It's not worth that much. But there's only 30 NBA teams and one was just on the market now. If you're a billionaire, you'll have to overpay for your toy.
Is it really overpaying? If a willing buyer and willing seller agree on this price, isnt that just the market at work?
Granted that the market for NBA team ownership is limited, and the supply is quite limited, with only 30 teams.
Assessing the market value or business valuation of a sports franchise, must be very different from how the value of other businesses are determined.
If I were a billionaire, a pro team is the last thing I would buy. Each league comes with numerous strings attached to all team owners. You don’t feel like a billionaire when you join a club that tells you how to behave. And is dependent on revenue from the likes of China and American advertisers. It can’t help but be frustrating.