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The value of NBA franchises has continued to rise over time. Successful seasons are one of the major reasons a team's value can increase.
NBA franchises have often been sold to the highest bidders for record-breaking amounts. In the latest of such moves, Minnesota Timberwolves owner Glen Taylor recently reached an agreement to sell the franchise for $1.5 billion.
NBA franchises are extremely profitable. A standout example is when Donald Sterling sold the LA Clippers for $billion after purchasing the team for $12.5 million in 1981. The combined value of all NBA franchises is higher than it has ever been throughout league history.
On that note, here's a look at the five most expensive franchise purchases in NBA history:
#5 Minnesota Timberwolves, $1.5 billion
The Minnesota Timberwolves were founded in 1989 and faced several challenges as a new franchise in the NBA. The team struggled to put together an impressive regular-season run. Things changed for the Timberwolves after they drafted Kevin Garnett in 1995.
Glen Taylor has owned the team since its inception, but a sale is imminent. Taylor reached an agreement to sell the team to Marc Lore and Alex Rodriguez for $1.5 billion. The deal requires the franchise to stay in Minnesota. Recent reports suggest the sale is pending approval by the NBA's Board of Governors.
The team has seen little success in the NBA playoffs despite qualifying for eight straight seasons between 1997 and 2004. In 2004, they won their first division title and reached the Western Conference Finals.
The Minnesota Timberwolves are out of playoff contention this season, making it the third consecutive year they will not feature in the postseason.
#4 Utah Jazz, $1.6 billion
The Utah Jazz were founded in 1974, originally known as the New Orleans Jazz in the NBA. The first ten years of the franchise were terrible with regards to playoff qualification. However, the introduction of John Stockton and Karl Malone took the team to great heights.
The Utah Jazz have two NBA Western Conference titles under their belt. The team lost the NBA Finals to the Michael Jordan-led Chicago Bulls in 1997 and 1998. It was a successful run for the Utah Jazz between 1984 and 2004; the team did not miss the playoffs throughout that period.
Larry Miller completed the purchase of the Utah Jazz in 1986 for $17.3 million from Sam Battistone. In December 2020, Ryan Smith purchased the Utah Jazz for $1.66 billion from Miller. The Jazz are currently the number one seed in the NBA Western Conference standings.
#3 LA Clippers, $2 billion
The LA Clippers were sold to Steve Ballmer for $2 billion following the controversy surrounding former owner Donald Sterling. Sterling was caught making racist remarks about the Clippers, which resulted in a $2.5 million fine and a lifetime ban from the NBA.
The franchise underwent two name changes before sticking with the LA Clippers in 1984. The franchise started its NBA journey in 1970 and were known as the Buffalo Braves. The franchise moved to San Diego in 1978 and adopted a new name, the San Diego Clippers.
Although the LA Clippers share an arena with one of the most successful NBA franchises in history, it has not been nearly as successful as the LA Lakers. Despite not going past the Conference Semifinals stage in the seven years since Ballmer's takeover, the LA Clippers have made the playoffs all but once.
They will have another shot at contesting for the NBA championship this season. With players like Paul George and Kawhi Leonard, the franchise stands a great chance of making a deep run in the playoffs.
#2 Houston Rockets, $2.2 billion
The Houston Rockets started in the NBA as the San Diego Rockets in 1967. A move to Houston in 1971 brought about a name change. They are one of the most successful franchises in the NBA to take a place on this list.
Leslie Alexander purchased the team in 1993 for $85 million and led them to two back-to-back NBA Finals in 1994 and 1995. The team has also won four Western Conference Finals in its history.
Tilman Fertitta purchased the team from Leslie in 2017 for $2.2 billion, which was the record sale price of an NBA franchise at the time. The Rockets have not missed the playoffs since Tilman took over but look set to miss it this season after trading away superstar James Harden.
#1 Brooklyn Nets, $3.3 billion (NBA record sale)
The Brooklyn Nets are one of the oldest franchises in professional basketball history, starting their journey as far back as 1967 in the American Basketball Association (ABA). They played their first season as New Jersey Americans before changing their name to the New York Nets in 1968.
In 2012, the franchise officially changed its name to the Brooklyn Nets, following the purchase of the team by Mikhail Prokhorov in 2010. The team was later sold to Joe Tsai for $3.3 billion in 2019 but has found little success in the playoffs.
The Brooklyn Nets have a unique opportunity to win their first NBA championship this season. Fielding a trio of James Harden, Kevin Durant and Kyrie Irving, the super-team is expected to go all the way this postseason.
Guess the Lakers players!
