Forbes’ NBA Values List: Suns fall to #10
Jan 27, 2012, 3:48 PM | Updated: 4:53 pm
The Phoenix Suns are headed in the wrong direction, and it has nothing to do with their disappointing 6-11 record.
Since Suns’ current owner Robert Sarver bought the team in 2004 from Jerry Colangelo, the franchise value has decreased by $9 million. Sarver bought the Suns for $404 million and they are now reportedly worth $395 million, according to Forbes’ annual list of NBA team values.
The Suns currently rank 10th on the Forbes’ list, after their 4% value decrease. Phoenix ranked 8th on the same list a year ago.
Phoenix is one of eight franchises that have lost value in the last year, and is the only team in the top 10 to experience a decrease in value.
The Los Angeles Lakers leapfrogged the New York Knicks as the most valuable franchise. Los Angeles’ valuation is an astounding $900 million and marks a 40% increase over the last year, thanks in part to a recent TV deal with Time Warner Cable. The Knicks are ranked second, followed by the Chicago Bulls.
On the other end of the spectrum, the Milwaukee Bucks are the least valuable team in the NBA with a valuation of $268 million.
