Timberwolves Rumors

And-Ones: Payne, Key, Raman, Breakout Players

EuroLeague team Partizan Belgrade has expressed “serious” interest in free agent point guard Cameron Payne, reports Marc Stein of The Stein Line (via Twitter).

As Stein notes, the Serbian club is looking for a backcourt replacement in the wake of a serious ankle injury to former NBA guard Carlik Jones, who will reportedly miss three months of action.

Payne has spent most of the past 10 seasons in the NBA after being selected 14th overall in 2015. He appeared in 72 regular season games with the Knicks in 2024/25, averaging 6.9 PPG and 2.8 APG in 15.1 MPG.

The 31-year-old went unsigned for nearly the entire offseason prior to catching on with Indiana on October 9. However, Payne didn’t play well during the preseason, and the Pacers decided to waive him before ’25/26 began even though they had (and still have) several backcourt injuries.

Here are a few more odds and ends from around the basketball world:

  • Four-year NBA veteran Braxton Key, who spent all of training camp and the preseason with Memphis before being cut last week, has officially signed a rest-of-season deal with Valencia Basket, the Spanish team announced in a press release (hat tip to Eurohoops). The 28-year-old forward was named G League Defensive Player of the Year last season and finished out ’24/25 on a standard contract with Golden State.
  • Sonia Raman, who was an assistant coach with the Grizzlies from 2020-24 prior to spending last season as an assistant with the WNBA’s New York Liberty, has agreed to a multiyear contract to become the Seattle Storm’s new head coach, sources tell Shams Charania of ESPN (Twitter link). The Storm also compete in the WNBA.
  • John Hollinger of The Athletic lists 12 players he believes are primed for breakout seasons, including younger stars like Spurs center Victor Wembanyama and Lakers guard Luka Doncic, as well as more under-the-radar players such as Raptors big man Sandro Mamukelashvili and Timberwolves guard Terrence Shannon Jr. A pair of young Wizards wings — Cam Whitmore and Kyshawn George — are also breakout candidates, according to Hollinger.

2025 NBA G League Draft Results

The NBA G League held its draft for the 2025/26 season on Saturday afternoon. Players who signed NBAGL contracts and whose rights weren’t already controlled by a team were part of the draft pool.

Affiliates from all 30 NBA teams took part in the draft, along with the unaffiliated Mexico City Capitanes.

Dillon Jones, who was a first-round pick in the 2024 NBA draft, was selected No. 1 overall by South Bay, which is the Lakers’ G League affiliate.

The 23-year-old small forward was drafted out of Weber State by Oklahoma City with the 26th pick last summer. He appeared in 54 games as a rookie, but only played 10.2 minutes per night and averaged 2.5 points, 2.2 rebounds and 1.1 assists.

The Thunder traded Jones to Washington in June to clear a spot on their roster. The Wizards waived him last weekend and still owe him $2,753,280 for the remainder of the season.

Drafting Jones to South Bay won’t prevent another NBA team from signing him, since holding a player’s G League rights doesn’t mean teams control his NBA rights. However, it will give the Lakers a chance to take a first-hand look at him before potentially offering a standard or two-way contract.

With the second pick, the Osceola Magic selected Tyler Smith, who lost a battle for the Bucks’ final roster spot and was waived last Sunday. The 20-year-old power forward was expected to draw interest as a two-way target, but it doesn’t appear any offers have materialized yet. Smith, who started his career with the now-defunct G League Ignite, was taken with the 33rd pick in last year’s NBA draft.

The Wizards’ affiliate, the Capital City Go-Go, had three of the next four picks, selecting Ace Baldwin at No. 3, Nolan Hickman at No. 5 and Cam Carter at No. 6.

Two notable second-generation players were selected in today’s draft. Jamal Mashburn Jr. was taken at No. 8 by the Westchester Knicks, and Jabri Abdur-Rahim, whose father Shareef serves as G League president, went to the Stockton Kings at No. 29.

