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:
- Golden State Warriors: $11.33 billion
- Los Angeles Lakers: $10 billion
- New York Knicks: $9.85 billion
- Los Angeles Clippers: $6.72 billion
- Boston Celtics: $6.35 billion
- Brooklyn Nets: $6.22 billion
- Chicago Bulls: $6.12 billion
- Miami Heat: $6.03 billion
- Philadelphia 76ers: $5.61 billion
- Houston Rockets: $5.53 billion
- Dallas Mavericks: $5.24 billion
- Toronto Raptors: $5.22 billion
- Phoenix Suns: $5.09 billion
- Atlanta Hawks: $5.02 billion
- Sacramento Kings: $5 billion
- Cleveland Cavaliers: $4.86 billion
- Denver Nuggets: $4.8 billion
- Washington Wizards: $4.78 billion
- Indiana Pacers: $4.76 billion
- Milwaukee Bucks: $4.54 billion
- San Antonio Spurs: $4.5 billion
- Oklahoma City Thunder: $4.34 billion
- Utah Jazz: $4.27 billion
- Portland Trail Blazers: $4.25 billion
- Minnesota Timberwolves: $4.24 billion
- Orlando Magic: $4.21 billion
- Detroit Pistons: $4.17 billion
- Charlotte Hornets: $4.13 billion
- New Orleans Pelicans: $4.02 billion
- 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.
Kevon Looney Out At Least Two Weeks
Kevon Looney, the Pelicans‘ projected starting center, will be out for at least two or three weeks, the team announced (via Twitter).
According to the Pelicans, Looney was diagnosed with a proximal tibiofibular ligament sprain in his left knee, an injury sustained during the team’s October 5 contest against South East Melbourne. He’ll be reevaluated in two-to-three weeks, with further updates provided as appropriate, per the team.
Looney signed a two-year deal with the Pelicans after spending the first 10 seasons of his career with the Warriors, with whom he won two championships. He holds career averages of 5.0 points, 5.7 rebounds, and 1.6 assists per game.
Looney was brought in by New Orleans to add veteran experience to the frontcourt depth chart alongside second-year center Yves Missi and rookie Derik Queen, the latter of whom is recovering from wrist surgery that kept him out for the entirety of the Pelicans’ preseason.
Given New Orleans’ suddenly shallow depth chart up front, second-year big man Karlo Matkovic could be in line for an increased role early in the season. He played 42 games for the Pelicans last season and averaged 7.7 points, 5.0 rebounds, and 1.0 blocks in 18.8 minutes per night.
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
- 2024/25 record: 52-30
- Over/under for 2025/26: 52.5 wins
- Major offseason moves:
How many games will the Rockets win in 2025/26?
-
Over 52.5 56% (166)
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Under 52.5 44% (133)
Total votes: 299
San Antonio Spurs
- 2024/25 record: 34-48
- Over/under for 2025/26: 44.5 wins
- Major offseason moves:
How many games will the Spurs win in 2025/26?
-
Over 44.5 58% (166)
-
Under 44.5 42% (122)
Total votes: 288
Dallas Mavericks
- 2024/25 record: 39-43
- Over/under for 2025/26: 41.5 wins
- Major offseason moves:
- Added: Cooper Flagg, D’Angelo Russell
- Lost: Spencer Dinwiddie, Olivier-Maxence Prosper, Kai Jones
How many games will the Mavericks win in 2025/26?
-
Over 41.5 72% (214)
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Under 41.5 28% (84)
Total votes: 298
Memphis Grizzlies
- 2024/25 record: 48-34
- Over/under for 2025/26: 39.5 wins
- Major offseason moves:
How many games will the Grizzlies win in 2025/26?
-
Under 39.5 61% (171)
-
Over 39.5 39% (108)
Total votes: 279
New Orleans Pelicans
- 2024/25 record: 21-61
- Over/under for 2025/26: 30.5 wins
- Major offseason moves:
How many games will the Pelicans win in 2025/26?
-
Under 30.5 55% (146)
-
Over 30.5 45% (120)
Total votes: 266
Previous voting results:
- 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%)
- 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%)
- 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%)
- 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%)
- 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%)
Pelicans Sign, Waive Chase Hunter, Josh Oduro
October 13: Both Hunter and Oduro have been released, per NBA.com’s transactions log.
October 9: The Pelicans have signed Chase Hunter and Josh Oduro to Exhibit 10 contracts, Spotrac contributor Keith Smith tweets.
New Orleans’ intent to sign Hunter, an undrafted rookie guard, was reported just after this year’s draft.
Hunter had a lengthy college career with Clemson, which spanned six years from 2019-25. He was awarded a medical redshirt after a foot injury limited him to nine appearances in his freshman year, then was granted another extra year of extra eligibility due to COVID-19.
