The average worth of an NBA team is currently $634 million, which is 25 percent higher than what it was last year, 2014. As expected, this means that any individual who owns an NBA team is a very wealthy person. It is no surprise that it takes a lot of money to be able to own an NBA team. Today, it is in fact even more complicated than before as billionaires have more than two third stakes in the NBA team’s ownership.
Many basketball fans say Bruce Levenson is a legendary in the sports industry given his contribution in the management of the sports and financial worth. Levenson is a businessperson and the former NBA team owner of Atlanta Hawks. He relinquished the position when the ownership of the team agreed and finalized the sale of the NBA to a team led by Antony Ressler, a billionaire investor and equity fund manager.
In October 2014, Bruce Levenson hired bankers Goldman Sachs and Inner Circle Sports to help him sell the team, and they did so but were off by 27 percent. Gold Sachs had convinced Bruce Levenson that he could get at least one billion dollars in the sale of the team and its arena operating rights. However, the group led by Antony Ressler won the bid with a $730 Million bid. They used cash and assumption of debt to finance the sale. After the departure of Bruce from the list of NBA owners, the team has retained its good reputation in the sports fraternity due to the effort of the remaining owners who are also billionaires.
Paul Allen, one the remaining owners of the team, according to credible sources is currently worth $15.8 Billion. This makes him the wealthiest NBA team owner. Allen owns Portland Trail Blazers, a professional basketball team based in Portland, Oregon and play in the Northwest division of Western Conference in the NBA. The billionaire is also the Microsoft Co-founder and owns the NFL’s Seattle and partially the Seattle’s Sounders, which is the most valuable team in Major League Soccer.
Mikhail Prokhorov who is one of the richest men in Russia is another influential top owner of the team and is valued at $13 Billion. He owns the Brooklyn Nets a team based in New York and competes in the NBA as a member of the Atlantic Division Eastern Conference. Mikhail helped in the moving of Brooklyn Nets from New Jersey to Brooklyn during the 2012-13 seasons.
Phillip Anschutz is also incredibly influential. He is another owner of the team and is valued at $10.3 Billion and is the owner of Los Angeles Lakers, an NBA team that is based in Los Angeles California. Los Angeles Lakers compete in the NBA as members of the Pacific Division western conference.
Phillip Anschutz has an Empire named AEG, and through this empire, Phillip shares ownership of Lakers with the Family of Jerry Buss. Billionaire Anschutz is also the owner of NHL’s Los Angeles Kings. Anschutz has also had ownership stakes in six different MLS teams since the beginning of the league back in 1966