Here are the full 2025 G League draft results:


Round One:

  1. South Bay Lakers (Lakers): Dillon Jones
  2. Osceola Magic (Magic): Tyler Smith
  3. Capital City Go-Go (Wizards): Ace Baldwin
  4. Grand Rapids Gold (Nuggets): Adama Bal
  5. Capital City Go-Go (Wizards): Nolan Hickman
  6. Capital City Go-Go (Wizards): Cam Carter
  7. Motor City Cruise (Pistons): Stefan Todorovic
  8. Westchester Knicks (Knicks): Jamal Mashburn Jr.
  9. Greensboro Swarm (Hornets): Ethan Taylor
  10. Raptors 905 (Raptors): A.J. Hoggard
  11. Texas Legends (Mavericks): Kario Oquendo
  12. Grand Rapids Gold (Nuggets): Kenan Blackshear
  13. Oklahoma City Blue (Thunder): Vinicius da Silva (Brazil)
  14. Sioux Falls Skyforce (Heat): Josh Cohen
  15. Texas Legends (Mavericks): Cearius Warren (St. Thomas University)
  16. Osceola Magic (Magic): Ebenezer Dowuona
  17. Oklahoma City Blue (Thunder): John Harge (Adams State University)
  18. Birmingham Squadron (Pelicans): Tray Jackson
  19. Westchester Knicks (Knicks): Jaden Seymour
  20. Birmingham Squadron (Pelicans): Chris Mantis
  21. College Park Skyhawks (Hawks): Tyrin Lawrence
  22. Raptors 905 (Raptors): JP Pegues
  23. Greensboro Swarm (Hornets): Olisa Akonobi
  24. Oklahoma City Blue (Thunder): No pick
  25. South Bay Lakers (Lakers): Selton Miguel
  26. Motor City Cruise (Pistons): O’Mar Stanley
  27. Noblesville Boom (Pacers): Ben Coupet Jr.
  28. Salt Lake City Stars (Jazz): Des Watson
  29. Stockton Kings (Kings): Jabri Abdur-Rahim
  30. Salt Lake City Stars (Jazz): Carter Whitt
  31. Capital City Go-Go (Wizards): J.Z. Zaher

Round Two:

  1. Texas Legends (Mavericks): Sean Durugordon
  2. Stockton Kings (Kings): No pick
  3. Salt Lake City Stars (Jazz): Jermaine Couisnard
  4. Sioux Falls Skyforce (Heat): Dischon Thomas
  5. Valley Suns (Suns): Bryce Thompson
  6. Sioux Falls Skyforce (Heat): Darius Maddox
  7. Santa Cruz Warriors (Warriors): Derrin Boyd
  8. Austin Spurs (Spurs): Pierre Crockrell II
  9. Grand Rapids Gold (Nuggets): Markeese Hastings
  10. Maine Celtics (Celtics): Vance Jackson
  11. Texas Legends (Mavericks): Chandler Baker
  12. Osceola Magic (Magic): No pick
  13. Wisconsin Herd (Bucks): Onno Steger
  14. Iowa Wolves (Timberwolves): Donte Ingram
  15. Memphis Hustle (Grizzlies): Kobe Webster
  16. Sioux Falls Skyforce (Heat): Tyler Hawkins (Barry University)
  17. Motor City Cruise (Pistons): Jason Hubbard (Taylor University)
  18. Wisconsin Herd (Bucks): T.J. Weeks
  19. Grand Rapids Gold (Nuggets): No pick
  20. Austin Spurs (Spurs): No pick
  21. Capital City Go-Go (Wizards): No pick
  22. Noblesville Boom (Pacers): Ahmaad Rorie
  23. Maine Celtics (Celtics): Nicolas Timberlake
  24. Oklahoma City Blue (Thunder): No pick
  25. Rip City Remix (Trail Blazers): No pick
  26. Texas Legends (Mavericks): No pick
  27. Santa Cruz Warriors (Warriors): Franco Miller Jr.
  28. Motor City Cruise (Pistons): Ray Harrison
  29. Wisconsin Herd (Bucks): No pick
  30. Westchester Knicks (Knicks): Fousseyni Drame
  31. Osceola Magic (Magic): No pick

Teams will fill out their rosters with affiliate players, returning rights players, tryout players, and players who are assigned to the G League from the NBA roster (including those on two-way contracts).

