Here's How Much the Washington Wizards Are Worth

The Washington Wizards are now worth $1 billion — and they hold the distinction of being one of the NBA’s least profitable teams, according to a new report on team valuations conducted by Forbes magazine.

The new valuation places the Ted Leonsis-owned franchise at No. 18 in the 30-team league, one below the Oklahoma City Thunder and one spot ahead of the Orlando Magic.

The New York Knicks, at $3.3 billion, had the highest net worth followed by the Los Angeles Lakers at $3 billion and the Golden State Warriors at $2.6 billion, according to the Forbes list. The Chicago Bulls, $2.5 billion, and Boston Celtics, $2.2 billion, rounded out the top five.

Here’s Forbes full list.

Washington fell two spots from last year’s Forbes ranking, when it placed No. 18 with a valuation of $960 million.

The Wizards have been one of the league’s least profitable teams in recent years, writes Forbes, due in large part to a $20 million-plus annual arena debt service bill split with the Washington…Read the full story from the Washington Business Journal.

The post Here’s how much the Washington Wizards are worth appeared first on WTOP.

Read More

Copyright DC WTOP
Contact Us