Hunter ended up appearing in 167 games across those six years, making 123 starts. As a super-senior in 2024/25, he averaged a career-best 16.5 points per game on .470/.407/.866 shooting while also contributing 3.0 rebounds, 2.5 assists, and 1.4 steals in 33.5 minutes per contest. Hunter earned first-team All-ACC honors this year and left Clemson as the school’s third all-time leading scorer.
Oduro was signed and waived by the Pelicans during last season’s training camp. The 6’9” forward, who went undrafted in 2024, played four collegiate seasons at George Mason before transferring to Providence for his final year. He averaged 12.9 points and 6.6 rebounds across 148 college games (128 starts).
Oduro played 44 games last season for the Birmingham Squadron, the Pelicans’ G League affiliate, averaging 11.4 points, 8.2 rebounds, 2.8 assists and 1.1 blocks in 29.4 minutes per game.
Both players are likely to be waived and join the Squadron. They’ll be eligible for bonuses worth up to $85,300 if they stay with that club for at least 60 days.
Pelicans Sign, Waive D.J. Carton, Trhae Mitchell
7:00 pm: The Pelicans have waived both Carton and Mitchell, per NBA.com’s official transaction log, putting them on track to join the Squadron.
9:17 am: The Pelicans have signed D.J. Carton and Trhae Mitchell to Exhibit 10 contracts, Spotrac contributor Keith Smith tweets.
New Orleans had two openings on its training camp roster after waiving a pair of players earlier in the week.
Carton, who was on Portland’s Summer League roster in July, opened last season with the Raptors on a two-way contract, but was waived in December.
Across parts of two seasons with the Raptors, Carton appeared in eight NBA games, logging just 69 total minutes. The 6’3″ guard has compiled 14 points, eight rebounds, six assists, and three steals with a .267/.143/.833 shooting line during his limited NBA minutes.
Carton appeared in 22 G League contests with the Raptors 905 and the San Diego Clippers last season, averaging 13.5 points and 5.0 assists in 29.6 minutes per game.
Mitchell was on New Orleans’ camp roster last season. He appeared in 50 games for the Birmingham Squadron, the Pelicans’ G League affiliate, after being waived by the NBA club and averaged 7.6 points, 3.0 rebounds and 1.3 assists in 27.8 minutes per contest.
Both players will likely be waived and join the Squadron. They’ll be eligible for bonuses worth up to $85,300 if they stay with that club for at least 60 days.
Pelicans Cut Garrison Brooks, Jalen McDaniels
The Pelicans have cut Exhibit 10 training camp signings Garrison Brooks and Jalen McDaniels, the team announced today (Twitter link).
Both forwards are now likely to link up with the Pelicans’ G League club, the Birmingham Squadron. If Brooks and McDaniels remain with Birmingham for at least 60 days, each player will be eligible for a bonus worth up to $85,300 on top of his standard NBAGL salary.
The 26-year-old Brooks went undrafted out of Mississippi State in 2022. He suited up for the Westchester Knicks of the G League during his first pro season, but otherwise has been playing abroad in Korea and Lithuania.
McDaniels, 27, logged three-and-a-half pro seasons with the Hornets. The older brother of All-Defensive Timberwolves wing Jaden McDaniels was the No. 52 pick in the 2019 draft and has since been rostered with Philadelphia, Toronto, Sacramento, San Antonio and Washington, though following his Charlotte exit, he only saw NBA minutes with the Sixers, Raptors and Wizards.
Across 252 career NBA regular season games games, the San Diego State alum boasts averages of 6.7 points, 3.3 rebounds and 1.2 assists per contest, with a shooting line of .449/.322/.777.
And-Ones: All-Star Game, Australia, A. Antetokounmpo, More
Regardless of the findings of the NBA’s investigation into the Clippers and Kawhi Leonard for potential salary cap circumvention, the 2026 All-Star Game won’t be relocated away from Intuit Dome, commissioner Adam Silver confirmed on Monday.
There had been some speculation that taking this season’s All-Star Game away from the Clippers could be one form of punishment for the franchise if the league determines it circumvented the cap by paying Leonard extra money via a no-show endorsement deal. However, there’s no guarantee the investigation will wrap up by mid-February, and even if it does, the All-Star Game won’t be affected, as Brian Mahoney of The Associated Press relays.
“There’s no contemplation of moving the All-Star Game,” Silver said. “Planning for the All-Star Game and the surrounding activities are operating completely independently of the ongoing investigation.”
We have more odds and ends from around the basketball world:
- Olgun Uluc of ESPN shares his takeaways from the Pelicans‘ two exhibition games in Melbourne over the weekend, noting that projected 2026 first-rounder Dash Daniels (Dyson Daniels‘ younger brother) held his own against NBA competition and that NBL owner Larry Kestelman expects the NBA to return to Australia based on the success of this trip.
