The Golden State Warriors are, by far, the most valuable NBA franchise.

Per Spotrico’s Kurt Badenhausen, the Warriors lead the pack with a valuation of $9.14 billion. The New York Knicks are a distant second at $8.3 billion, followed by the Los Angeles Lakers at $8.07 billion and Brooklyn Nets at $5.7 billion.

The average franchise value is $4.6 billion, nearly double where it was at during the 2020-21 season ($2.4 billion).

The Warriors have been atop Sportico’s list of most valuable NBA franchises since the 2022-23 season when they surpassed the Knicks. That was also the season after they defeated the Boston Celtics in the NBA Finals to win their fourth championship in eight years.

Golden State had also moved to Chase Center in San Francisco three years earlier after previously playing in Oakland from 1971 to 2019.

Badenhausen noted the $9.14 billion valuation for the Warriors makes them the second-most valuable franchise in all sports, trailing only the NFL’s Dallas Cowboys ($10.3 billion).

The top three NBA franchises are all worth more than the No. 2 NFL franchise (Los Angeles Rams: $7.8 billion). The gap between the top three NBA clubs and everyone else is significant.

The Lakers in third place at $8.07 billion are worth $2.37 billion more than the Nets at No. 4. By comparison, that’s roughly the same difference between the Nets and Minnesota Timberwolves at No. 28 ($3.29 billion).

Minnesota, the New Orleans Pelicans ($3.09 billion) and Memphis Grizzlies ($3.06 billion) are the bottom three franchises by valuation.

Two key franchises to keep an eye going forward are the Celtics and Los Angeles Clippers. The Clippers are ranked No. 5 with a valuation of $5.68 billion, but Badenhausen pointed out their revenue is expected to “soar” this season now that they are playing in the Intuit Dome rather than sharing an arena with the Lakers.

The Celtics, in addition being the defending champs and having a great shot to repeat, are currently for sale and all expectations are the purchase price will shatter NBA records when it happens. The current high-water mark for an NBA franchise is $4 billion when Mat Ishbia bought the Phoenix Suns.

Franchise values continuing to increase comes as the NBA will begin its new media rights deal starting with the 2025-26 season. The league will earn roughly $76 billion over the next 11 years.