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Warriors, Lakers Top 2025 NBA Franchise Valuations

October 16th, 2025 at 8:48am CST by Luke Adams

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.

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Pacific Notes: Butler, Goodwin, Luka, Reaves, Warriors

October 15th, 2025 at 3:52pm CST by Luke Adams

The Suns came into the preseason carrying 13 players on guaranteed salaries, with Jordan Goodwin on a partially guaranteed deal and Jared Butler on a non-guaranteed contract. Given that Phoenix projects to operate slightly over the luxury tax line even without a 15th man, the expectation was that only one of Goodwin or Butler would make the team. However, both players finished the preseason strong on Tuesday, as Duane Rankin of The Arizona Republic writes.

Earning the start in the Suns’ 113-104 win over the Lakers, Goodwin had 24 points and six assists in 37 minutes of action, with a team-high +14 plus/minus rating. But his fellow starter in the backcourt was even better, as Butler racked up 35 points, nine assists, and seven rebounds in 34 minutes, making 14-of-25 shots from the field, including 5-of-9 three-pointers.

In Rankin’s view, Butler’s spot on the regular season roster is still far from a sure thing. But if he ends up being waived by the Suns, the 25-year-old has certainly shown he deserves consideration for a spot on another NBA roster.

“I’m just still believing in myself, and I’m just hoping that people catch up with the faith that I have in myself,” Butler said after Tuesday’s game (Twitter video link via Rankin).

Here’s more from around the Pacific:

  • It took some time for the shock of his trade out of Dallas to wear off last winter, but as Lakers guard Luka Doncic made his preseason debut on Tuesday, his teammates and coaches suggested that he seems looser and more comfortable with his situation this fall, per Dan Woike of The Athletic. “I think by being in a clearer headspace, and by that I mean just mentally and emotionally in balance, it allows you the freedom to just be yourself,” head coach JJ Redick said of Doncic. “And that gets reflected in his expressions, his interactions with teammates, his interactions with our coaching staff, his desire to toe that line between competition and joy and playfulness that truthfully makes him the special person and player that he is.”
  • Even though Austin Reaves is unlikely to sign an extension with the Lakers ahead of his free agency, he’s still likely to stay in Los Angeles beyond his current contract, according to Keith Smith of Spotrac, who takes a closer look at the guard’s potential earnings going forward. Smith believes a five-year deal that begins in 2026/27 and is worth in the neighborhood of $150MM could make sense for both Reaves and the Lakers.
  • Making an appearance on SiriusXM NBA Radio (SoundCloud link), Warriors general manager Mike Dunleavy Jr. spoke about a handful of topics, including why the team targeted Al Horford in free agency and building a contending roster around aging stars with the long-term view still in mind. “You’re balancing everything,” Dunleavy said. “You’re balancing your future assets, you’re balancing the cap. You’re trying to thread the needle of staying good now and having a chance to be good in the future. That’s the fun and the challenge of this job.”
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Warriors Waive Marques Bolden, Taevion Kinsey

October 15th, 2025 at 12:42pm CST by Luke Adams

The Warriors have cut two players from their preseason roster, announcing today in a press release that center Marques Bolden and guard Taevion Kinsey have been placed on waivers (Twitter link).

Bolden and Kinsey both signed Exhibit 10 contracts with Golden State at the start of training camp and were with the team through four preseason games.

Bolden, who has appeared in 18 total NBA regular season games for Cleveland, Milwaukee, and Charlotte since making his debut in 2020, saw action in two preseason contests for the Warriors. The 27-year-old out of Duke put up nine points and four rebounds in 11 total minutes of action.

Kinsey, who went undrafted out of Marshall in 2023, has signed two Exhibit 10 deals, a two-way contract, and a 10-day contract with Utah since then, but has yet to appear in an NBA regular season game. The 6’5″ wing saw limited action in three of Golden State’s preseason matchups, going scoreless in 13 total minutes with a pair of rebounds and an assist.

The Santa Cruz Warriors – Golden State’s G League affiliate – made trades this offseason to acquire Bolden’s and Kinsey’s returning rights, so it’s a safe bet that both players will end up in Santa Cruz this fall. They’d each earn a bonus worth $85,300 by spending at least 60 days with the Warriors’ affiliate.

Golden State now has two open spots on its 21-man preseason roster.

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Al Horford Explains Celtics Exit, Hopes To Retire With Warriors

October 14th, 2025 at 11:45am CST by Luke Adams

After returning to the Celtics for a second stint in 2021, Al Horford seemed like he was on track to spend the rest of his NBA playing career in Boston. However, at age 39, the veteran big man decided this summer to leave the Celtics because “they just weren’t in a position to offer me the opportunity that I wanted,” he explained to Nick Friedell of The Athletic.

