Cavs ranked 10th-most valuable franchise
Forbes magazine’s annual look at NBA team evaluations puts the Cavs in a positive light, ranking them as the 10th-most valuable franchise at $380 million, according to Brian Windhorst.
That’s up seven percent from last year and more than 70 percent since James’ arrival in 2003.
The publication reported the Cavs took in a record $115 million in revenue last year with $23.9 million in operating profit, not including various taxes and renovation costs to the arena. The writers also estimate Gilbert’s net worth at more than $1.1 billion. Last year, they estimated it at $900 million.
The New York Knicks are the NBA’s most valuable franchise despite nearly $40 million in operating losses last season, according to theÂ list.
The Los Angeles Lakers were second at $568 million, while the Dallas Mavericks had a 15 percent jump after their first NBA finals appearance and were third at $463 million. Chicago ($461 million) and Houston ($439 million) rounded out the top five.
The complete Forbes list will be appear in its Feb. 12 issue.