It takes more than a few losing seasons for a storied NBA franchise to lose its luster.
Forbes Magazine released Wednesday its annual NBA team value rankings, and the Boston Celtics come in at No. 4 with an estimated value of $1.7 billion.
“The Celtics are one of the NBA’s most profitable teams since they pay no rent at TD Garden and pull in over $60 million a year in local television revenue, including their equity stake in Comcast SportsNet New England,” Forbes’ Kurt Badenhausen writes.
The C’s appear destined to miss the playoffs for a second consecutive season, but mediocrity reigns atop this year’s edition of Forbes’ rankings. Of the top four most valuable franchises, three (the Celtics, Los Angeles Lakers and New York Knicks) entered Wednesday outside of the postseason picture. The Lakers ($2.6 billion) topped the list, while the Knicks ($2.5 billion) came in at No. 2.
The exception was the third-ranked Chicago Bulls ($2 billion), who currently hold the fourth-best record in the Eastern Conference.
Forbes estimates the average value of an NBA franchise at $1.1 billion — a 74 percent increase from last year. The Milwaukee Bucks rank dead last at $600 million.
Thumbnail photo via Charles Krupa/Associated Press