Thursday, December 10, 2009

Sixers worth $344 million

Forbes has announced its annual valuations of the National Basketball Association’s 30 teams, naming the Los Angeles Lakers the most valuable team at $607 million.

The champion Lakers replace the New York Knicks, who slip to #2 after four years at #1, and are now worth $586 million, down four % from last year.

The Sixers came in 14th with a value of $344 million, also down four percent. The team did have an operating income of $7.6 million, however.

Recession woes impacted the NBA as consumers are thinking twice about paying an average of $50 to attend an NBA game, while companies are reconsidering sponsorship and luxury suite deals.

Highlights include:
* This year marks the first time that team values have declined since Forbes began tracking NBA finances 11 years ago.
* The average team value fell 4% over the past year, to $367 million, while overall league revenue was flat at $3.8 billion.
* 12 teams posted an operating loss last season, the most since the lockout shortened 1998-99 campaign.

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