Cavs ranked 10th-most valuable franchise


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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 the 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.

Published by Luke Ross

Luke Ross, is the founder of CavsNews.com. Luke grew up watching and playing soccer but his heart was always in Basketball. Luke arrived in Cleveland in 1993 and turned into a Cavaliers fan since.