The Golden State Warriors are the NBA’s most valuable franchise for the fifth straight year at $11.33 billion, per Sportico’s latest valuations (paywall). They are the only U.S. team outside the NFL’s Cowboys ($12.8B) in that tier. The league’s financial surge is accelerating, and Golden State sits at the center of it.
Sportico pegs the average NBA team at $5.51 billion, up 20% year-over-year and 113% since 2022. Even the “get-in” price jumped: the lowest-ranked team (Grizzlies) is valued at $4B, roughly two-and-a-half times its 2022 figure. Golden State tops the top-10 list ahead of the Lakers ($10B), Knicks ($9.85B), Clippers ($6.72B) and Celtics ($6.35B), with leaguewide enterprise value near $165B when related real estate/businesses are included.
Why Golden State Sits at No. 1
The Warriors generated an estimated $833 million in revenue last season — 34% higher than the Knicks’ $620M, according to Sportico — fueled by elite game-day cash flows (more than $5M per game in tickets plus about $2.5M from suites) and one of the NBA’s richest jersey-patch deals (Rakuten at ~$45M annually). Their arena ownership is a differentiator: Golden State owns the $1.4B Chase Center and the surrounding 11-acre Thrive City development, which Sportico counts among related business assets.
The Warriors’ broader portfolio adds lift. The WNBA’s Golden State Valkyries pushed the club’s related business/real-estate value over $2B, with Sportico placing the Valkyries at roughly $500M and noting their per-game ticket revenue outpaced 10 NBA teams last year (including both clubs that reached the NBA Finals).
Leaguewide fundamentals are also rising. Sportico estimates teams averaged $408M in revenue last season (about $12.2B in total, including non-NBA events at team-run buildings). The NBA’s new national media contracts with Amazon/ESPN/ABC/NBC will lift annual TV distributions per team from roughly $103M to $143M when the deals begin — then step up to about $281M per team by 2034–35, on Sportico’s projections.
The Warriors’ valuation also underscores how franchise ownership has evolved into a global business venture. Golden State’s success off the court mirrors its on-court dominance over the past decade, where four championships and a massive Bay Area fan base have translated into unmatched brand power, corporate partnerships, and international recognition.
What’s Next: New Buildings, Bigger Checks, Expansion Watch
Venues are a major value lever. The Clippers’ Intuit Dome (first season) radically reshaped their economics, with Sportico estimating arena/sponsorship revenue jumped about 130% to $330M as the team captured premium inventory in-house (46 traditional suites, 20 bungalows, four courtside cabanas). New NBA arenas are slated for Oklahoma City (2028) and Philadelphia (2030). Sportico highlights that OKC’s upcoming, publicly funded building comes as the franchise rides on-court momentum and a valuation now up 22% to $4.34B.
On team sales, recent deals reset multiples: Celtics roughly $6.1B–$6.5B, Lakers at $10B, and Trail Blazers at $4.25B (pending approvals). Sportico’s cross-sport table places the NBA’s average value-to-revenue multiple near 13.5×, ahead of most U.S. leagues.
Expansion remains a watching brief. Per Sportico’s recap of July Board of Governors discussions, the league walked through dilution math and timelines; Seattle and Las Vegas stay front-of-mind, but the message from leadership was to proceed “deliberately.” Internationally, the NBA continues to scale — from the Basketball Africa League to ongoing initiatives in China — underscoring the long-run revenue story embedded in today’s team values.
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