterling, bought them in 1981 for 13 Million. (Cheap bastard.)
Player Expenses: $46 Million
The Skinny: The Los Angeles Clippers are third-class tenants in Staples Center, which is controlled by Philip Anschutz, owner of hockey's Los Angeles Kings. The rival Los Angeles Lakers and Kings derive the vast majority of revenue from the arena. But frugal owner Donald Sterling keeps the Clippers highly profitable by shedding higher-priced players and getting revenue from the league's salary cap and tax systems.
25- Atlanta Hawks.
Current Value: $202 Million
Debt Value: 35%
Revenues: $78 Million
Operating Income: $-8.4 Million
Owner: Time Warner, bought them in 2001 for 184 Million.
Player Expenses: $59 Million
The Skinny: The Atlanta Hawks are an underachieving asset. The team plays in Philips Arena, among the newest and most lucrative arenas in the NBA. But because the Hawks can't get their act together on the court, attendance has been poor and the value of the franchise has slipped. Time Warner, which owns the Hawks and hockey's Thrashers, is on the verge of selling an 85% interest in its teams and the operating rights to Philips Arena for $250 million to a partnership called the Atlanta Spirit.
26- Orlando Magic.
Current Value: $199 Million
Debt Value: 30%
Revenues: $80 Million
Operating Income: $13.1 Million
Owner: Richard DeVos, bought them in 1991 for 85 Million.
Player Expenses: $54 Million
The Skinny: The Orlando Magic play in an antiquated facility which is controlled by the city, leaving the team with minimal revenues from premium seating and non-basketball events. Forbes 400 member Richard DeVos, who owns the franchise, was denied use of public money to build a new arena two years ago. Attendance has been slipping for the Magic, who compete in a crowded entertainment market. Do not be surprised if the Magic were sold or moved to another city.
27- Seattle Super Sonics.
Current Value: $196 Million
Debt Value: 46%
Revenues: $70 Million
Operating Income: $2.4 Million
Owner: Howard Schultz, bought them in 2001 for 200 Million.
Player Expenses: $56 Million
The Skinny: Starbucks honcho Howard Schultz has had better luck selling coffee than running the Seattle SuperSonics. The team has had its troubles on the hardwood which has made it difficult to gett fans to come to games and for corporations to lease luxury suites. Key Arena, home of the SuperSonics, is run by the city, so the SuperSonics derive little in the way of sponsorship revenue from the facility. The team is working on getting a new arena or improving its lease with the city.
28- Golden State Warriors.
Current Value: $188 Million
Debt Value: 29%
Revenues: $70 Million
Operating Income: $7.8 Million
Owner: Christopher Cohan, bought them in 1995 for 119 Million.
Player Expenses: $51 Million
The Skinny: This past October the Golden State Warriors finally settled their long-running dispute with the Oakland-Alameda County Coliseum Commission over the rent and remodeling expenses of their arena. The Warriors had to pay $22 million in back rent, but in turn the team ended up with a more favorable lease in which they will have more control over marketing the arena's premium seating and sponsorships.
29- Milwaukee Bucks.
Current Value: $174 Million
Debt Value: 17%
Revenues: $70 Million
Operating Income: $-15.1 Million
Owner: Herbert Kohl, bought them in 1985 for 19 Million.
Player Expenses: $62 Million
The Skinny: The Milwaukee Bucks play in one of the NBA's smallest markets and its arena, the Bradley Center, is an archaic facility that is run by the city. As a result, the Bucks are among the poorest teams in the league. Owner Herb Kohl has been trying to get taxpayers to upgrade the arena and has also had a "for sale" sign on the team.
These are from the 2003-2004 season.
Chicago in the top three was quite surprising. Minnesota doesn't do too bad being around number 20.
Tue Aug 17, 2004 6:12 am
This kicks ass, thanks a lot Jackall 
Tue Aug 17, 2004 6:15 am
whoa.. where did you compile this information from?
thx btw
thx btw
Tue Aug 17, 2004 6:18 am
crawford4MIP4real wrote:whoa.. where did you compile this information from?
I was browsing the web just searching for any kind of news & I came across Forbes. Richest people etc.
I did a NBA search & I got that list. Amazingly alot of the NBA owners made the list. (World's richest people)
I don't know if it's usefull but it's pretty cool.
Tue Aug 17, 2004 7:52 am
You suck Milwaukee!
Tue Aug 17, 2004 4:21 pm
good post Jackal
Not really suprised about the Bulls...
Not really suprised about the Bulls...
yo
Tue Aug 17, 2004 4:34 pm
Abe Pollin got a deal for 1 million for the wizards now its worth over 200 mill
Tue Aug 17, 2004 5:12 pm
Jackass wrote:Amazingly alot of the NBA owners made the list. (World's richest people)
Well you do need a bit of money to buy an NBA franchise.
Tue Aug 17, 2004 9:46 pm
this list is pretty much the same to what it was 5 years ago....Detroit moved up a few places though
Tue Aug 17, 2004 9:52 pm
I'm suprised how low the celtics are..
Thu Aug 19, 2004 10:52 am
Wow
Minnesota is cheap
thats how bad we used to be
Minnesota is cheap
thats how bad we used to be
Thu Aug 19, 2004 11:02 am
Eh? These are from the 2003-2004 season...last year. Used to be? What? Huh? No comprendo?
Thu Aug 19, 2004 11:10 am
Go get somethin to drink and leave me alone