Mavericks Rumors

Warriors, Lakers Top 2025 NBA Franchise Valuations

The Warriors are still the NBA’s most valuable team, according to Kurt Badenhausen of Sportico, who unveiled the website’s updated NBA franchise valuations for 2025 on Thursday.

Badenhausen projects the Warriors’ value at $11.33 billion, which represents an incredible 24% increase from last year’s $9.14 billion valuation. The NFL’s Dallas Cowboys, at $12.8 billion, continue to be the only global sports franchise whose valuation comes in higher than Golden State’s, according to Sportico’s projections.

As Badenhausen outlines, the Warriors lead the NBA in revenue by a significant margin, having generated an estimated $833MM last season. Golden State makes more than $5MM per game in ticket revenue, along with $2.5MM from luxury suites; the club also has a $45MM per year jersey patch deal with Rakuten, earns almost double what any other team makes in sponsorship revenue, and is one of the few teams to fully own and operate its arena, per Sportico.

After placing third a year ago, the Lakers have jumped to second place on Sportico’s 2025 list at $10 billion, based on Mark Walter‘s recent agreement to purchase the team at that valuation. The Lakers moved slightly ahead of the third-place Knicks, who come in at $9.85 billion.

Every team’s valuation has increased by at least 9% since last year, per Sportico, with the average value of an NBA franchise now at $5.51 billion (up 20% from 2024) and no team worth less than $4 billion.

The average valuation has more than doubled since 2022, when it was $2.58 billion. As Badenhausen writes, the NBA’s new $76 billion media rights deal and its global ambitions – including the possible creation of a league in Europe – have played a part in those gains.

Although the Warriors’ $833MM is something out of an outlier, NBA teams generated an average of approximately $408MM in revenue last season, according to Badenhausen, with the Grizzlies coming in last at $301MM. Memphis also ranks 30th on Sportico’s list of franchise values.

Despite placing at the bottom of this list, the Grizzlies actually had the most significant increase in their franchise valuation this past year, rising from $3.06 billion to $4 billion (31%). The Pelicans (30%), Timberwolves (29%), and Eastern Conference champion Pacers (27%) were the other biggest risers.

Of course, it’s worth noting that figures from Sportico or any other media outlet are just estimates and often don’t quite match up with the sale prices for franchises that change hands. But these projections are usually in the right ballpark and remain useful for getting a sense of the league’s most and least valuable teams.

Here’s Sportico’s full list of NBA franchise valuations for 2025:

  1. Golden State Warriors: $11.33 billion
  2. Los Angeles Lakers: $10 billion
  3. New York Knicks: $9.85 billion
  4. Los Angeles Clippers: $6.72 billion
  5. Boston Celtics: $6.35 billion
  6. Brooklyn Nets: $6.22 billion
  7. Chicago Bulls: $6.12 billion
  8. Miami Heat: $6.03 billion
  9. Philadelphia 76ers: $5.61 billion
  10. Houston Rockets: $5.53 billion
  11. Dallas Mavericks: $5.24 billion
  12. Toronto Raptors: $5.22 billion
  13. Phoenix Suns: $5.09 billion
  14. Atlanta Hawks: $5.02 billion
  15. Sacramento Kings: $5 billion
  16. Cleveland Cavaliers: $4.86 billion
  17. Denver Nuggets: $4.8 billion
  18. Washington Wizards: $4.78 billion
  19. Indiana Pacers: $4.76 billion
  20. Milwaukee Bucks: $4.54 billion
  21. San Antonio Spurs: $4.5 billion
  22. Oklahoma City Thunder: $4.34 billion
  23. Utah Jazz: $4.27 billion
  24. Portland Trail Blazers: $4.25 billion
  25. Minnesota Timberwolves: $4.24 billion
  26. Orlando Magic: $4.21 billion
  27. Detroit Pistons: $4.17 billion
  28. Charlotte Hornets: $4.13 billion
  29. New Orleans Pelicans: $4.02 billion
  30. Memphis Grizzlies: $4 billion

As Badenhausen notes, Sportico’s projections are based on a control sale price, rather than limited stake purchases. Controlling shares in the Celtics, Lakers, and Trail Blazers all changed hands this past year, though only the Celtics sale has been formally approved by the NBA so far.