G League training camps open on Monday, with this year’s NBAGL Tip-Off Tournament getting underway on November 7. The Tip-Off Tournament will be played over about a month-and-a-half and will be followed by the G League regular season, which begins on December 19.

Wolves To Start DiVincenzo, Move Conley To Bench

Donte DiVincenzo will open the 2025/26 season as the Timberwolves‘ starting point guard, reports NBA insider Chris Haynes (Twitter link).

The move means that veteran point guard Mike Conley will shift to a bench role, though he’ll remain a “vital piece” for the team, according to Haynes.

Conley has appeared in 171 games for the Wolves since being acquired from Utah in a mid-season trade at the 2023 deadline, starting 164 of them. The seven-game stretch in which he came off the bench occurred in January 2025, when head coach Chris Finch made this same lineup change, with DiVincenzo starting in Conley’s place. That experiment came to an end when DiVincenzo injured his toe and was sidelined for over a month.

Conley, who is entering his 19th year in the NBA, turned 38 earlier this month and can no longer be counted on to regularly play 30-35 minutes per night at this stage in his career. He averaged a career-low 24.7 MPG last season and contributed 8.2 points, 4.5 assists, and 2.6 rebounds per contest. It looks like removing him from the starting five is a way for Finch and the Wolves to better manage his playing time rather than a signal that they don’t trust him in that role anymore.

For what it’s worth, the five-man lineup consisting of DiVincenzo, Anthony Edwards, Julius Randle, Jaden McDaniels, and Rudy Gobert had a +4.6 net rating in 213 minutes last season. That same group with Conley in DiVincenzo’s place posted a +3.2 mark in 714 minutes.

NBA Teams With Open Roster Spots

Each of the NBA’s 30 teams is permitted to carry 15 players on standard contracts and three on two-way deals once the regular season begins, which works out to a maximum of 540 players across 30 rosters.

[RELATED: 2025/26 NBA Roster Counts]

Of those 540 potential roster spots, 522 are currently occupied to open the 2025/26 season, leaving 18 open roster spots around the NBA across 17 teams. Here’s the full breakdown of those 18 openings around the league:

One open standard roster spot and one open two-way slot

  • Cleveland Cavaliers

The only team operating above the second tax apron, the Cavaliers are likely in no hurry to fill the 15th spot on their standard roster, which would cost them exponentially more in tax penalties beyond the player’s salary. Cleveland also has the ability to make changes involving its 14th roster spot at some point if it wants to — Thomas Bryant minimum-salary contract is fully non-guaranteed, so he’d only be owed a prorated portion of his salary if he’s waived at some point on or before January 7.

While two-way players don’t count against the salary cap, they still earn modest salaries (half the rookie minimum), so it’s possible the Cavs will look to save a little money on the league’s priciest roster by holding their third two-way slot open for the time being. A team that has an open standard roster spot is also limited to 90 overall active games for its two-way players instead of 50 apiece, so the Cavs probably aren’t looking to use up many of those games early in the season if they can help it.

One open standard roster spot

  • Atlanta Hawks
  • Boston Celtics
  • Denver Nuggets
  • Detroit Pistons
  • Golden State Warriors
  • Houston Rockets
  • Los Angeles Clippers
  • Los Angeles Lakers
  • Miami Heat
  • Minnesota Timberwolves
  • New York Knicks
  • Orlando Magic
  • Philadelphia 76ers
  • Phoenix Suns
  • Toronto Raptors

Many of these teams are carrying an open roster spot for luxury tax reasons. The Celtics, Nuggets, Warriors, Rockets, Clippers, Lakers, Timberwolves, Knicks, Magic, Sixers, Suns, and Raptors are all over the tax line, while the Heat don’t have much breathing room below it.

