Forbes: Suns are NBA’s 8th most-valuable team
The Phoenix Suns may be struggling on the court, but according to Forbes they are still in the upper echelon of NBA franchises when it comes to team value.
The Suns came in eighth on the list with a total value of $411 million. Former Sun Amar’e Stoudemire now plays for the top-rated team, with Forbes valuing the Knicks at $655 million.
Forbes ranked the teams by using various different factors, including player-costs-to-win ratio and revenue per fan, as well as looking at factors such as market, stadium and brand management.
The Suns made a surprising run to the Western Conference Finals last season before being eliminated by the eventual NBA champion Lakers in six games. Despite the team’s stellar play on the court, attendance fell 4%, to an average of 17,648 per game. The Suns sellout streak of 153 games at US Airways Center ended early last season and a few days later the team fired about 10% of its non-basketball staff.
Forbes notes that the Suns have been hit particularly hard by the bad economy, but have still remained one of the more profitable teams in the league thanks to their “sweetheart arena deal.”
During the past five seasons the team’s average operating income has been $28 million, more than any franchise that does not call Chicago, Detroit, Houston or Los Angeles home.
Take a look at how ArizonaSports.com ranked the Valley’s teams