William Chisholm is buying the Celtics in two stages, with an initial valuation of $6.1 billion and a blended valuation of roughly $6.5 billion. Walter is purchasing the Lakers at a valuation of $10 billion, while Tom Dundon is buying the Blazers at a $4.25 billion valuation.

2025/26 NBA Over/Unders: Southwest Division

With the 2025/26 NBA regular season just around the corner, we’re getting serious about predictions for the upcoming campaign and continuing an annual Hoops Rumors tradition.

With the help of the lines from a series of sports betting sites – including BetMGM and BetOnline – we’re running through the predicted win totals for each of the NBA’s 30 teams, by division. In a series of team-by-team polls, you’ll get the chance to weigh in on whether you think those forecasts are too optimistic or too pessimistic.

In 2024/25, our voters went 13-17 on their over/under picks. Can we top that in ’25/26?

We’ll wrap up our series today with the Southwest Division…


Houston Rockets


San Antonio Spurs


Dallas Mavericks


Memphis Grizzlies


New Orleans Pelicans


Previous voting results:

Atlantic

  • New York Knicks (53.5 wins): Over (63.2%)
  • Boston Celtics (42.5 wins): Over (52.7%)
  • Philadelphia 76ers (42.5 wins): Under (58.7%)
  • Toronto Raptors (37.5 wins): Over (50.2%)
  • Brooklyn Nets (20.5 wins): Over (54.4%)

Central

  • Cleveland Cavaliers (56.5 wins): Over (58.0%)
  • Detroit Pistons (46.5 wins): Over (60.5%)
  • Milwaukee Bucks (42.5 wins): Over (74.4%)
  • Indiana Pacers (37.5 wins): Over (50.1%)
  • Chicago Bulls (32.5 wins): Over (60.8%)

Southeast

  • Orlando Magic (51.5 wins): Over (52.8%)
  • Atlanta Hawks (47.5 wins): Over (54.9%)
  • Miami Heat (37.5 wins): Over (54.4%)
  • Charlotte Hornets (27.5 wins): Over (50.6%)
  • Washington Wizards (21.5 wins): Under (62.4%)

Northwest

  • Oklahoma City Thunder (62.5 wins): Over (62.9%)
  • Denver Nuggets (53.5 wins): Over (72.1%)
  • Minnesota Timberwolves (49.5 wins): Over (58.7%)
  • Portland Trail Blazers (34.5 wins): Over (57.1%)
  • Utah Jazz (18.5 wins): Over (55.3%)

Pacific

  • Los Angeles Clippers (48.5 wins): Under (58.7%)
  • Los Angeles Lakers (48.5 wins): Under (52.1%)
  • Golden State Warriors (46.5 wins): Over (68.3%)
  • Sacramento Kings (34.5 wins): Over (55.1%)
  • Phoenix Suns (31.5 wins): Under (56.8%)

Southwest Notes: Flagg, Hardy, Nembhard, Morant, Jackson Jr., Barnes

Cooper Flagg, point guard? At least for this week, that’s his spot. With D’Angelo Russell sitting out against Utah in the Mavericks’ preseason game on Monday, Flagg got the nod at the point in a jumbo lineup featuring P.J. Washington, Klay Thompson, Anthony Davis and Dereck Lively II, Marc Stein of the Stein Line tweets.

The Mavericks staff is eager to see what the No. 1 overall pick in the draft can do in different roles. Flagg responded on Monday with 11 points. He had just one assist but no turnovers.

“When you look at what Cooper’s done here, it’s been really good,” coach Jason Kidd said, per Grant Afseth of the Dallas Hoops Journal. “We’ve put him in different situations — running the offense, running plays, playing off the ball. There are things he has to improve. He’s not perfect yet, but being able to make plays and understand the game at a high level at 18 has been really cool to watch.”

Kidd plans to go with the same lineup against the Lakers, according to Afseth.

“You’ll probably see that group start again on Wednesday,” Kidd said.

