Forbes’ NBA Team Values 2020: Here's How The Sixers Compare

Despite boasting two young superstars, being one of the most talked about teams in the country, being ranked as a preseason NBA Finals favorite, and playing in a major market, the Philadelphia 76ers are not nearly as valuable as you might think.

The Sixers fell outside of the top 10 in Forbes 2020 franchise valuations of all National Basketball Association teams, according to their newly released rankings.

They came in at 11th overall, trailing several teams considered less popular, and multiple teams that have not seen anywhere near the level of on-court success as the Sixers over the past several years.

Forbes' "The Business of Basketball" says the Sixers are worth $2 billion, less than half of the league's most expensive franchise, the $4.6 billion New York Knicks. This irony will not be lost on many basketball fans, as the Knicks are often thought to be among the most poorly run franchises in all of modern professional sports. They have not had a winning season since 2013-14, and have made only four playoff appearances since the turn of the century, a precipitous fall from grace for a team in the world's biggest sports market that helped define the sport in the 1990s.

But despite the absurd antics of the Knicks — some might argue, because of them, as some of their highly questionable player transactions have resulted in major financial savings — they sit atop the 2020 Forbes list. They're unsurprisingly followed by the Los Angeles Lakers and Golden State Warriors, whose respective dynasties and highly marketable superstars have made their brands internationally popular.

The Sixers were purchased by Josh Harris and company back in 2011 for $287 million. Since then they've plummeted to the lowest of lows, embarking on The Process and undergoing years of intentional "tanking." It netted them all-world players in Joel Embiid and Ben Simmons, and the franchise has massively increased its value, and is in the midst of their third consecutive playoff campaign. But it hasn't been enough to crack the top 10.

The Sixers' revenue per fan sits at $29, while the average ticket price now sits at a gaudy $70 (though it should be noted, that factors in the club boxes and courtside seats which can routinely go for thousands of dollars).

Despite losing superstar Kawhi Leonard in the offseason and being written off as non-contenders, the reigning NBA champion Toronto Raptors are doing just fine. Not only do they currently sit in second place in the Eastern Conference on the heels of a 15-game winning streak, but they enjoyed the biggest boost in value over the last year, Forbes said. The NBA's lone Canadian franchise is now worth $2.1 billion, a 25 percent increase from last year’s figure, placing them 10th on the overall list.

It is the first time in league history that the average NBA team is worth more than $2 billion, Forbes reported. Additionally, NBA franchises overall increased by 14 percent during the last year, compared to an 11 percent increase for NFL teams and an 8 percent increase from Major League Baseball franchises.

Since 2010, the average NBA team value is up nearly sixfold.

The Memphis Grizzlies are the lowest currently valued team in the NBA at $1.3 billion. The bottom five are rounded out by the New Orleans Pelicans, Minnesota Timberwolves, Orlando Magic and Detroit Pistons.

Forbes compiled the 22nd annual version of its NBA valuation list by using “revenue multiples to calculate our team values (equity plus net debt) based on the economics of each team’s current arena deal,” authors of the Forbes study wrote in a section labeled “Methodology.”

You can read more about how the business magazine calculated the valuations of each NBA franchise on its website.

Here's the full top 10 list:

1. New York Knicks: $4.6 billion
2. Los Angeles Lakers: $4.4 billion
3. Golden State Warriors: $4.3 billion
4. Chicago Bulls: $3.2 billion
5. Boston Celtics: $3.1 billion
6. Los Angeles Clippers: $2.6 billion
7. Brooklyn Nets: $2.5 billion
8. Houston Rockets: $2.475 billion
9. Dallas Mavericks: $2.4 billion
10. Toronto Raptors: $2.1 billion

The full list of NBA franchise valuations is available on Forbes’ website.