New York Knicks Rumors
The average NBA franchise is worth nearly $2.4 billion, according to data compiled by Sportico. That is down 2% as a direct result of the pandemic, based on our modeling. Collectively, the fair-market value of the NBA’s 30 teams, including ownership’s stakes in real estate, regional sports networks and additional team-related holdings, is more than $71 billion. Three franchises—the New York Knicks, Golden State Warriors and Los Angeles Lakers—are each worth more than $5 billion. (For context, each of those teams has a greater fair-market value than any National Football League team except for the Dallas Cowboys, based on Sportico‘s assessment of football team valuations last August.)
To be sure, the cumulative revenue for the NBA’s 30 teams, $8.3 billion, was down from the previous, non-COVID-impacted season by nearly 10%. However, a closer look reveals that national revenues (accrued predominantly from the league’s broadcast and sponsorship deals, as well as its licensing program) dipped only 2%. That, in large measure, is because of the NBA’s audacious plan to salvage the season with a playoff bubble at Orlando’s Walt Disney World. In a disrupted COVID environment, such single- and low double-digit declines represent remarkable stability.
The Knicks are set to play the second half of a back-to-back Monday against the Magic on Martin Luther King Jr. Day, a meaningful game for Reggie Bullock. “Using my platform, I have to bring awareness to a lot of social issues going on throughout America,” Bullock said. “I think it’s big for us playing that day. I’m very proud to be doing it, to be playing with my team and competing. The Knicks are a huge franchise. It’s great for us to use our platform and play for a great organization.”We play on MLK Day to continue to bring awareness to all the social issues going on in America right now.” We play on MLK Day to continue to bring awareness to all the social issues going on in America right now.”