After winning a title in 2023/24 and racking up 61 more regular season wins in ’24/25, the Celtics are expected to take step backward in ’25/26 as a result of Jayson Tatum‘s postseason Achilles tear, as well as financially motivated offseason trades involving Kristaps Porzingis and Jrue Holiday. Due to its desire to shed salary, the club also wasn’t in position to offer free agents like Luke Kornet and Horford the kind of contracts they’d earned.

“There was two things there,” Horford said. “I think the financial part was a component, but more than that, it was the winning part of it, trying to contend for a championship. And I think there was a lot of things up in the air — and it just felt like they weren’t in the same, that same vision, obviously, because JT getting hurt, that takes a big toll. So I think at that point I really had to — up until then I was staying in Boston the whole time.

“… I think once that offseason happened and it started to progress, it became clear to me the team had different priorities. Obviously, getting rid of Jrue, getting rid of Kristaps. And I know it’s all salary stuff, but it was like a domino effect, and it was tough for me. It was a tough decision, but my wife and I, we prayed about it. I knew that it had to be something that was gonna be — that my family had to be on board with me for us to proceed in something like this. And that was it.”

Horford ended up signing with the Warriors on a two-year contract worth the full taxpayer mid-level exception that includes a second-year player option and a 15% trade kicker.

While the deal didn’t officially get done until October 1 due to Golden State’s desire to resolve Jonathan Kuminga‘s restricted free agency before hard-capping itself at the second tax apron, Horford knew much earlier in the summer that he’d become a Warrior. He tells Friedell that recruiting pitches from Stephen Curry and Draymond Green played a role in his decision.

“Yeah, I had communication with them, with Steph and Draymond,” Horford said. “And that was important. It happened very fast because it was at a point where they came to me and they’re like, ‘Hey, we’d love to have you,’ and all these things. And it was one of these things that, for me, looking at this fit and the potential, it just felt right. So them reaching out to me was important.”

Given the fact that his new contract includes a second year, Horford may still have multiple seasons left in the NBA. Still, his hope for now is that he’s able to finish his career in Golden State.

“I think at this point in my career, where I see everything, that is my expectation, just to be here,” he said.

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Pacific Notes: Kings, Butler, Warriors, Clippers, K. Brown

October 14th, 2025 at 7:44am CST by Luke Adams

Keegan Murray‘s thumb injury creates a difficult lineup decision for the Kings, who don’t have much reliable depth behind the former No. 4 overall pick at power forward, writes James Ham of The Kings Beat.

“It’s tough because Keegan has size, strength, athleticism and he shoots 40 percent [from 3-point range], I think everyone is looking for that,” head coach Doug Christie said on Sunday. “We have a couple of different guys that can equal Keegan, but we don’t have Keegan, so replacing him is definitely going to be difficult.”

The Kings have a pair of preseason games still to come on Wednesday and Friday, and Christie said he intends to “try a couple of different things” during those contests as he weighs his options for a fifth starter alongside Dennis Schröder, Zach LaVine, DeMar DeRozan, and Domantas Sabonis.

As Ham writes, veterans Dario Saric and Drew Eubanks and rookies Nique Clifford and Maxime Raynaud are among the potential candidates for the role, but the Kings have more depth in the backcourt, where Malik Monk and Keon Ellis currently project to come off the bench. The team’s thin depth chart at the four is one reason why Sacramento was so interested in Warriors restricted free agent Jonathan Kuminga this offseason, Ham notes.

We have more from around the Pacific:

  • Warriors forward Jimmy Butler won’t play on Tuesday vs. Portland after spraining his ankle in a Friday practice, tweets Anthony Slater of ESPN. However, the injury isn’t considered serious and head coach Steve Kerr is hopeful that Butler will return for Friday’s preseason finale vs. the Clippers.
  • After ESPN’s Kevin Pelton projected the Warriors to win 56 games, the second-most in the NBA, his ESPN colleague Zach Kram breaks down why Golden State could be more dangerous than the general consensus suggests. Kram cites Al Horford‘s potential impact, a well-balanced roster, and the fact that the Warriors have fewer obvious question marks than several of their Western Conference rivals.
  • Within a report detailing how the NBA approved the Clippers‘ initial sponsorship agreement with the green-bank company Aspiration in 2021, Bobby Marks and Baxter Holmes of ESPN note that people familiar with the investigation into the Clippers and Kawhi Leonard believe the probe will take months, perhaps not wrapping up until after the 2026 playoffs. The league hired the law firm Wachtell Lipton, Rosen & Katz to look into whether the Clippers circumvented the salary cap by paying Leonard via a separate “no-show” endorsement deal with Aspiration.
  • Clippers forward Kobe Brown, a first-round pick in 2023, believes he’s a “way better” player now than he was when he entered the NBA two years ago, but he also recognizes that his role may still be limited due to the team’s impressive veteran depth, writes Janis Carr of The Orange County Register. He’s OK with that if head coach Tyronn Lue determines it’s what’s best for the club. “If the team’s winning, I’m winning,” Brown said. “I don’t look at it as a negative thing. I just do my job basically.”
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Moses Moody To Miss Remainder Of Preseason

October 12th, 2025 at 8:01pm CST by Eli Cohen

Moses Moody will miss the final three games of the Warriors‘ preseason due to a left calf injury, reports ESPN’s Anthony Slater (via Twitter).

