clock menu more-arrow no yes

Filed under:

Forbes estimates Sixers worth $700 million

New, comments

According to Forbes, the Philadelphia 76ers are the 27th most valuable NBA franchise.

Howard Smith-USA TODAY Sports

Forbes announced its 17th annual NBA team valuations on Monday morning, projecting the Los Angeles Lakers ($2.6 billion) as the most valuable team in the league passing the New York Knicks ($2.5 billion).

The site estimated the Philadelphia 76ers were the 27th most valuable NBA franchise — sandwiched in between the Charlotte Hornets and New Orleans Pelicans — with Joshua Harris' organization being valued at $700 million. Forbes valued the average NBA team at just over $1.1 billion.

Harris and the rest of the ownership group purchased the Sixers from Comcast-Spectacor in July 2011 for $280 million. Forbes' calculations estimate the group could sell the team for a tidy $420 million dollar profit four years and only one playoff appearance later. The team would likely sell for more on open market.

The price for the Sixers should skyrocket over the next few seasons, as well. For one, the NBA's upcoming TV deal set to kick in prior to the 2016-17 season will increase the value of each of the league's 30 franchises. Forecasting the Sixers'v projected improvement into playoff contention should also raise the team's value. Don't forget the team's soon-to-be-finished, state-of-the-art practice facility, either.

The Sixers solely rank so low because of the team's struggles to sell tickets through its rebuilding mode. As the Forbes article notes, the team quadrupled its ticket sales staff to revamp efforts to fill the Wells Fargo Center.

However, with the team's young talent, future assets and position in one of the largest media markets in the nation, the Sixers' have a terrific chance at rapidly climbing up these rankings over the next few years.