CNBC's Official National Basketball Association Team Valuations represent current enterprise values — equity plus net debt — calculated using revenue multiples based on historical control transaction prices. Purchase prices are for control stakes and consider payment structure and the value of a deal over time. Our valuations include the economics of the team's arena, including non-NBA revenue, such as concerts, which accrue to the team's owner.

CNBC's valuations are based on the team's current arena, unless there is an agreement in place for the team to move or get a new arena. For example, the Los Angeles Clippers moved into their new arena, the Intuit Dome, for the 2024-25 season. Financial figures for the current season are not available yet, but our $5.4 billion valuation is our best estimate of the new arena's economics.

Our enterprise values, and figures for revenue and EBITDA, or earnings before interest, taxes, depreciation and amortization, do not include the value of equity stakes in non-NBA businesses, such as regional sports networks and Women's National Basketball Association teams. For example, we include the $57 million rights fee NBC Sports Boston paid the Celtics last season but exclude the $13 million equity income the RSN paid the Celtics.

Revenue and EBITDA figures are for the 2023-24 season and are net of revenue sharing and the 25% of home playoff gate revenue that goes toward the revenue-sharing pool. EBITDA is also net of luxury tax payments. Figures for the Toronto Raptors are in U.S. dollars.

Sources for CNBC's Official NBA Team Valuations include team owners, investors and executives; sports bankers and league consultants; public documents such as stadium lease agreements, stadium authority budgets and audits, and credit rating reports; and sponsorship and broadcasting industry executives. Figures that could not be confirmed with sources are CNBC estimates.

Check out the full list of CNBC's Official 2025 NBA Team Valuations.

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