Here’s more from the Southwest Division:

  • Kidd used Ryan Nembhard, who is signed to a two-way contract, as the first point guard off the bench ahead of Jaden Hardy, Mike Curtis of the Dallas Morning News notes (Twitter links). Hardy has struggled in the preseason and Kidd wants him to be more than a scorer. “I think growth has to be able to not just score the ball. We know he can do that,” the Mavericks‘ head coach said. “Can he make plays for others? Can he get us set in the offense? Being able to compete on the defensive end. He’s going to get a great opportunity in preseason to show that he has grown.” Hardy signed a three-year, $18MM extension last year which kicks in this season.
  • Grizzlies stars Ja Morant and Jaren Jackson Jr. are making good progress in their rehab from injuries, head coach Tuomas Iisalo said on Tuesday, per Damichael Cole of the Memphis Commercial Appeal. “Both guys are progressing really well and are able to do significantly more than one week ago,” Iisalo said. Morant is considered week-to-week with a sprained left ankle. Jackson is recovering from turf toe surgery. Neither has seen action in the preseason.
  • Expect Harrison Barnes to remain in a starting role with the Spurs, Jeff McDonald of the San Antonio Express-News writes (subscription required). While head coach Mitch Johnson has yet to announce an opening night lineup, Barnes has not come off the bench in any game since the 2015/16 season. He enters his 14th season riding a streak of 304 consecutive games played. “I’m just trying to be out there for every game,” said Barnes, who has an expiring $19MM contract.

Mavericks Give Jason Kidd Multiyear Extension

6:35pm: The Mavericks have officially confirmed Kidd’s extension (Twitter link).

“I’m grateful for the belief that (team owner Patrick Dumont and general manager Nico Harrison) have in me, and the trust we’ve built while working together to construct a team that Dallas can be proud of,” Kidd said in a statement, per Mike Curtis of the Dallas Morning News (Twitter link). “We have a great group of players here who love basketball, are talented & coachable. There’s mutual respect across all departments, and Patrick and Nico set the tone for what we are trying to accomplish here.

“It’s even more special that I can continue to coach the team that drafted me, and where I was able to win a title as a player. I’m looking forward to what’s ahead & continuing to work toward bringing another championship back to Dallas.”


5:26pm: The Mavericks have signed head coach Jason Kidd to a multiyear contract extension, Marc Stein of The Stein Line reports (Twitter link).

The length of the extension has not been revealed, but Dallas made its intentions to retain Kidd clear this offseason. Stein and Jake Fischer reported in early July that the Mavericks intended to sign Kidd to an extension prior to the regular season. He also received an extension after last season.

According to The Athletic’s Christian Clark, Kidd had two years left on his deal prior to the latest extension (Twitter link).

The Knicks were interested in talking to Kidd about their head coaching vacancy this summer before they eventually hired Mike Brown. The Mavs denied the Knicks’ request to speak to their head coach.

Kidd, 52, had head coach stints with Brooklyn and Milwaukee shortly after his Hall of Fame playing career ended. He served as an assistant with the Lakers before getting the Dallas job prior to the 2021/22 season.

The Mavericks reached the conference finals in his first season and lost to Boston on the 2024 NBA Finals. The team didn’t qualify for last season’s playoffs after the controversial Luka Doncic trade and a wave of injuries during the second half of the season.

Dallas wound up hitting the lottery and selecting Cooper Flagg, who will now learn the NBA game under Kidd for several seasons to come if he serves out those extensions.

Southwest Notes: Castle, Eisley, Thompson, Rockets Preseason, China

Last season’s Rookie of the Year, Stephon Castle, will make his preseason debut on Monday, Jeff McDonald of the San Antonio Express News reports.

Castle missed the Spurs‘ first three preseason contests with a right knee contusion. He suffered the injury during the team’s Oct. 4 Silver & Black scrimmage after banging knees with Victor Wembanyama.

With De’Aaron Fox expected to be sidelined at the beginning of the regular season, Castle is projected to be the Spurs’ opening-night starter at point guard.

We have more from the Southwest Division:

  • The Mavericks have hired Howard Eisley as a scout, Michael Scotto of HoopsHype tweets. Eisley was an assistant for Michigan under previous head coach Juwan Howard. He has also been an assistant coach with the Knicks, Wizards and Clippers.
  • Klay Thompson was assigned to guard Hornets point man LaMelo Ball during a preseason game, but Mavericks head coach Jason Kidd indicated the team can’t expect the 35-year-old wing to take on those matchups on a regular basis. “Melo’s a little different because he can score and pass,” Kidd said, per Grant Afseth of the Dallas Hoops Journal. “But we thought looking at that (Saturday) was something we needed to see. Making it tough on Melo isn’t easy — he’s gonna have the ball 90% of the time. But I thought Klay did a good job. He can still compete at that level at this stage of his career. We’re not going to ask him to do it every night, but (Saturday) he showed he can compete.”
  • The Rockets wrap up their preseason schedule with games on Tuesday and Thursday this week. Playing time and rotations in the next two games will be more reflective of what they want to implement in the regular season, according to Danielle Lerner of the Houston Chronicle. Starters will have their minutes increased to the mid-20s and 30-range, and the team will utilize more sophisticated schemes.
  • The Mavericks and Rockets will play a preseason game in China next year, Mike Curtis of the Dallas Morning News tweets. Mavs governor Patrick Dumont confirmed via the South China Morning Post that Dallas will participate in next season’s NBA China Games. “Yes, the Mavericks and the Rockets, here in Macau next year. Are you ready?” Dumont said.

Stein’s Latest: Giannis, Westbrook, Mavericks, Referees

If Giannis Antetokounmpo is ever traded, it’s more likely to happen during the offseason, Marc Stein of The Stein Line states in his latest Substack column (subscription required). That’s the conclusion Stein reaches after listening to the chatter out of Milwaukee since it was revealed last week that the Bucks and Knicks had trade discussions regarding the Greek superstar during the summer.

Stein cites Antetokounmpo’s response when asked about the rumor, saying that he’s happy in Milwaukee now but could reconsider his stance in “six, seven months.” He also said the idea of forcing a trade is “temptation,” adding that it “starts when the season ends (and lasts) until the season begins.”

Given that background, Stein believes this might be a “make-or-break” season regarding Antetokounmpo’s future with the Bucks. The front office took a huge gamble over the summer, waiving and stretching Damian Lillard‘s contract to create enough cap space to sign Myles Turner away from Indiana. However, the rest of the roster is virtually the same as it was when the team finished 48-34 last season and was eliminated in the first round of the playoffs. Antetokounmpo has repeatedly expressed his desire to compete for another NBA title and seems likely to revisit the idea of changing teams if Milwaukee can’t make progress toward that goal.

Antetokounmpo’s contract runs through 2026/27, with a $62.8MM player option for the following season. Stein points out that he’s about to enter the first season of a three-year, $175MM extension he agreed to shortly after the Bucks traded for Damian Lillard in 2023.

Stein shares information from around the league:

  • Russell Westbrook remains a free agent eight days away from the start of the regular season, but he appears very unlikely to continue his career overseas. League sources tell Stein that there have been “zero discussions” about that possibility. A report on Sunday indicated “strong mutual interest” between Westbrook and the Kings, and Stein’s sources say the 36-year-old guard remains focused on his next NBA opportunity, even if it doesn’t come until later in the season.
  • The Mavericks are expected to play two preseason games at The Venetian Macao resort next October, Stein hears. He adds that team owner Patrick Dumont was instrumental in helping the NBA rebuild its business relationships with China following a 2019 dispute sparked by Daryl Morey’s online support of pro-democracy protests in Hong Kong.
  • NBA referees have been wearing earpieces during the preseason to allow them to communicate easier with each other, Stein adds, and they could become standard equipment when the regular season begins.

Mavs Notes: Flagg, Chemistry, Rebounding, 2026 Preseason

There are many reasons that Cooper Flagg was the obvious choice for the Mavericks with the No. 1 pick in the 2025 draft — he’s a high-level defender, a talented shot-maker, and an underrated passer. However, there’s one trait of his that head coach Jason Kidd is most impressed by, according to Eddie Sefko of NBA.com: his toughness.

His willingness to compete at a high level and his willingness to be uncomfortable,” Kidd said when asked what parts of Flagg’s games stood out early on. “He absorbs that. I think those are his superpowers. His winning DNA – he stood in line a little bit longer to get that at a very high level. He’s all about winning.

Kidd spoke excitedly about the potential of Flagg and young center Dereck Lively II to grow together, as well as their ability to impact winning in the near-term. That quality, along with the toughness, is what Kidd values the most in Flagg.

It’s not about how many shots he gets or how many minutes or how many times he touches the ball,” Kidd said. “He’s about the team. He’s about winning. That’s the biggest thing that stands out — he competes to win.”