Most of those teams will add 15th men eventually, but won’t do so yet. Several of them – Golden State, Houston, both L.A. teams, New York, and Orlando – actually can’t do so yet, since they’re operating so close to their respective hard caps.

The Hawks have room under the tax line for a 15th man, but of all the teams in this group, the Pistons could be the best bet to fill their open roster spot sooner rather than later. They’re well more than $20MM below the tax line, so there are no concerns related to finances or spending flexibility. Still, given that Jaden Ivey is the only player on the roster dealing with more than a day-to-day injury right now, there’s no urgency to bring in a 15th man immediately.

One open two-way slot

  • Brooklyn Nets

In the past, a team without a G League affiliate of its own might be slow to fill its two-way contract slots, but all 30 NBA clubs now have affiliates in the NBAGL, so outside of thriftiness, there’s no real excuse not to carry a full complement of two-way players once the G League season begins in the coming weeks.

That’s especially true for the Nets, whose team salary is the lowest in the league entering the season. With so many rookies on the team’s standard roster, a third two-way player might not see any action at the NBA level anytime soon, but it would still make sense for Brooklyn to bring in another young prospect to develop in the G League.

Northwest Notes: Jazz, Blazers, Conley, Edwards, Thunder

Speaking to Tony Jones of The Athletic about the Jazz beginning construction on a new practice facility outside of downtown Salt Lake City, team owner Ryan Smith expressed optimism about the direction of the franchise, despite the fact that its win total has declined in each of the past four seasons.

“I think (new president of basketball operations) Austin (Ainge) is a star. I think (head coach) Will (Hardy) is a star,” Smith said. “I think we have one of the most exciting front offices in the league. We have a lot of picks and a lot of flexibility.”

After racking up 52 victories in 2020/21, Smith’s first year on the job, the club has won 49, 37, 31, and 17 in the years since then, embarking on a full-fledged rebuild during that time. While Smith is eager for the Jazz to begin reversing that trend and climbing back up the NBA standings, he acknowledged he can’t rush the process and has to exercise some patience.

“The picks aren’t coming fast enough for me, but I know this is the NBA. You have to grow the talent,” he told Jones. “We have brought in a lot of people who have a lot of rings. So, the ultimate goal is to win titles. That’s what matters. I understand that’s also the goal of every other team, so it’s really difficult and winning happens rarely. We just have to hit on these picks and keep stacking good decisions. It’s good to have Taylor (Hendricks) back. Walker (Kessler) is coming along. We just have to grow the guys.”

Here’s more from around the Northwest Division:

  • Sean Highkin of Rose Garden Report (Substack link) evaluates the extensions the Trail Blazers completed this week with Toumani Camara and Shaedon Sharpe, dubbing Camara’s four-year, $81MM deal a win-win for the forward and the team, while suggesting that Sharpe’s four-year, $90MM contract represents more of a “calculated risk” for the two sides. As Highkin writes, Sharpe still has All-Star upside entering his age-22 season, but there’s certainly no guarantee he’ll reach that ceiling.
  • Retirement isn’t a consideration in the short term for Timberwolves point guard Mike Conley, who said ahead of his 19th NBA season that he’s “looking forward to trying to get to 20 and see what happens,” according to Sam Yip of HoopsHype. “There hasn’t been a day that I have felt like I should retire yet,” Conley said within a larger Q&A. “… I think it’ll come to a point where you get kind of overwhelmed with the amount of work you have to do in order to stay at par to keep up with these guys, that it just becomes too much. But so far it’s not there, so hopefully we can squeeze a little bit more juice out of this thing.”
  • In an in-depth story for The Athletic, Jon Krawczynski examines Anthony Edwards‘ drive to continue improving and his determination to win an NBA championship after being ousted in the Western Conference Finals in each of the past two years. Edwards is listed as questionable to play in Wednesday’s season opener in Portland due to back spasms, per the Timberwolves (Twitter link).
  • Did the defending champion Thunder peak last season, will they peak this season, or are the best years for this core still ahead of them? Zach Kram of ESPN considers that question, outlining why all three possibilities are viable. Oklahoma City picked up its first win of the season in dramatic fashion on Tuesday, beating Houston by one point in a double-overtime thriller after Thunder players received their championship rings.

