NBA Revenues Soar: A Look at the Highest-Earning Teams and Revenue Streams

The NBA is projected to rake in a staggering $13 billion in revenue this year, marking an impressive 11% increase from last season. This surge is set to drive NBA team valuations to new heights, continuing a trend that has seen team values outpace the growth of other major U.S. sports leagues by a significant margin. Since 2005, the combined valuation of NBA teams has grown more than threefold compared to the S&P 500.

The above graphic, based on data from JP Morgan Asset Management, highlights the top NBA teams by revenue for the 2022-2023 season.

Ranked: The Highest-Earning NBA Teams

Ranking	Team	2022-2023 Season Revenue	Valuation
1	Golden State Warriors	$765M	$7.7B
2	Los Angeles Lakers	$516M	$6.4B
3	New York Knicks	$504M	$6.6B
4	Boston Celtics	$443M	$4.7B
5	Dallas Mavericks	$429M	$4.5B
6	Los Angeles Clippers	$425M	$4.7B
7	Houston Rockets	$381M	$4.4B
8	Chicago Bulls	$372M	$4.6B
9	Philadelphia 76ers	$371M	$4.3B
10	Miami Heat	$371M	$3.9B
11	Brooklyn Nets	$367M	$3.9B
12	Phoenix Suns	$366M	$4.0B
13	Denver Nuggets	$348M	$3.4B
14	Cleveland Cavaliers	$348M	$3.4B
15	Milwaukee Bucks	$329M	$3.2B
16	Atlanta Hawks	$326M	$3.3B
17	Washington Wizards	$323M	$3.5B
18	San Antonio Spurs	$319M	$3.3B
19	Toronto Raptors	$305M	$4.1B
20	Portland Trail Blazers	$300M	$3.1B
21	Sacramento Kings	$289M	$3.3B
22	Utah Jazz	$274M	$3.1B
23	Detroit Pistons	$274M	$3.1B
24	Charlotte Hornets	$269M	$3.0B
25	Oklahoma City Thunder	$267M	$3.1B
26	Indiana Pacers	$263M	$2.9B
27	New Orleans Pelicans	$262M	$2.6B
28	Orlando Magic	$261M	$3.0B
29	Minnesota Timberwolves	$259M	$2.5B
30	Memphis Grizzlies	$258M	$2.4B

Revenue figures are net of arena debt service and revenue sharing.

The Golden State Warriors: Leading the Pack

With $765 million in revenue, the Golden State Warriors are the highest-earning team in the league. Stellar performances by all-star players Klay Thompson, Stephen Curry, and Draymond Green have been instrumental in driving the franchise’s valuation from $1.5 billion in 2015 to an astonishing $7.7 billion in 2023. This makes the Warriors the second-most valuable sports team in America, trailing only the Dallas Cowboys, valued at $9 billion.

The Warriors’ revenue has increased sevenfold since 2010, bolstered by the highest NBA TV ratings in seven of the last eight years and the largest social media following among U.S. sports franchises, with 32.4 million Instagram followers. In comparison, the Los Angeles Lakers have 24.6 million followers. The team’s jersey patch deal with Rakuten, worth approximately $45 million per season, further underscores their revenue-generating prowess.

Other Top Earners

Ranking second, the Los Angeles Lakers earned $516 million in revenue, driven by the star power of LeBron James and the team’s globally recognized brand. Their revenues have increased by 76% over the last decade, with a five-year $100 million jersey patch deal with Korean food brand Bibigo signed in 2021.

The New York Knicks come in third with $504 million in revenue, followed by the Boston Celtics at $443 million, and the Dallas Mavericks at $429 million.

How Do NBA Teams Earn Revenue?

The NBA’s revenue streams for the 2022-2023 season are diversified across several key areas:

Revenue Stream	2022-2023 Season Revenue	Share of Revenues
National Revenue (Media/broadcast deals, merchandise, shared ticket revenue, other sponsorships)	$4.5B	41%
Seating/Suites	$2.9B	26%
Local Media	$1.4B	13%
Team Sponsorships	$1.3B	12%
Concessions/Parking/Other	$0.9B	8%

National revenue constitutes the largest share, driven by lucrative broadcasting and streaming agreements. The league is currently negotiating broadcasting deals with Amazon, ESPN, and NBC worth an estimated $76 billion over 11 years, which would increase the annual contract value by 2.6 times. With NBA viewership up 16% across ESPN and ABC compared to the 2021-2022 season, strong demand is fueling these bigger media deals. During the 2022-2023 season, average viewership reached 1.7 million per game across these outlets.

Ticket and suite sales, another significant revenue source, totaled $2.9 billion for the season. Courtside tickets can cost upwards of $3,000 per seat, attracting a host of celebrities.

Local media deals contributed $1.4 billion, while team sponsorship deals added $1.3 billion to the league’s revenue.

As the NBA continues to grow and capture global attention, the league and its teams are poised to maintain their upward trajectory in both revenue and valuation.