Letâs just say you canât just go to the mall and buy one
By Mo Hussain, Sports Reporter
The general idea people should get here is that if you want to make a lot of money owning a sports team, just buy or make one in New York.
Believe it or not, professional sports teams are worth a lot of money. Whether itâs because of the teamâs excellent performance, branding, or geographical location, the allure around some pro sports teams are quite apparent. According to Forbes magazine, the top five most valuable sports teams in 2020 are worth an estimated 24-billion dollars combined.
Here are the five teams which made up that number:
5. Golden State Warriors: $4.3 billion
The NBAâs Golden State Warriorsâ dominating success in the second half of the 2010s helped them skyrocket from the 20th most valuable team in 2017 to one of the most valuable teams in the world. The teamâs success included three NBA championships, five straight NBA finals appearances, and breaking the record for the best regular season record in NBA history in the 2015-16 NBA season.
4. Los Angeles Lakers: $4.4 billion
Just ahead of the Warriors are NBA contemporaries the Los Angeles Lakers. The Lakers have always been a marquee franchise for the NBA but are more so relevant nowadays with the addition of LeBron James in 2018, and Anthony Davis in 2019. The duo brought the Lakers their first NBA championship in a decade last October, and their continued success this year might lead the franchise to its second straight championship and more financial success.
3. New York Knicks: $4.6 billion
This one is potentially still difficult for some NBA fans, as the New York Knicks havenât been known for as much on-court success in recent years as the Lakers and Warriors. However, much of the teamâs valuation likely falls on the teamâs branding and geographical region; having a basketball team in one of the largest sports markets, and an arena with hefty sponsorship deals definitely helps generate revenue.
2. New York Yankees: $5 billion
The general idea people should get here is that if you want to make a lot of money owning a sports team, just buy or make one in New York. Somewhat similar to the Knicks, itâs not necessarily the success on the diamond that keeps them this baseball team valuable. Instead, the teamâs history and branding play a massive part.
1. Dallas Cowboys: $5.5 billion ($5.7 billion in an another ranking later that year)
The lone NFL franchise in the top five most valuable teams is the most expensive. The Dallas Cowboys have been the upper echelon of the most valuable sports franchises for quite some time, as they have been the most valuable team for five straight years. Revenue generated from the teamâs stadium, advertising deals, and a new complex created by the owner of the team played a big part.
Keep in mind however, the rankings were published in July 2020. It will be interesting to see where the teams on this list will be positioned in the next âmost valuable teamsâ rankings given the ongoing pandemic.Â
