Cleveland Cavaliers valued over $1 billion, even without LeBron James
The Cleveland Cavaliers are still worth over $1 billion, even without LeBron James. They’re even worth more than the Cleveland Indians.
Forbes estimated the worth of every NBA team and found that each of the league’s 30 teams are worth over $1 billion. That includes the Cleveland Cavaliers.
That’s right. Even without LeBron James, the Cavs are still worth $1.2 billion. LeBron’s departure for LA apparently cost the franchise $50 million in valu
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The Cavs stink now, but a majority of the season tickets for this season were sold when James’ decision regarding his future was still unknown.
How healthy is the NBA? The Cavs, who bolting 500 mph into the tank, are worth more than the Cleveland Indians, who were valued at $1.045 billion.
The average team worth is $1.9 billion, which is up 13 percent from lat season. The Knicks are worth the most, at an estimated $4 billion.
The valuations shouldn’t come a surprise to those who read these Forbes articles or who follow the NBA and watch what teams for when sold.
But in a way, it is a little crazy to absorb.
This is a league whose last two MVPs recently squared off on national television, and were beaten in the ratings by the upstart AAF.
The NBA is a global brand though, and that’s certainly the case for Dan Gilbert’s Cavs. Under James, the Cavs went to four straight Finals, winning one. The World, including a gigantic market in China had their eyes glued on two teams, one of them being Cleveland.
Gilbert has more than doubled his money from his purchase of the Cavs from Gordon Gund, when he paid around $335 million for the franchise.
Even Gund made out like a bandit when he finally cashed in his chips. The longtime owner bought the Cavaliers for about $20 million in 1983. Not a shabby return.
It’ll be interesting to see how the Cavs’ fare in next year’s valuations because they’re not going to have the same kind of revenue they did when James was packing the seats. With that said, there’s a great chance an exciting new rookie will be drafted this summer who will keep fans coming to The Q.
And if people don’t come, they’re going to watch on television. The Cavs, despite being one of the worst teams in the NBA, are fifth among the NBA’s 30 teams in local broadcast ratings.
The NBA gets tons of complaints about the regular season being boring while also being hammered because the stars have too much control.
You’ve heard gripes about it on this website, but like everyone else who complains about the problem, it’s an issue falling on deaf ears.
It’s a star-driven league and considering more members of the younger generation, in addition to the overseas crowd who may not be interested in rooting for a squad in Cleveland, it’s easy to pick your superstar and follow their career.
Next. 3 Cavs who better represent at 2020 All-Star weekend. dark
That’s why the NBA offseason is more entertaining than the regular season and the league loves it. It keeps teams in the new cycle 24-7.