(CBS) The Bulls’ worth has doubled in the past year and is now estimated to be $2 billion, according to Forbes.
That makes the Bulls the third-most valuable franchise in the NBA, behind the Lakers ($2.6 billion) and the Knicks ($2.5 billion). The rapid rise in value for the Bulls and NBA teams in general is attributed largely to a massive nine-year TV deal that will kick in for the league in the 2016-’17 season. The total value of that deal has been reported to be $24 billion. That works out to about $2.67 billion per season, about three times more than the annual value of the current TV deal.
The Bulls’ revenue is estimated at $201 million by Forbes, with operating income at $65 million. The Bulls have led the NBA in attendance for five straight seasons, according to Forbes.
The league average value for franchises is just over $1.1 billion.