Forbes does valuations each year for the franchises of each major sport.
Their basketball story went up this week, and they’ve got the Sixers now valued at $2 billion dollars, their 11th-ranked NBA team.
Josh Harris bought the franchise back in 2011 for $287 million dollars, so his investment is now worth more than seven times what he paid for it, going by this number. That’s not a bad bit of business on his part.
The 76ers led the NBA in attendance last season and are on top again halfway through the 2019-20 season. It is a dramatic rise for a franchise that ranked last among the NBA’s 30 teams in attendance five years ago while the team was piling up losses. The season ticket waiting list now tops 10,000 people. All-Stars Joel Embiid and Ben Simmons have led the turnaround on the court, and both are locked into long-term contracts. When Simmons’ five-year, $170 million max contract kicks in next season, the Sixers will almost certainly get hit with a luxury tax on its high payroll thanks to a quartet of stars all making more than $25 million.
It’s an increase of 21% from what Forbes valued the Sixers at last season.
For comparison, here’s the ten highest rated teams on the list:
- New York Knicks – $4.6 billion
- LA Lakers – $4.4 billion
- Golden State Warriors – $4.3 billion
- Chicago Bulls – $3.2 billion
- Boston Celtics – $3.1 billion
- LA Clippers – $2.6 billion
- Brooklyn Nets – $2.5 billion
- Houston Rockets – $2.47 billion
- Dallas Mavericks – $2.4 billion
- Toronto Raptors – $2.1 billion
Harris bought at a really nice time, right before the NBA found renewed popularity. Now you’ve got a healthy franchise with an interested fan base, you’re got a good TV deal and legal sports betting to keep people involved.