Wolves Exercise 2026/27 Options On Rob Dillingham, Terrence Shannon Jr.

The Timberwolves have picked up the third-year options for guards Rob Dillingham and Terrence Shannon Jr., the team announced in a press release.

The decisions guarantee Dillingham’s $6,889,320 and Shannon’s $2,801,640 salaries for the 2026/27 season. They will both be eligible for rookie scale extensions after that season ends.

Selected out of Kentucky with the eighth pick in last year’s draft, Dillingham appeared in 49 games as a rookie, averaging 4.5 points, 1.0 rebounds and 2.0 assists in 10.5 minutes per night while shooting 44.1% from the field and 33.8% from three-point range.

Shannon, the 27th pick out of Illinois, got into 32 games and put up 4.3 points, 1.5 rebounds and 1.0 assists in 10.6 minutes per night with .482/.355/.810 shooting splits.

Both players may see increased minutes this season as Minnesota relies more on its younger guards to ease the strain on 38-year-old Mike Conley. The loss of Nickeil Alexander-Walker in free agency should also open up some more backcourt minutes.

We’re tracking all the 2026/27 rookie scale option decisions here. They are due by October 31.

Wolves’ Juzang Gets Two-Way Deal; Newton Among Cuts

4:14 pm: As expected, the Timberwolves confirmed in a press release that they’ve waived Newton, Johnson, Pullin, and Bernard. The team put out a separate announcement confirming Juzang’s conversion to a two-way deal.


3:34 pm: The Timberwolves are converting Johnny Juzang from his Exhibit 10 contract to a two-way deal on the heels of his strong preseason, reports Jon Krawczynski of The Athletic (Twitter link).

Juzang, who signed with Minnesota in September after being waived by Utah in June, put up 13.8 points in just 17.6 minutes per game in five preseason appearances for the team. His shooting line was a scorching .500/.483/.833, and he also grabbed 4.2 rebounds per contest.

The Timberwolves didn’t have a two-way spot open for Juzang, so the club has to make a cut. Tristen Newton is the odd man out and will be waived, according to Chris Hine of The Star Tribune (Twitter link).

Newton, the 49th pick in the 2024 draft, accepted his two-way qualifying offer in September after spending his rookie year on a two-way deal. A 6’5″ guard,  Newton was much quieter during the preseason than Juzang, averaging 5.2 points, 1.6 assists, and 1.4 rebounds in 13.5 minutes per game while shooting 38.9% from the floor.

Newton isn’t the only Timberwolf being cut ahead of the season. Veteran forward Alize Johnson is also being placed on waivers, tweets Michael Scotto of HoopsHype.

Camp invitees Zyon Pullin and Jules Bernard, who are also on non-guaranteed Exhibit 10 contracts, seem likely to be waived too, though that hasn’t been confirmed yet.

And-Ones: Team USA, Role Players, M. Jones, Balcetis

Speaking to reporters at a Thursday press conference to formally introduce Erik Spoelstra as Team USA’s new men’s basketball head coach, managing director Grant Hill said that winning a World Cup for the first time since 2014 is the “first order of business” for the national team, per Joe Vardon of The Athletic.

The U.S. finished seventh at the 2019 World Cup and fourth in 2023, failing to secure a medal at either event. Typically, the World Cup rosters featured less established stars than the Olympic squads, and that likely won’t change going forward, according to Vardon, who points to Cooper Flagg and Evan Mobley as a couple possibilities for the 2027 team. For his part, Hill is in no rush to lock in on any specific players quite yet.

“We have some time, and one of the great things is to see who emerges,” Hill said. “You have two years before the World Cup, and it seems like every season there are players who take a step in their development and become better players, All-Star players, players whose games translate to international play.

