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By Spike Eskin
PHILADELPHIA (CBS) – The Sixers might have a worse record than they did last season, but the franchise is worth more.
The Sixers are currently ranked at the 20th most valuable franchise in the NBA at $418 million, according to Forbes magazine. The report says the team operated and an $800,000 loss in 2012. The Sixers are less valuable than the Cleveland Cavaliers, the Sacramento Kings, and Phoenix Suns, and sit just ahead of the Toronto Raptors and Washington Wizards.
The top five teams on the list are the New York Knicks at $1.1 billion, the Los Angeles Lakers at $1 billion, the Chicago Bulls at $800 million, the Boston Celtics at $720 million and the Dallas Mavericks at $685 million.
It’s likely that Sixers would have a much better record this season if Andrew Bynum would have been healthy and the team’s starting center. It’s also likely that the attendance would have been much better as well. Bynum’s presence might even mean the team itself could be more valuable right now.
An ownership group led by Josh Harris purchased the Sixers from Comcast Spectacor in 2011 for a reported $280 million. At the time, Forbes valued the Sixers at $330 million.