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Suns worth more than seven playoff teams

SO, IT’S A GREAT TIME TO SELL......RIGHT?!?!

Orlando Magic v Phoenix Suns Photo by Christian Petersen/Getty Images

Your Phoenix Suns are currently valued at $1.5 billion, according to Forbes. That’s more than seven playoff teams.

That’s IF the NBA Playoffs started today, a phrase I hate reading yet have inexplicably included in this text. The Suns are worth more than the Thunder, Jazz, Pacers, Nuggets, Bucks, Hornets, and Pistons.

The New York Knicks top the list at $4 billion, the Memphis Grizzlies are in the cellar, worth a paltry $1.2 billion. The league average is $1.9 billion, up 13 percent from 2018. NBA franchises have tripled in value across the last five years.

Forbes:

The Phoenix City Council approved a $230 million renovation of Talking Stick Resort Arena in January. The city will contribute $150 million from a tax on hotels and car rentals, while the team will contribute $80 million and cover any cost overruns. As part of the agreement, the franchise committed to Phoenix through at least 2037 with up to a $200 million fine if the Suns leave the city before then. The Suns also agreed to build a new practice facility in Phoenix at a cost of $25 million to $50 million. The Suns have not made the playoffs since 2010 and have the NBA’s worst record since the start of the 2015-16 season, losing nearly 75% of their games.

Suns owner Robert Sarver bought the team for $404 million in 2004.

The Suns’ next game is Thursday at Cleveland. Phoenix will be an underdog against a Cavaliers team that has won 7 of 29 at Quicken Loans Arena this season. Tip off is scheduled for 5:00 p.m. AZ time.