Miami Heat Worth $625 Million, According to Forbes
Almost, but not quite, or so says Forbes. According to the biz mag's latest roundup of professional basketball valuation, the Heat is currently the sixth-most-valuable franchise. The Knicks top the list, which pretty much means success on the court has nothing to do with the amount of paper you pull in.
The Heat is valued at $625 million, with a profit of $15 million. The list-topping Knicks are valued at $1.1 billion with an $83 million profit. The only other team to cross the billion-dollar mark was the Lakers, the number-two team on the list, with a profit of $48 million.
These latest numbers represent a sea change across the league. Overall, franchise value increased about 30 percent in 2012. For the Heat, that means a jump from 2011's valuation of $457 million to the current price tag -- a 37 percent increase.
Why? Simple. Owners jerked the strings of David Stern, who wiggled the player's union into a new agreement that dropped the amount of total revenue that goes toward player salaries, jacking up overall value.
For the sake of comparison, the slot after the Heat on the 2012 list is filled by the Houston Rockets, valued at $568 million. That said, the Rockets actually make a lot more money -- $27 million.