The biggest reasons for the increase are the recent media deals with ESPN and TNT, worth $930 million per season, nearly three times the current rate. The new contract will go into effect with the start of the 2016-17 season, but the value of the new deal has already made a huge impact on what teams are worth.
Another factor was the recent sell of the LA Clippers for $2 billion. New owner Steve Ballmer has secured the team in the Los Angeles market and with the acquisition, the franchise went up 178% in value over this time last year.
The LA Lakers have taken over the top spot with a $2.6 billion value, but the league also seen a rise with eleven teams now worth over $1 billion.
New York dropped a spot to second with a total worth of $2.5 billion. Chicago, Boston, and the Clippers round out the top-5 with each team rising by 79 percent or more over the last twelve months.
Several teams are also doing well with their local media outlets. Sacramento, Miami, and Atlanta have all signed new deals in the last few months and the average deal is three times higher then the last.
Two teams are currently for sale and that could lead to another increase of overall value. Brooklyn is worth $1.5 billion and the Hawks are valued at $825 million, but both could rise significantly depending on who buys these franchises and the future plans of the new owners.
Philadelphia has struggled over the last few NBA seasons, but that hasn’t hurt the teams value. Josh Harris and his partners bought the 76ers for $280 million back in 2012 and Forbes has values the team at $420 million in 2015, not a bad investment for one of the worst teams in the league.