We have more on the Mavs:

  • Through two preseason games, Flagg is still working on establishing chemistry with his new teammates and continues to search for the best ways to complement fellow frontcourt star Anthony Davis. “I gotta find ways to help AD more,” he said, per The Dallas Morning News’ Mike Curtis (Twitter video link). “Play off him a little better. Help him impact the game when he’s posting up, getting his isos and whatnot. It’s been huge just trying to fit together. That’s what the preseason is for, just for us to come out and get that real game minutes together and kind of gel.
  • While Flagg had five turnovers in Saturday’s 120-116 loss to the Hornets, the Mavs aren’t concerned with him experimenting and finding the limits of his play-making during the preseason, writes Sefko. Of more concern is the fact that the team was badly beaten in the rebounding battle, with the Hornets pulling down 54 boards to the Mavs’ 37. Given Dallas’ jumbo-sized lineup of Flagg, Davis, and Lively, the team expects to be one of the best rebounding squads in the league, Sefko writes, and it will likely have to be, given the shooting sacrifices that such a lineup would entail. Sekfo notes that Kidd addressed the issue, saying it will be a point of emphasis for the rest of the preseason.
  • The Mavs’ owner, Patrick Dumont, was present for the matchup between the Nets and Suns in Macao, reports Brad Townsend of the Dallas Morning News (via Twitter). Dumont was a part of the effort to rebuild the NBA’s relationship with China, according to Townsend, who believes there’s a good chance the Mavs will play in China during the 2026 preseason. Marc Stein (Substack link) has heard the same thing.

Dante Exum Sidelined By Right Knee Soreness

Mavericks guard Dante Exum is dealing with pain in his right knee that has limited his availability in practice and caused him to miss his second straight preseason game tonight, according to Mike Curtis of The Dallas Morning News (Twitter link).

In a pregame meeting with reporters, coach Jason Kidd said the team is taking a cautious approach with Exum’s recovery. He indicated that Exum will be out for an extended period, but didn’t speculate on how long it might be. This is the first time anyone from the team has provided specifics on the injury that has affected Exum since training camp began.

Kidd added that the Mavs are taking a “long-term view” with Exum’s health and explained that the injury has “delayed his preparation for the start of the season,” tweets Grant Afseth of Dallas Hoops Journal.

Injuries have been a career-long issue for Exum, who only appeared in 20 games last season due to right wrist surgery and a broken left hand. He was still an effective player when healthy, making 13 starts and averaging 8.7 points and 2.8 assists in 18.6 minutes per night.

Exum reached an agreement in early July to re-sign with the team on a one-year, minimum-salary contract. The deal wasn’t finalized until September 1 because Dallas had to open a roster spot and clear up room under its second apron hard cap. That happened when the Mavs waived and stretched former first-round pick Olivier-Maxence Prosper in late August.

Dallas had been hoping for better health from the 30-year-old combo guard, as Kyrie Irving is still recovering from a torn ACL and his return date remains uncertain. In addition, Brandon Williams is dealing with a hamstring strain he suffered early in training camp.

If Exum’s absence appears to be prolonged, it could improve the chances for Dalano Banton (Exhibit 10 contract) or Dennis Smith Jr. (Exhibit 9 deal) to earn a roster spot.

Mavs Notes: Williams, Powell, Medical Staff, Camp

With Kyrie Irving injured, fourth-year guard Brandon Williams is expected to take on a larger ball-handling role with the Mavericks behind D’Angelo Russell.

Williams has spent the past two seasons with Dallas, averaging 8.3 points and 2.3 assists per game and making 40.0% of his three-point shots in 33 outings last saeson. The 25-year-old played twice for the Mavs this offseason at Summer League, where he averaged 16.0 PPG and 4.5 APG and drew the praise of head coach Jason Kidd.

I thought at the end of the summer, he was playing at a high level,” Kidd said, as relayed by Mike Curtis of the Dallas Morning News (Twitter link). “When he’s healthy, he’s a problem.

Williams’ health has been a question mark as of late, as Kidd announced on October 1 that the guard sustained a hamstring strain that would keep him out for at least a week. When asked about his status for Saturday’s preseason game against the Hornets, Williams said that he’s “playing it day-by-day,” according to Curtis (via Twitter).