According to head Steve Kerr, the Warriors are “not too concerned” about the injury, which occurred in practice. Slater adds that the team is hopeful that Moody can return in time for the season opener.

Moody started both of the Warriors’ preseason games to this point, averaging 14.5 points and 1.0 steal per contest while hitting seven of his 12 three-point attempts.

After years of being in and out of the Warriors’ rotation, Moody seems to have finally carved out a role for himself as a floor spacer and versatile wing defender in Kerr’s main rotation. If he were to miss time to open the season, it could open the door for Brandin Podziemski and Buddy Hield to earn extra minutes.

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Warriors Notes: Starting Lineup, Moody, Kuminga, Podziemski

October 11th, 2025 at 11:01pm CST by Arthur Hill

Warriors coach Steve Kerr is intrigued by the starting lineup he used in Wednesday’s victory over Portland and wants to see it in action again before the preseason ends, according to Sam Gordon of The San Francisco Chronicle (subscription required). After going with a small-ball approach in the preseason opener while bringing Al Horford off the bench in his Golden State debut, Kerr made Horford a starter against the Trail Blazers along with Stephen Curry, Moses Moody, Jimmy Butler and Draymond Green.

“That could be a really powerful combo,” Kerr said. “I didn’t have a great sense of it after the game because I was thinking so much of our turnovers and our lack of focus at times during the first half. But looking at the tape, it was a lot better than I expected for those first seven minutes or so.”

Kerr likes having more size on the court to start the game, especially with Horford, who shoots well enough from three-point range to give everyone else plenty of room to operate. The group only played together for a little more than half of the first quarter before Kerr began making substitutions, and the veterans rested in the second half.

“You can tell with all the different lineups, we know that there’s still going to be a lot to work on in terms of the chemistry and just the certain combinations,” Curry said. “That’s part of the journey of training camp. But I just like the vibe and the intentionality that we’re all coming with, understanding that we need to get off to a good start. And trying to make that happen.”

There’s more on the Warriors:

  • That starting group won’t be together on Sunday when Golden State faces the Lakers, Gordon adds. Kerr said Saturday that Butler has an excused personal absence for the game, while Curry and Horford will be held out. Green will start alongside Brandin Podziemski, Buddy Hield, Jonathan Kuminga and Quinten Post, according to Anthony Slater of ESPN (Twitter link).
  • Moody was set to undergo an MRI on Saturday for a calf issue, Slater tweets. Kerr said it’s believed to be minor, but the imaging is being done as a precaution.
  • Kuminga and Podziemski come from different parts of the world and had polar opposite experiences as children, but they find themselves in the same position of competing for larger roles with the Warriors, observes Bruce Jenkins of The San Francisco Chronicle (subscription required). Kuminga, who grew up in the Congo, tends to be calm and peaceful while looking the part of an NBA star, Jenkins states. Podziemski is much more of an extrovert after years of having to prove himself against elite competition.
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Warriors Notes: Kuminga, Kerr, Podziemski, Horford

October 11th, 2025 at 12:00pm CST by Rory Maher

Jonathan Kuminga‘s restricted free agency saga was finally resolved on September 30, when the 23-year-old forward re-signed with the Warriors on a two-year, $46.8MM deal. Despite the lengthy negotiations and a contract that could make him a prime trade candidate, Kuminga tells Marc J. Spears of Andscape he’s “at peace” with his situation and doesn’t feel any anxiety about the future.

“I don’t think about things like that. I let the day just tell us what’s going to happen,” Kuminga said. “But when it comes to future stuff and things like that, no. I don’t worry about things like that. I just try to get better. You never know with this life. It’s the NBA. One day you’re going to be here. One day you’re going to be somewhere else.

“The biggest thing about it is just to work and just get better every day and be a winner. No matter where I’ll be, no matter if I’m going to be here or they might ship me somewhere else. I just want to get to wherever I’ll get, or be here and just be involved and win and impact right away. That is my biggest concern. I’m at that point now where I’ve got a couple years in now. So, I know what’s right and what is not right.”

