Jazz Ranked 18th Most Valuable NBA Team On Annual Forbes List
Feb 10, 2021, 3:12 PM
Qualtrics CEO and new Utah Jazz owner Ryan Smith (Photo: Utah Jazz)
(Photo: Utah Jazz)
SALT LAKE CITY, Utah – The Utah Jazz are ranked as the 18th most valuable NBA franchise according to Forbes annual valuation.
The Jazz are valued at $1.66 billion, up $110 million from last season’s $1.55 billion valuation by the business magazine. The evaluation marks a seven percent increase in overall value from last year.
While the valuation of most teams are projections by Forbes, the Jazz value was more clear after long time owner Gail Miller sold the franchise to tech billionaire and Utah native Ryan Smith for $1.66 billion late last year.
Average team values are up 4%, the smallest gain since 2010, but the NBA’s financial outlook is still bright with big market teams particularly attractive. @kbadenhausen and @MikeOzanian have more https://t.co/c0gZmnSh6o pic.twitter.com/iYNyEkOA2r
— Forbes SportsMoney (@ForbesSports) February 10, 2021
In addition to their lofty worth, the Jazz have an operating income of $42 million over the last season. The operating income marks the difference between the team’s income revenue and outing cost of operation.
How Do The Jazz Compare On The Forbes NBA List?
The Jazz $1.66 valuation is rather modest compared to some of the premier NBA franchises across the league. While the team sits just $330 million ahead of the 30th ranked Memphis Grizzlies in value, they trail the top-ranked New York Knicks by more than $3.34 billion dollars, enough to buy and sell the Jazz twice over.
The Jazz operating income also places the in the lower half of the league in money made. The Golden State Warriors, who own the NBA’s second-highest valuation at $4.7 billion have an operating income of $200 million.
That number is particularly staggering considering the Warriors were purchased by investors Joe Lacob and Peter Guber for just $450 million in 2010, which was thought to be a staggeringly high price at the time.
Forbes' 2021 NBA franchise valuations:
1) Knicks = $5 billion
2) Warriors = $4.7 billion
3) Lakers = $4.6 billion(Joe Lacob and Peter Guber bought the Warriors in 2010 for $450 million) 🤑 https://t.co/3u9ZVVtm28 pic.twitter.com/FHbvYM8jMv
— Drew Shiller (@DrewShiller) February 10, 2021
The Warriors climb is representative of the league overall according to Forbes. NBA team valuations are growing at a faster rate than other of the other three professional sports franchises in the United States. On average, teams have increased roughly six-fold over the last decade according to the site.
The Millers also made a wise investment when they purchased the Jazz in split payments totaling $22 million between 1985 and 1986. The team grew in value by nearly $1.64 billion over two and a half decades or roughly $65 million per season.
