Forbes Magazine annually compiles sports franchise value data, and the numbers for the NBA came out this week. The league — which announced a massive new TV deal in October, jumping from less than $1 billion per year to more than $2.6 billion per year — figured to see some large gains in franchise values.
But the numbers that came out Wednesday are eye-opening even when accounting for expectations. The average value of franchises jumped a whopping 72 percent from last year to this year, per Forbes.
The Timberwolves’ increase wasn’t quite that dramatic, but it is still quite sharp: a 45 percent increase, from $430 million in 2014 to $625 million in 2015. While that value puts Minnesota 29th among the 30 NBA franchises (only the Bucks are valued lower), it is the continuation of a sharp upward trend for the Wolves.
For most of the mid-to-late-2000s, the Wolves hovered around a $300 million value mark. The recession and NBA work stoppage dropped the Wolves to down to $264 million in 2011 (their lowest value since 2004) and it increased only modestly to $272 million in 2012.
From there, though, it jumped to $364 million in 2013, $430 in 2014 and now $625 million. That’s a 130 percent increase in just three years, which certainly brings a smile to the face of team owner Glen Taylor (who also owns the Star Tribune).
Of course, the valuation doesn’t mean much unless it moves the needle on a potential sale price for the team. Kevin Garnett better start saving his money.