Arizona, as a state, is only two months older than Fenway Park, home of the Boston Red Sox. It can take years - possibly generations - for fan loyalties here to match those in many older cities. That could be one factor dampening local sports franchise values. Metro Phoenix has moved up in the population rankings, but household incomes here are still fairly low compared to other top U.S. As with the Cardinals in the NFL and the Suns in the NBA, the Diamondbacks have a relatively low franchise value compared to their baseball rivals. Forbes pegs the team as worth around $1.4 billion, in 21st place overall, compared to a median or midpoint value around $1.7 billion for all 30 MLB franchises. At around $3.4 billion, the estimated median or midpoint value of NFL franchises is almost double the NBA median of around $1.9 billion. But even in 27th place among the 32 NFL franchises, the Cardinals are still worth an estimated $2.65 billion, according to Forbes. 18 by Forbes among the 30 NBA teams, the Cardinals also are a second-division player in terms of perceived financial worth. More coverage: Who can afford to buy the Phoenix Suns and Mercury from Robert Sarver? Paul area or greater Salt Lake City, one would think the Suns could fetch a higher price than those deals, especially given a rabid fan base here and a highly competitive team.īut a Suns sale price might not match the $3.3 billion paid in 2019 for the Brooklyn Nets, located in greater New York, or possibly even the $2.2 billion paid in 2017 for the Houston Rockets, also in a bigger market. Given that metro Phoenix is more populous than either the Minneapolis-St. Among transactions of late in the NBA, the Utah Jazz sold for just under $1.7 billion in 2020 and the Minnesota Timberwolves are set to change hands by the end of 2023 for $1.5 billion. When MGM Resorts International, a public company, sold the Las Vegas Aces last year, the company didn't mention the sales price in their financial statements. An ESPN article said teams in the league typically change hands for around $10 million to $15 million. Terms for WNBA transactions aren't routinely disclosed. The Suns, as opposed to the Mercury, would represent the bulk of any sales price. View Gallery: Photos: Phoenix Suns owner Robert Sarver through the years
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