The Brooklyn Nets gained 10% in Forbes valuations of NBA teams, but other teams jumped higher and for the first time in years, the franchise is not listed in the top 10, per the magazine’s rankings. When the Tsais purchased the Nets in 2019, the Nets were at No. Barclays Center, part of the Forbes valuation, has lost money every year in its 11-year history. The $3.85 billion valuation is also the average NBA franchise valuation, per Forbes. In Forbes daily billionaire rankings, Joe Tsai is listed as the 300th wealthiest man in the world at $7.7 billion.

Source: Forbes October 30, 2023 14:44 UTC