How valuable is the Orlando Magic franchise? Forbes says, pretty high.
Forbes Magazine recently came out with their annual rankings of NBA teams and their overall franchise value. While the Magic, situated in lil ‘ol Orlando, aren’t running neck and neck with the likes of the Lakers and Knicks, they continue to come in at a very respectable number 11.
Rich DeVos, the owner of the Magic purchased the team in 1991 for a price of $85M dollars. The value today? $385M. That’s not a bad 20-year investment!
It’s no surprise that the top 3 franchises in the league all span from the 3 largest markets. The Laker franchise leads the NBA in total value coming in at a nearly $900M valuation (up 40%), the Knicks coming in at $780M (up 19%) and Chicago at $600M (up17%).
While Orlando was the only franchise who had a stagnant year of 0% growth, 8 out of the 30 NBA teams declined in value last year. Remember that lockout because everyone was going broke? Well, apparently only 27% of them were. (Phoenix, Toronto, Utah, Detroit, Cleveland, Philadelphia, Charlotte and Atlanta – in order from high to low of total value)
You can view the slideshow of every team and it’s value here.