“It’s great to get these players in the pipeline. The great thing is, yes, the world is getting better, but we are too. We still have some great players in this country, great young players. And you know, it’s on me to get out and recruit and you know, sort of share with guys the importance of doing this.”

Here are a few more odds and ends from around the basketball world:

  • Fred Katz of The Athletic identifies five role players around the NBA who could end up being pivotal contributors for their respective teams this season, including Bucks guard Kevin Porter Jr., Cavaliers wing De’Andre Hunter, and Timberwolves guard Terrence Shannon Jr.
  • After signing him last month, the Perth Wildcats have parted ways with former NBA guard Mason Jones, as Olgun Uluc of ESPN writes. Jones, who was named the MVP of the 2025 G League Finals in April, struggled in his first five games in Australia’s National Basketball League, shooting just 34.7% from the floor, including 27.6% on three-pointers. The Wildcats are exploring the market for a new import guard to replace him, per Uluc.
  • Former Nuggets assistant general manager Tommy Balcetis is joining Zalgiris Kaunas as the Lithuanian club’s head of innovations, according to BasketNews. Balcetis was considered a potential candidate to run Denver’s front office after the team fired Calvin Booth in the spring, but the Nuggets opted to promote Ben Tenzer into that position and didn’t renew Balcetis’ contract.
  • NBA rookies and award winners will wear patches on their jerseys this season as part of the league’s partnership with Fanatic/Topps. Dan Hajducky of ESPN has the details on the new program.

Injury Notes: Sochan, George, Demin, Suggs, K. Jones, Ingles

The Spurs will be without forward Jeremy Sochan when they open their regular season in Dallas next Wednesday night, according to the team (Twitter link via Jared Weiss of The Athletic).

Ramping up this fall from a calf injury he sustained during the summer, Sochan had progressed to 5-on-5 scrimmages this week and was trending toward potentially being available for opening night. However, the Spurs say that he sprained his left wrist in practice on Thursday. He’ll enter the regular season considered day-to-day, per the club.

Sochan is one of 15 players who remain eligible to sign rookie scale extensions. If he and the Spurs don’t agree to terms on or before Monday, he’ll be on track to play out his contract year and become eligible for restricted free agency next summer.

We have more injury updates from around the NBA:

  • After progressing to 3-on-3 work on Wednesday, Sixers forward Paul George took another step forward on Thursday, fully participating in practice, including 5-on-5 action, tweets Derek Bodner of PHLY Sports. However, head coach Nick Nurse quickly replied “no” when asked if there’s optimism about George suiting up for Friday’s preseason finale or next Wednesday’s regular season opener (Twitter video link). “Yesterday was his first day live,” Nurse said. “… Today was a short amount of 5-on-5, so we have to just keep waiting.”
  • No. 8 overall pick Egor Demin will make his preseason debut for the Nets on Friday vs. Toronto, writes Brian Lewis of The New York Post. Demin has been dealing with a plantar fascia tear during training camp and the preseason, but it appears he’ll be ready for the start of the season unless he experiences a setback before then.
  • Magic guard Jalen Suggs responded well to the limited contact work he did this week, but there are still hurdles to clear before he’s cleared for game action, head coach Jamahl Mosley said on Thursday. “We’ll have a couple more scrimmages where we’ll be able to go live, some 3-on-3, some 5-on-5, and we’ll see how he responds after each one of those days,” Mosley said, per Jason Beede of The Orlando Sentinel (subscription required). “Then we’ll be able to tell you accordingly, you’ll know whether he is or isn’t [ready] on opening night.”
  • After announcing last week that rookie guard Kam Jones could miss multiple weeks due to a back issue, Pacers head coach Rick Carlisle provided an update on Thursday, telling Dustin Dopirak of The Indianapolis Star (Twitter link) to check back in on Jones around November 9. That’s the same date that T.J. McConnell (hamstring) is scheduled to be reevaluated.
  • Timberwolves forward Joe Ingles, diagnosed last week with a left groin strain, has been cleared for basketball activities and will be available for Thursday’s game against Chicago, the team announced today in a press release.

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.