Business in the NBA is booming, according to the latest franchise valuations by Forbes, and the Timberwolves are certainly part of the good times.

Every NBA franchise is now valued at $1 billion or more. The Wolves, thanks in part to Target Center renovations and an improved on-court product that has them on pace to reach the postseason for the first time since 2003-04, are valued at $1.06 billion (the Timberwolves are owned by Glen Taylor, who also owns the Star Tribune).

That figure is only 27th among the 30 NBA franchises and is about $600 million less than the value of an average team, but it does represent a 38 percent increase over last year's Timberwolves valuation of $770 million — the second-biggest jump, percentage-wise, of any team in the league.

Lucrative national TV deals and global expansion also have fueled leaguewide value increases.

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