A franchise record seven consecutive seasons without a playoff appearance hasn’t stopped the value of the Phoenix Suns from skyrocketing, Forbes reported on Wednesday.
According to the American business magazine the Suns are now worth a staggering $1.28 billion dollars. That ranks 17th among 30 NBA teams.
The league average is $1.65 billion. That’s up 22% from last year. This marks the first time that every NBA franchise has been valued at north of $1 billion.
While the Suns win total has been cut in half the last five years, the value of an NBA franchise has tripled.