Kuminga acknowledged some frustration with the way his role has fluctuated during his time with Golden State and said he doesn’t plan to bring the topic up with head coach Steve Kerr. For his part, Kerr still believes Kuminga can be an important piece for the Warriors, according to Spears.

“It’s been an interesting fit,” Kerr told Andscape. “He’s made it pretty clear that he wants the ball and an opportunity that a lot of his cohorts get and people that were drafted near him. And we weren’t able to offer that. We were a championship team. We won the title his rookie year (2021/22) and have been in the mix the last few years. So, it’s been tough. I respect the fact that he is competing and fighting in a set of circumstances that maybe isn’t ideal for him. But the thing I keep telling him is he can play a role for us, absolutely, with his size, speed and athleticism.

“He can play an important role on a very good team. He just turned 23 (on Monday). He has plenty of basketball ahead. One day, hopefully, he will look back on this as a valuable time in his career. But I know he’s frustrated. He’s made it very clear publicly. I don’t mind that, but I want him to embrace the idea that he can be a part of something special.”

Here’s more on the Warriors:

  • As he enters his third season, guard Brandin Podziemski hopes to take major strides in multiple aspects of his game, writes Nick Friedell of The Athletic. In order to do so, Podziemski knows he’ll have to do a better job of regulating his emotions. “There’s a next step in evolving emotionally, and as a leader,” Podziemski told The Athletic. “Having confidence from your teammates is one thing, especially the vets, but them trusting you in big moments that could define their career. Could add another piece to their career. For them to have trust in you is a different thing, and you got to earn that over time, and I think that’s a goal of mine going into this season.”
  • Veteran center Al Horford has quickly developed impressive chemistry with two-time MVP Stephen Curry, Friedell adds in another story. “It’s a level of awareness that I’ve never really had to think about before,” Horford said of playing with Curry. “But when I’m on the floor with him, the whole mindset is trying to make the game easier for him. And for me, that is either getting him the ball, or setting a good screen, or doing anything that I can to make sure that our offense moves and flows. He’s such a smart player that it’s easy to play off of him. And sometimes he’ll kind of tell you what to do. He passed me that ball, but I knew that he was gonna cut, so I guess that’s the unspoken (chemistry) he’s talking about right there. He expected me to pass the ball and I did.”
  • Erik Spoelstra is expected to be named the new head coach of the United States’ men’s basketball team. Kerr believes USA Basketball made a great choice, per Kenzo Fukuda of Clutch Points (Twitter video link; hat tip to Kurt Helin of NBC Sports). “Spo’s an incredible, phenomenal coach. Watching him the last two summers, getting to know him up close… Spo was the perfect choice.”
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Taran Armstrong Signs With Dubai Basketball

October 10th, 2025 at 7:15am CST by Dana Gauruder

October 10: Dubai Basketball has officially announced its deal with Armstrong. According to the team, the contract is for one year, with an option on year two.

October 8: Australian point guard Taran Armstrong, who signed a two-way contract with the Warriors late last season, has agreed to a contract with Dubai Basketball in the EuroLeague, ESPN’s Olgun Uluc reports.

It’s a two-year deal that includes an NBA exit clause for the 2026 offseason, according to Donatas Urbonas of BasketNews.

Armstrong didn’t appear in a Warriors game after signing a two-way contract in late February. He played 11 games for their G League affiliate, the Santa Cruz Warriors, and averaged 11.5 points, 8.2 assists, 5.9 rebounds and 1.4 steals in 28.5 minutes per contest.

Golden State issued Armstrong a two-way qualifying offer in June and it was still on the table as of October 1, the deadline for him to accept it. Since Armstrong signed with a non-NBA team, the Warriors have the ability to continue issuing him qualifying offers in future seasons to retain his restricted free agent rights, as they’ve done with Nico Mannion in recent years.

The Serbian club KK Partizan was also reportedly interested in signing Armstrong. The 23-year-old, who played for the Warriors’ Summer League team, joins a Dubai Basketball team that made its debut in the EuroLeague in late September with an 89-76 win over Partizan.

Armstrong played for the Cairns Taipans in Australia’s National Basketball League before joining the Warriors. He averaged 17.1 points, 4.6 rebounds and 4.7 assists per game for that club.

Dubai Basketball’s roster also includes former NBA players Davis Bertans, Dwayne Bacon and Justin Anderson.

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2025/26 NBA Over/Unders: Pacific Division

October 7th, 2025 at 11:45am CST by Luke Adams

With the 2025/26 NBA regular season tipping off later this month, 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 continue our series today with the Pacific Division…

Los Angeles Clippers

Los Angeles Lakers

Golden State Warriors

Sacramento Kings

Phoenix Suns

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%)

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%).
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