CNBC: In 2025, Rockets among NBA’s five most valuable franchises
CNBC’s latest ranking of NBA team valuations places Tilman Fertitta’s Houston Rockets ($5.7 billion) at No. 5 among the league’s 30 franchises.
According to CNBC Sport’s latest NBA valuations, the Houston Rockets rank No. 5 among the league’s 30 franchises with a $5.7 billion valuation in 2025.
The only franchises estimated above the Rockets are the No. 1 Golden State Warriors ($9.4 billion); the No. 2 New York Knicks ($7.5 billion); the No. 3 Los Angeles Lakers ($7.0 billion); and the No. 4 Chicago Bulls ($5.8 billion).
To say the least, it’s a massive increase from the $2.2-billion figure that current owner Tilman Fertitta purchased the Rockets for in 2017.
“According to team executives, the biggest reason for the rising tide in NBA valuations has been the increase in national media rights, which are divided equally among the league’s 30 teams,” CNBC’s Michael Ozanian writes. “In July, the NBA agreed to a new media rights package worth $76 billion over 11 years, beginning with the 2025-26 season. On an average annual basis, the new deal is worth $6.9 billion a year, nearly 160% more than its current deal is worth.”
Per CNBC, sources for its valuations include team owners, investors, and executives; sports bankers and league consultants; public documents such as stadium lease agreements, stadium authority budgets and audits, and credit rating reports; and sponsorship and broadcasting industry executives. Figures that could not be confirmed with sources are CNBC estimates. Further methodology details are available here.
CNBC estimates Houston’s annual revenue at $402 million and its EBITDA, or earnings before interest, taxes, depreciation, and amortization, at $119 million. CNBC’s valuations include the economics of each team’s arena including non-NBA revenue sources, such as concerts. These can accrue to the team’s owner, as is the case with Fertitta and Toyota Center in Houston.
The complete ranking of all 30 NBA franchises can be accessed here.
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