- Alex Antetokounmpo, younger brother of Giannis Antetokounmpo, is expected to part ways with the Greek team Aris Thessaloniki and sign a G League contract, according to Johnny Askounis of Eurohoops. The 24-year-old forward has never appeared in an NBA regular season game, but previously signed Exhibit 10 contracts with the Raptors (2021) and the Bucks (2022 and 2023) prior to playing for those teams’ NBAGL affiliates.
- The Athletic’s NBA beat writers pose one burning question facing each of the NBA’s 30 teams, including who will step up in the Celtics‘ frontcourt, whether or not the Magic have enough three-point shooting, and whether the Grizzlies can count on Ja Morant.
- In a pair of stories for ESPN, Tim Bontemps identifies 10 names that could define the 2025/26 NBA season, while Bobby Marks previews trade season for 14 teams well positioned to be active in the coming months.
Southwest Notes: Zion, Bey, Alvarado, DSJ, Spurs
Zion Williamson was limited to just 30 games last season for health reasons, while Trey Murphy‘s year came to an early end due to shoulder surgery. So it was a very encouraging sign for the Pelicans that Williamson (15 points) and Murphy (18 points) were their leading scorers in their preseason opener. New Orleans became the first NBA team to play a game in Australia, winning an exhibition contest over Melbourne United on Friday.
“It was electric,” Pelicans head coach Willie Green said, per Rod Walker of NOLA.com. “The fans were in tune. They were engaged. It was a really great platform to come here and play high-level competition.”
Green lauded Williamson for his defensive activity after he picked up a pair of steals on Friday. That effort on the defensive end was on display again on Sunday as the Pelicans won their matchup against the South East Melbourne Phoenix. Williamson scored just eight points, but racked up nine rebounds (eight defensive), three steals, and two blocks in 15 minutes of action en route to a 127-92 win.
As good as Williamson was, it was new Pelican Saddiq Bey who stole the show in Sunday’s victory. Bey, who hasn’t played a regular season game since March 2024 due to an ACL tear, had 21 points in 21 minutes, knocking down four three-pointers and registering a game-high +27 plus-minus mark.
“I am just grateful to be out here,” Bey said in a post-game interview, according to Walker. “The opportunity to play in Australia is is a blessing.”
Here’s more from around the Southwest:
- Pelicans guard Jose Alvarado departed Sunday’s game in the third quarter due to an apparent right leg injury, Walker notes. Green said after the game that Alvarado will be reevaluated when the team returns home to New Orleans.
- Within an extensive breakdown of takeaways from the Mavericks‘ training camp, Grant Afseth of Dallas Hoops Journal writes that head coach Jason Kidd praised Dennis Smith Jr. as a camp standout, lauding his “energy.” Smith is on a non-guaranteed contract and has an uphill battle to earn a regular season roster spot, but it sounds like he’s doing all he can to make his case.
- After spending most of last season in the role of “acting” Spurs head coach, Mitch Johnson has the permanent title heading into 2025/26. Running a training camp for the first time, he has made an effort to implement his own style while carrying over many of the lessons he learned from longtime San Antonio coach Gregg Popovich, as Jeff McDonald of The San Antonio Express-News details (subscription required). “(Last season) we were all just trying to maintain what was already going on, the things we put in during training camp, the principles we had,” veteran forward Harrison Barnes said. “Coming into this year, there’s just building blocks that will be different that (Johnson) can say, ‘OK look, I have full ownership of the things that are going on.'”
Southwest Notes: DFS, Eason, Bey, Spurs, Wemby, Prosper
Confirming previous reporting, Rockets head coach Ime Udoka acknowledged on Wednesday to reporters, including Danielle Lerner of The Houston Chronicle (subscription required), that newly added forward Dorian Finney-Smith will “probably not” be ready for the start of the season as he recovers from June ankle surgery. According to Udoka, Finney-Smith hasn’t yet been cleared for contact, though he’s doing “all the shooting and other things with treatment as well during practice.”
As Lerner writes, the Rockets are also continuing to manage the workloads of center Steven Adams and forward Tari Eason, who were coming off procedures on their right knee and left leg, respectively, last season and didn’t play in both ends of back-to-backs. Houston won’t have a back-to-back this season until the first week of December and it’s unclear whether or not Adams and Eason will get the go-ahead to suit up for both of those games.
With Finney-Smith sidelined for now, Eason will receive consideration for a spot in the starting lineup this fall, according to Udoka.
“We’ll see,” Udoka said. “Good to have athletic wing defenders that’ll do a lot of things that he does, especially with Dillon (Brooks) being gone, but still to be determined, and we’ll see what works well. It’s not just about starting with me, as you know. It’s about what fits best, as far as our group. He wants to push for that. We want him to as well. And we’ll see if he gets it.”
