The value of sports teams has boomed in the past decade
hen Joe Lacob and Peter Guber paid $450 million for the Golden State Warriors in 2010, the sports world was left scratching its head. The first major team purchase for the venture capitalist and Hollywood producer, who outbid billionaire Larry Ellison, then the world’s sixth-richest person, set a record price for an NBA franchise. It was hardly anyone’s idea of a crown jewel.valued the team at $315 million seven months earlier, No. 18 in the league.
The secret was winning. Thanks to megastar Steph Curry, who the Warriors drafted in 2009, the team hasn’t missed the playoffs since 2012, reeling off five straight trips to the NBA Finals, winning three times. The Warriors now rank among the top of the league in home-game attendance; they have a brand new arena and their $401 million in revenue last season topped every NBA team except the Lakers.
History counts, too. The Lakers and the Chicago Bulls both rank among the top ten despite poor performance on the court during the decade. For the New York Knicks, it’s all branding: The Knicks may be the most mis-managed team in professional sports, but their value is up 583% over the last decade, sixth-most of any team.
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