The Nets are now worth close to $800 million, according to a Forbes report.
ESPN’s Darren Rovell breaks down the report, which attributes the Barclays Center as the primary reason for the Nets’ rise to the fifth most valuable franchise in the NBA:
“New venues have certainly helped teams, especially the Nets’ move from New Jersey to Brooklyn. In two years, Forbes estimates the move to the Barclays Center has contributed to a 108 percent rise in franchise value. Just two years ago, Forbes said the team was the 14th most valuable team in the NBA with a worth of $357 million. This year, the team owned by Russian billionaire Mikhail Prokhorov, is worth $780 million and is the fifth most-valuable franchise in the league.”
According to the report, the 47 percent hike is faster than any other team in the league in the past year.
Read more: Forbes (Badenhausen), ESPN (Rovell)