Back when buying an NBA team seemed like an exotic hobby for thrill-seeking executives, the league spent half a century turning sports franchises into some of the planet’s most reliable investment assets. An owner who entered at the right moment and nurtured the brand correctly now leaves the game not merely secure, but with wealth tens or even hundreds of times larger than the initial stake. Below are twenty-two stories that show how basketball generated astronomical profits—and the price of mistakes made by those who assumed they were simply sitting on a treasure chest.
Hollywood Empire: The Lakers and the Buss Family Legacy — From $67.5 M to $10 B
Jerry Buss came into the league in 1979, when the NBA was still searching for TV ratings, and exited as the chief director of its greatest show. Showtime basketball, big-name signings, and bold arena experiments turned the “Lake Show” into a glossy brand on par with Hollywood. Over four decades the team won 11 titles and lined a shoreline of superstars—from Magic to LeBron. Unwilling to face endless luxury-tax bills and the perpetual innovation race, Buss’s heirs cashed out at the very top, selling the club for a record $10 billion.
A Reborn Dynasty: Grousbeck’s Boston Celtics — From $360 M to $6 B
At the century’s turn, basketball’s most decorated franchise was in a mystic slump: the deaths of Len Bias and Reggie Lewis, and Red Auerbach’s farewell. The Grousbeck family took control in 2002, built the Pierce–Garnett–Allen super-team in five years, then fleeced Brooklyn for ageless draft picks. The result: an 18th banner and a valuation of $6 billion. Wyc Grousbeck exited ahead of a tax avalanche—half-billion-dollar payroll bills even loyal “Green Teamers” balk at.
The Sun at Its Zenith and Dusk: The Phoenix Suns — From $401 M to $4 B
Robert Sarver arrived in Arizona with a reputation for thrift and never wavered. Stars left; the Finals remained distant. When Devin Booker’s Suns finally contended, Sarver was hit by a toxic-workplace investigation. A one-year ban and a $10 million fine later, Matt Ishbia took over. He traded billions for Kevin Durant and Bradley Beal—gaining chaos and the highest luxury-tax bill in league history, but no ring.
Russian Roller Coaster in New York: Mikhail Prokhorov’s Brooklyn Nets — From $223 M to $3.3 B
The Russian billionaire stormed into the NBA in 2010 with flashy trades, a New Jersey-to-Brooklyn move, and Barclays Center. Garnett and Pierce proved spent, yet the arena hype let Prokhorov sell at nearly 15× his cost. Asset: New York’s prime arena; liability: proof that titles aren’t for sale.
Genius on the Court, Amateur in the Office: Michael Jordan and Charlotte — From $275 M to $3 B
The GOAT played owner-player for years, out-dueling kids in practice but whiffing on draft night. The Bobcats—later Hornets—sat in the cellar. By 2022 Jordan had lost interest, quietly unloading his stake at a ten-fold gain—the greatest Air Jordan leap off the court.
Dollar Rocket: Leslie Alexander’s Houston Rockets — From $85 M to $2.2 B
Two titles with Olajuwon and Drexler, a Yao Ming cult in China, and the Harden heist made Houston soar like a tech start-up. When Sterling’s Clippers sale revealed market reality, Alexander locked in profits, selling to Tilman Fertitta and dodging the incoming tax tsunami.
A Billion-Dollar Step Into Scandal: Donald Sterling’s Racist Exit and the Clippers — From $12.5 M to $2 B
Sterling pinched pennies and tolerated losing for decades—until a racist recording forced the loudest sale in sports history. The NBA ousted him, Steve Ballmer paid $2 billion, and valuations skyrocketed.
Dallas After Mark Cuban: When a Deal Turns Into Drama — 72% Stake at a $3.5 B Valuation
Cuban sold control to the Adelsons, kept 28% and the public face. Patrick Dumont then played armchair GM, dismantled Cuban’s finalist core, and even gifted Luka Dončić to the Lakers. The spreadsheets smiled; Mavs fandom did not.
Utah Jazz: Family Harmony Turned Diversification — From $14 M to $1.6 B
Larry Miller built a small-market power that twice reached the Finals. His heirs saw single-asset risk and sold to Utah native Ryan Smith, who dreams of leading the Jazz back to title music.
