Forbes Values Mavs At $685 Million
DALLAS (CBSDFW.COM) - The Dallas Mavericks are worth a staggering $685 million, the 5th highest total in the NBA, according to an annual study released by Forbes.
Only the New York Knicks ($1.1 billion), Los Angeles Lakers ($1.0 billion), Chicago Bulls ($800 million) and Boston Celtics ($730 million) are valued higher.
The study shows that the average NBA team is worth $509 million, a 30 percent increase over last year. The study attributes the increase in values to higher television revenues, improved arenas, and the newly signed collective bargaining agreement, which reduced player salaries from 57 percent to 50 percent of basketball related revenue.
The valuation is a significant increase for the Mavericks, who were valued at $438 million in 2011 and $490 million in 2012. The study also estimates a profit of $13 million, compared to a -$3.9 million operating income in 2012.
Owner Mark Cuban purchased a majority stake in the team in 2000 for $285 million.
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