Reporting Tim Kephart
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MIAMI (CBSMiami) – The business of running an NBA team can get very complicated, as small market teams over the years have found out. Even for teams like Miami, turning a franchise into a money-maker is tough.
According to Forbes.com, even with the Big Three, the Miami Heat is still only the sixth most valuable franchise in the NBA. Forbes estimated that current value of the Heat to be approximately $457 million.
For comparisons sake, when Miami Dolphins owner Stephen Ross purchased the team, he paid roughly $1 billion for the team.
Forbes found that even with LeBron James, Dwyane Wade, and Chris Bosh, plus a NBA Finals run; the Heat only increased their year-over-year value by eight percent. Overall, the Heat had revenue of $158 million and an operating income of approximately $26 million.
The most valuable teams, according to Forbes, were in the two biggest media markets in the United States, Los Angeles and New York. Forbes estimated the L.A. Lakers value at $900 million and the New York Knicks’ at $780 million.
If you’ve recently hit the lottery and looking for a team to purchase, the least valuable team in the NBA is the Milwaukee Bucks, which is worth around $268 million, according to Forbes.