The National Basketball Association is the premier men’s league in the world. It has 30 franchise clubs In 2 countries.29 are in the US and 1 in Canada. It’s considered the best basketball league in the world. It was founded as Basketball Association of America (BAA) in 1946.In 1949; it was renamed into NBA after merging with Basketball Association of America. The NBA players are the highest paid athletes in the world. On social media, NBA has a lot of followers. With a big international audience, this coupled with its good management has seen its valuation go high over the years.
Currently, NBA is doing great. Today the average team is valued at an estimated $ 1.1billion.That is 24 % more than last year. This steady growth has been the case year on year for the last decade. The operating income has increased. Every team in the franchise except one is making profits. Currently, the Nicks are the most valuable team the Clippers have a cable deal that is bringing hundreds of millions of dollars per year. Internationally too, NBA is growing rapidly. It was valued at more than $ 2 billion dollars in China last year. It is mostly due to the high viewership there. Some of the best players in the league are Chinese. Most players in the US are from outside. In Europe; the NBA is getting rave reviews. It’s the new frontier in NBA.In all considerations, the international prospects of the NBA look promising.
The current increasing value of NBA teams can be traced to some factors.
- The Los Angelo’s deal in which billionaire business person paid $ 2 billion for the team had a ripple effect on the market. Now teams are worth what the next rich guy is willing to pay.
- The international market is recording a growth of 18 % a year. It’s also undergoing intense monetization. Thus, its value is going through the roof.
- The cool factor. It’s now fashionable to own an NBA team.
The Atlanta Hawks are an attractive team. They are owned by the company Atlanta LLC led by billionaire business person Bruce Leverson.Mr Leverson acquired the Hawks in 2004 for $ 250 million from Turner Broadcasting. The deal included the hockey team and the operating rights to the Philips Arena. The hockey team was sold off for $ 171 million in 2011.TheHawks have a young team roster and new TV deals. The Hawks are also located 3-hour hop from any major city.
Mr Levenson according to Time.com is the co-founder of United Communications group and founding partner of Atlanta Hawks LLC.UCG was founded in 1977.Ed Peskowitz Is the other majority partner in Atlanta Hawks LLC.He is a graduate of political science from Washington University and a law degree from the American University. He is married to Karen Levenson, and together they have three kids. Mr Leverson is also a renowned business person and philanthropist. His interests in business span from applications, gas buddy, to toast bread making the machine.