As for what Kidd expects when Williams returns to the floor, the head coach said: “Growth as always. Understanding time and score, who hasn’t gotten a shot, how are we playing on the offensive end. When we have the ball, you’re a leader so some of that leadership role is something that he’s going to have to show us again this year.

We have more from the Mavericks:

  • Dwight Powell is the longest-tenured Maverick, having played the last 10-plus seasons in Dallas after a quick five-game start to his career in Boston. Having seen many iterations of the team, he’s excited about the season to come, writes Eddie Sekfo for NBA.com. “It’s one thing to be talented,” Powell said. “But you got to have that competitive edge and want to compete on every possession. Our ability so far to be able to do that in practice is a great sign for what’s to come in the season ahead. That’s something I’m very excited about.” With Daniel Gafford injured, Powell has a better chance to earn minutes early in the season than he will when the team is fully healthy, but regardless of his role, he’s ready to contribute any way he can. “I try my best,” he said. “Try my best to help any way I can, be a spark where I can and lead where I can. And find ways to help us be successful. That role’s going to change throughout the year. You just got to be ready for the opportunities.”
  • After facing a slew of injuries last season, most notably to Anthony Davis, Luka Doncic, and Irving, the Mavs overhauled their medical staff this season, writes Curtis. Curtis notes that last year’s team was one of the NBA’s most injured, losing 444 total man games. In the hopes of reversing that trend, the Mavs promoted Jana Austin from assistant athletic trainer to head athletic trainer and hired Geoff Puls from the Bulls as their head of strength and performance. They also let go of Dionne Calhoun, who had been with the team for 21 years. Johann Bilsborough, who was at the center of an in-depth article last season detailing the turmoil within the Mavs’ health and performance team, will oversee the staff for the second straight year.
  • One of the changes the Mavericks will have to deal with this season, especially while Irving recuperates, is adjusting to a more egalitarian style that relies less on a ball-dominant guard like Doncic, Sekfo writes. “In this league or any league as a coach, you got to be able to pivot with the roster you have,” Kidd said. “This is a different roster than I’ve had in the past. When you have players that I’ve had, you play to their strengths. This team is different. So to be able to be big and play with that type of pace is to our advantage.” Kidd noted that players like Russell and Klay Thompson will likely benefit from the team’s emphasis on pushing the pace.

NBA GMs Expect Thunder To Repeat, Jokic To Win Fourth MVP

NBA general managers view the Thunder as the overwhelming favorite to repeat as champions this season, according to the 24th annual GM survey conducted by John Schuhmann of NBA.com. GMs were not allowed to vote for their own team or personnel.

Eighty percent of general managers predicted Oklahoma City to win the 2026 NBA Finals, with the Cavaliers and Nuggets tied for second at 7% each. The Rockets and Knicks were the only other teams to receive votes.

If the Thunder do go back-to-back, they would be the first repeat champions since Golden State in 2018.

Still, it’s worth noting that 83% of GMs thought Boston would win its second consecutive title in 2025 during last year’s edition of the survey, and the Celtics wound up being eliminated in the second round of the playoffs.

Three-time MVP Nikola Jokic is heavily favored to win his fourth award in 2025/26. The Nuggets superstar received 67% of the vote and was also tabbed as the league’s best center (maximum possible 97%), best international player (93%), best passer (80%), the player with the best basketball IQ (80%), and the player who forces opposing coaches to make the most adjustments (57%).

NBA GMs view Rockets guard/forward Amen Thompson as the league’s most athletic player (58%) and most versatile defender (18%), as well as the player most likely to have a breakout season (30%).

For the second straight year, Spurs center Victor Wembanyama was tabbed as the best player to build a franchise around, receiving 83% of the vote. The French center was also voted the league’s best defender (80%) and tied with Bucks forward Giannis Antetokounmpo for the league’s most versatile player (30% apiece).

Unsurprisingly, Mavericks forward Cooper Flagg is the runaway favorite to win Rookie of the Year, claiming the maximum 97% of the vote. General managers also think he’s the rookie who will be the best player five years from now (93%).

Fifty-three percent of GMs surveyed think the Hawks made the best offseason moves, while 47% believe the Magic will be the most improved team this season.

According to general managers, Milwaukee made by far the two most surprising offseason moves: waiving and stretching Damian Lillard (43%), and subsequently signing Myles Turner in free agency (30%).

Schuhmann’s survey is worth checking out in full and can be found right here.