Forbes released its annual list of NBA valuations today and the numbers showcase some steady growth for the NBA and its 30 franchises. Vivek Ranadivé in particular is probably pretty happy as the team's value has already almost doubled since he bought the franchise for $535 million in 2013. Forbes has increased the Kings' valuation from $800 million last year about 16% to $925 million, making the Kings the 18th most valuable team in the NBA.
One of the biggest reasons for the increase in valuation for the Kings is the fact that they're going to be moving to their new home, the Golden 1 Center, for next season. Forbes notes that the Kings have already had all lofts and suites reserved and more than 12,000 fans are on the waiting list for season tickets (it's unclear if that number includes current season ticket renewals).
Despite total revenue increasing to $141 million however, the Kings operating profit continues to shrink year after year to $4.1 million this year. According to Forbes, only the Charlotte Hornets and Washington Wizards operate at less profit than the Kings at $3.7 million and $2.9 million respectively, while the Brooklyn Nets are the only team in the league operating at a loss ($5.7 million). That small margin for Sacramento is likely due to an increase in team payroll as well as funds going to the building of the new arena.
Now it's up to the basketball side of the Kings to start growing as much as the business side...