Forbes: Suns’ 2019 value increases 17 percent

Feb 6, 2019, 12:07 PM

Phoenix Suns forward Josh Jackson (20) dunks over Houston Rockets guard Chris Paul during the secon...

Phoenix Suns forward Josh Jackson (20) dunks over Houston Rockets guard Chris Paul during the second half of an NBA basketball game,, Monday, Feb. 4, 2019, in Phoenix. (AP Photo/Matt York)

(AP Photo/Matt York)

For the second year in a row, the Phoenix Suns are the 17th-most valuable NBA team. After seeing their worth increase by 17 percent year-over-year, the Suns are worth $1.5 billion, according to Forbes.

Phoenix is just below the average NBA team’s value of $1.9 billion but grew more than the average of 13 percent from 2018.

Like last year, the New York Knicks lead the list with an overall valuation of $4 billion after they grew 11 percent since last year. They are followed by the Los Angeles Lakers ($3.7 billion), Golden State Warriors ($3.5 billion), Chicago Bulls ($2.9 billion) and Boston Celtics ($2.8 billion).

The Cleveland Cavaliers were only NBA team that saw its value decrease by 4 percent to $1.275 billion.

For the Suns, it remains to be seen how their recently-approved renovation deal for downtown Phoenix’s Talking Stick Resort Arena will impact the value of the team.

Teams such as the Warriors and Bucks, who have already moved into their new arenas or have already earned sponsorships with moves upcoming, saw noticeable spikes in their valuations.

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Forbes: Suns’ 2019 value increases 17 percent