In the world of Forbes Magazine, it's not as much about wins and loss, but more about dollars and cents. The financial news giant released their rankings of the NBA's most valuable teams and the Philadelphia 76ers are nowhere near the top.
Forbes lists the New York Knicks as the most valuable team in the NBA at $3.3 billion, buoyed by a $1 billion renovation of Madison Square Garden. The Sixers are 25th on the list, valued at $800 million. The average NBA team is valued at $1.36 billion, which is 3.5 times what it was only five years ago, thanks mostly to some very lucrative television contracts and interest from overseas, the report notes.
Five years ago, a few months after Joshua Harris bought the Sixers for $280 million, Forbes ranked the team 17th on this list, valued at $330 million. While the team has grown drastically in value since then, they have grown at a much slower pace than the rest of the league.
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The future in business, however, looks bright and over the next few years, the Sixers could find themselves in a much higher position on this list. Off the court, the team has been active in seeking new revenue streams, such as their pact with Stub Hub as the league's first jersey sponsorship and the acquisition of Team Dignitas and Apex Gaming as the first North American professional sports team to own an eSports team. The Sixers have also built a brand new practice facility in Camden, N.J.
On the court, players like Joel Embiid and Ben Simmons will continue to add value locally and domestically. The Sixers also have many international players, which will help the franchise grow globally.
While low on the list now, the Sixers seem to have the pieces in place to be one of the big movers in the near future.