Northern Winds of Change: Minnesota Timberwolves and Glenn Taylor’s Long Goodbye — From $88 M to $1.5 B
After wasting Kevin Garnett, Minnesota was chaos incarnate. Taylor agreed to sell at $1.5 billion, then panicked as other deals spiked prices. The NBA finally closed the sale in 2025; new owners Marc Lore and Alex Rodriguez have since reached back-to-back West finals.
Hockey in the Raptors’ Shadow: Larry Tanenbaum’s Deal — From $467 M to $1.3 B
Tanenbaum sold 75% of Maple Leaf Sports & Entertainment yet kept control, funding a Raptors reboot. By 2019 they hoisted a title and eclipsed hockey as Toronto’s flagship brand.
Manhattan Never Sells Cheap: New York Knicks — From $185 M to $1.1 B
Gulf & Western bailed after ’94 Finals buzz, flipping to ITT Corp. Three years later the Dolans paid $650 million; fans still debate which regime piled on more misery.
Gray Days in the Capital: Washington Wizards — From $1.1 M to $550 M
Abe Pollin ran the team 46 years, hoisted one banner, and stayed frugal. After his death heirs sold to Ted Leonsis, chasing synergies with his NHL club.
Greek Jackpot: Milwaukee Bucks — From $18 M to $550 M
Steady owner Herb Kohl drafted Giannis a year before selling. Then $550 million looked great; post-2021 title it feels like a giveaway.
Quiet South: Atlanta Hawks — From $250 M to $850 M
Atlanta Spirit delivered steady playoffs and zero buzz. NBA growth still tripled their stake in 11 years, handing the keys to Tony Ressler.
Buying the Whole Package: Denver Nuggets and Extras — From $54 M to $450 M
COMSAT tired of 1990s hoops chaos. Stan Kroenke bought Nuggets, Avalanche, and Pepsi Center in one swoop. Now both teams are champions, and Kroenke profits from puck and orange leather alike.
Unexpected Cash-Out: The Old Celtics Sale — From $15 M to $360 M
Gaston, Dupree, and Cohen oversaw Bird’s last peak and the grim ’90s. Ira Grousbeck’s 2002 offer beat Forbes by one-third; they took pension peace over future billions.
LeBron’s Lottery Ticket: Cleveland Cavaliers — From $20 M to $375 M
Gordon Gund built a new arena and respectability, but mediocrity reigned until LeBron arrived in 2003. Dan Gilbert’s 2005 bid showcased the mega-star effect on valuations.
Basketball Magnate From Scratch: Jerry Colangelo’s Phoenix — From $44.5 M to $401 M
Colangelo rose from scout to desert lord: he built America West Arena, added Barkley, and exploited new rules with two-time MVP Steve Nash. Selling to Sarver for $401 million in 2004 started a new price spiral.
Almost Seattle: Maloof Brothers’ Sacramento Kings — From $158 M to $534 M
Webber, Divac, and Peja formed the Kings’ best roster, yet bankruptcy loomed. A 2013 Seattle move fell apart only after NBA intervention. New boss Vivek Ranadivé still pays for old sins—see the Haliburton-for-Sabonis swap.
Bay-Side Miracle: Golden State Warriors After Cohan — From $119 M to $450 M
Cohan gave fans “We Believe” but 15 years of pain. Drafting Curry in 2009, he sold to Joe Lacob for $450 million. The new owners then won three titles and saw valuations soar into the tens of billions.
Nomad Club: New Orleans Pelicans — From $32.5 M to $338 M
George Shinn moved cities, rode out Katrina, and lost Paul and Davis to L.A. A 2012 sale to Tom Benson delivered a routine 10×, but peer assets soon topped a billion.
Why Basketball Is Worth More Than Gold
Each tale is a litmus test for modern sport’s rule one: brand and media rights outweigh arenas, stars, even titles. Success blends timely entry, robust infrastructure, stable TV cash, and emotional detachment at exit. The NBA grows faster than stock indices; new records lurk around the corner—just wait for the next media deal or global surge. In this league the math is simple: sink a shot, the score climbs; time the market, fortune multiplies.
