Lakers Proclaimed Most Valuable NBA Team
The Lakers can add ad another crown to their collection as Forbes magazine on Thursday proclaimed the squad the most valuable team in the NBA.
Hot off last season's championship, the magazine valued the franchise at $607 million, which topped the New York Nicks (#2; $586 million), the Chicago Bulls (#3; $511 million) the Detroit Pistons (#4; $479 million) and the Cleveland Cavaliers (#5; $476 million).
"The Lakers continue to be a juggernaut on and off the court," states Forbes." ... The priciest tickets in the NBA generate $2 million a game for the Lakers' owners."
The team is owned by Jerry Buss and Staples Center owner Phil Anschutz. Forbes states Buss bought in for $20 million in 1979; Anshutz pitched in $268 million for a 27 percent stake in 1998.
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you'll never miss LA Weekly's biggest stories.