Pacers Improve in Value RankingsPosted: Updated:
The value of the Indiana Pacers has increased by nearly $100 million in a publication's annual ranking of National Basketball Association franchises. However, the organization is still near the bottom of list. Forbes says the total revenue of the league's 30 teams reached $4.6 billion last year. The Pacers came in at 22nd overall, with an estimated operating profit of $12 million. The organization is now valued at $475 million, with revenue exceeding $121 million.
On-court advertisement is one new revenue stream for the team. Forbes says the Indiana Economic Development Corp. became the first organization to be featured on the hardwood after the league allowed the option at the beginning of this season.
After reaching the Eastern Conference Finals in 2012-2013, attendence numbers have also jumped this season.
Last year, the Pacers came in 24th place, with an overall value of $383 million.
The top teams are:
1. New York Knicks ($1.4 billion)
2. Los Angeles Lakers ($1.35 billion)
3. Chicago Bulls ($1 billion)
4. Boston Celtics ($875 million)
5. Brooklyn Nets ($780 million)