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Suns losing on the court, winning at the bank

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The Suns could be worth over $2 billion by the time the team returns to the postseason.

NBA: Philadelphia 76ers at Phoenix Suns Mark J. Rebilas-USA TODAY Sports

A franchise record seven consecutive seasons without a playoff appearance hasn’t stopped the value of the Phoenix Suns from skyrocketing, Forbes reported on Wednesday.

According to the American business magazine the Suns are now worth a staggering $1.28 billion dollars. That ranks 17th among 30 NBA teams.

The league average is $1.65 billion. That’s up 22% from last year. This marks the first time that every NBA franchise has been valued at north of $1 billion.

While the Suns win total has been cut in half the last five years, the value of an NBA franchise has tripled. It remains to be seen if or when the former trend will change, but the latter shows no signs of slowing down.

“We’re seeing growth in all lines of business, whether it’s content distribution, sponsorships, or merchandise, NBA Deputy Commissioner and Chief Operating Officer Mark Tatum said. The NBA and the consumption of our product continues to grow, which is really driving the valuation of NBA China.”

The Suns saw a bump of 16% from the prior season. You can find the full NBA valuation rankings here.