Udoka has spoken this week about experimenting with different types of lineups, per William Guillory of The Athletic, noting that he could try out a unit featuring Kevin Durant, Amen Thompson, Jabari Smith Jr., Alperen Sengun, and Adams that would “probably be one of the biggest in the history of the league.”
We have more from around the Southwest:
- Jordan Poole was the headliner of the Pelicans‘ offseason trade with Washington, but the team also added veteran forward Saddiq Bey in that deal. Jim Eichenhofer of Pelicans.com explores what Bey, who is returning from an ACL injury that cost him the entire 2024/25 season, can bring to New Orleans, noting that he’s earning praise from his teammates and his new head coach in camp. “He’s sort of that Swiss Army Knife type of player,” Willie Green said. “He can play multiple positions, score, post up, defend, rebound. Those guys are extremely valuable to a team’s success.”
- The Spurs were one of the NBA’s worst rebounding teams and put up poor defensive numbers when Victor Wembanyama wasn’t on the court last season. They’re optimistic that the offseason additions of centers Luke Kornet and Kelly Olynyk will help address those issues, as Jeff McDonald of The San Antonio Express-News writes (subscription required). “We wanted to be able to have that roster versatility to play a bunch of different ways and also protect the paint when Vic’s not on the floor,” general manager Brian Wright said. “I think those guys allow us to do that.”
- After recovering from a blood clot and spending time traveling in China and Japan this offseason, Wembanyama embarked upon a training regimen he described as “brutal,” explaining that he wanted to “get my body back,” according to Jared Weiss of The Athletic. “I can assure you, nobody has trained like I did this summer,” the Spurs star said. “And this is my best summer so far. I can tell the progress is just incredible. I feel better, I look stronger and the scale says I’m heavier. So everything is a green light.”
- With Grizzlies big men Jaren Jackson Jr., Zach Edey, and Brandon Clarke all likely unavailable to open the 2025/26 season, new two-way addition Olivier-Maxence Prosper is among the players making a strong case for a rotation role in the frontcourt during camp, head coach Tuomas Iisalo said this week, per Michael Wallace of Grind City Media (Twitter link).
Pelicans Notes: Peavy, Camp Vibe, Queen, Poole, Barnes
The Pelicans have a pair of lottery picks in training camp but don’t sleep on their second-rounder. Rookie wing Micah Peavy has made a strong impression on head coach Willie Green during the first week of camp, team website reporter Jim Eichenhofer writes.
“He may be flying under the radar (in terms of media and fan interest), but not in practices,” Green said. “He’s standing out big-time. He’s one of our guys who is doing really well.”
Peavy could help at both ends of the floor. He averaged 17.2 points and 2.3 steals per game for Georgetown last season.
“He fits sort of our core characteristics of how we want to play,” Green said. “Number one, he’s a high-character young man. On the floor, it starts with him being competitive. He brings toughness, he’s a good defender, he’s smart. He makes the right plays offensively, doesn’t hurt you at all.”
Here’s more on the Pelicans:
- The team began training camp on Wednesday and there were plenty of positive vibes to go around. “It’s refreshing,” Green said, per Rod Walker of NOLA.com. “We all understand that last season was not a season we expected to have. Now we are turning the page. That’s the biggest thing I saw from this group (Wednesday).” Newcomer Jordan Poole certainly appreciated the upbeat atmosphere. “A lot guys at media day (Tuesday) mentioned how good of a group this is and how good the energy is and how well we get along with each other,” Poole said. “The vibes are good. I think we are just ready to get back on the court. We’re a competitive team, and guys want to get going early and want to find a way to expedite our learning curve.”
- One of the lottery picks, Derik Queen, is recovering from left wrist surgery and has been a limited participant. “He’s stepping into some of our drills,” Green said, per Eichenhofer. “He can do some of that. But we won’t rush him. When he’s ready, we’ll get the heads-up… and he’ll be able to step in and have more contact.”
- After starting out in a winning organization with the Warriors, Poole went through a whole lot of losing with the Wizards during the last two seasons. He’s looking forward to being on a team with a greater chance to turn things around this season. “Now I’m able to incorporate what it feels like to be on the tougher end of it when it comes to winning and losing,” Poole told Walker. “The last two years for me were a bit more challenging. We weren’t able to win as much as I’d like. But coming to a situation with a new front office, that is the goal. That is the expectation. Everybody’s on the same page and it’ll be fun to go out there and compete against a really tough Western Conference.”
- The Pelicans revamped their front office this offseason but they made a significant in-house promotion this week. Adam Barnes has named assistant GM, Michael Scotto of HoopsHype tweets. He was previously Pelicans director of college scouting and the Birmingham Squadron’s GM, New Orleans’ G League affiliate. This is his seventh season with the organization.