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Scan for outdated or missing drivers - takes under a minuteDriver Scan →Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Forbes ranked the Golden State Warriors as the NBA’s most valuable team in 2023, estimating the franchise at $7.7 billion. The figures below are Forbes estimates published in October 2023; the financial results refer to the 2022–23 season. “Net worth” is a familiar shorthand, but Forbes reports enterprise value—equity plus net debt—not an owner’s personal net worth or a guaranteed sale price.
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Forbes’ October 2023 ranking puts the Warriors $1.1 billion ahead of the second-place Knicks. The value-change and operating-income figures are also Forbes estimates. Operating income is not revenue, and neither measure is the franchise’s estimated value.
| Rank | Team | Estimated franchise value | Change in value | 2022–23 operating income |
|---|---|---|---|---|
| 1 | Golden State Warriors | $7.7 billion | +10% | $79 million |
| 2 | New York Knicks | $6.6 billion | +8% | $169 million |
| 3 | Los Angeles Lakers | $6.4 billion | +8% | $159 million |
| 4 | Boston Celtics | $4.7 billion | +18% | $88 million |
| 5 | Los Angeles Clippers | $4.65 billion | +19% | −$12 million (operating loss) |
| 6 | Chicago Bulls | $4.6 billion | +12% | $115 million |
| 7 | Dallas Mavericks | $4.5 billion | +36% | $83 million |
| 8 | Houston Rockets | $4.4 billion | +38% | $125 million |
| 9 | Philadelphia 76ers | $4.3 billion | +37% | $120 million |
| 10 | Toronto Raptors | $4.1 billion | +32% | $75 million |
Source: Forbes España’s 2023 NBA team valuation list. Values are estimated U.S.-dollar franchise values reported in October 2023; operating-income figures cover the 2022–23 season.
What “net worth” means in this ranking
Forbes describes the figures as enterprise values: equity value plus net debt. That makes the ranking a comparison of estimated franchise businesses, not the personal wealth of team owners. Nor should a valuation be read as the amount a team would necessarily fetch in a sale; an actual transaction can depend on its terms and circumstances.
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Forbes says it estimated enterprise value using revenue multiples informed by historical franchise transactions. Its work drew primarily on interviews with teams, sports bankers and media consultants, alongside public records such as arena leases and bond documents. These are estimates, not independently audited team accounts.
Revenue, operating income and value are different measures
- Revenue is money generated by the business over a period. Forbes reported the Warriors had the NBA’s highest revenue in 2022–23: $765 million, net of arena debt service and revenue sharing, or 48% more than any other team.
- Operating income is a measure of income from operations for the season. Forbes estimated average NBA team operating income at $71 million in 2022–23, down 22%, primarily because of higher player costs.
- Franchise value is Forbes’ estimate of the business’s enterprise value, rather than revenue or one season’s operating income.
Forbes put average team revenue at $353 million in 2022–23, net of revenue sharing and arena debt service, and average franchise value at $3.85 billion in 2023. The average value was up 35% from 2022 and 75% from 2019. Forbes’ revenue and operating-income estimates also include owner revenue from non-NBA events at team arenas.
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The accessible ranking does not list individual revenue for every team in the top ten. It therefore supports identifying Golden State as the revenue leader and reporting league averages, but not constructing a complete top-ten revenue ranking. Forbes México’s reproduction provides the revenue context and league averages: Forbes México’s 2023 NBA valuations article.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why NBA franchise values climbed
Forbes pointed to high-value franchise transactions and expectations for future media-rights growth as factors behind rising valuations. The article cited the Suns’ $4 billion sale, the Hornets’ $3 billion sale and a 25% stake in the Bucks valued at $3.2 billion. Those reported deals provide context for the revenue multiples used in valuations; they do not establish that every franchise would sell at the same multiple.
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The media-rights outlook was Forbes’ expectation in 2023, not a guarantee of future revenue or value. The ranking is a dated estimate: it describes Forbes’ view in October 2023, using financial results from 2022–23.
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