According to the standings and Monday’s road win in Memphis, the Mavs are one of the NBA’s best teams.
And according to Forbes, they’re also one of the league’s most valuable franchises.
As Dallas prepares to play the Timberwolves in Minnesota tonight, the financial magazine put out its annual NBA report and pegged the Mavs as a serious money-maker.
Bottom line: Mark Cuban bought the Mavs in January of 2000 for $285 million. In January of 2015 they’re now worth $1.15 billion.
The latest news from around North Texas.
Forbes noted considerable bumps across the league, citing the new $24 billion TV rights deal as the catalyst for a 74-percent growth.
The Mavs are now the 10th-most valuable NBA franchise, with the Bulls, Knicks and Lakers atop the list. It’s a nice rebound for Cuban, as the franchise has made almost $70 million in profit the last two seasons after losing $180 million over his first 12 years of ownership.
Helping the bottom line has been Cuban’s salary-cap sensibilities and the second-highest average attendance in the NBA. The Mavs have also sold out every game at American Airlines Center since December 15, 2001, the longest active streak in the four major sports.
A native Texan who was born in Duncanville and graduated from UT-Arlington, Richie Whitt has been a mainstay in the Metroplex media since 1986. He’s held prominent roles on all media platforms including newspaper (Fort Worth Star-Telegram, Dallas Observer), radio (105.3 The Fan) and TV (co-host on TXA 21 and numerous guest appearances, including NBC 5). He currently lives in McKinney with his wife, Sybil, and two very spoiled dogs.