Local

Pistons’ Value Drops

View Comments
Detroit Pistons logo

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

DETROIT (WWJ/AP) – Just a year ago, the Detroit Pistons were the fourth most valuable franchise in the NBA, but that is no longer the case. The team has now dropped to #13.

The rankings, put together by Forbes magazine, list the New York Knicks as the league’s most viable franchise at $655 million. The Pistons have gone from $479 million last year down to $360 million – or a drop of 25 percent.

It comes at a time when the widow of the owner, the late Bill Davidson, is trying to sell the club. The trend is being blamed on a losing team and a bad economy.

But, if it’s any comfort the Cleveland Cavaliers saw the biggest value decrease in the NBA from year to year with a league-high drop of 26 percent to $355 million.

Elsewhere around the NBA, the Lakers went up 6 percent from $607 million to $643 million. Chicago was third at $511 million, followed by Boston ($452 million), Houston ($443 million) and Dallas ($438 million). After signing Lebron James, the Miami Heat had the biggest percentage rise, a 17 percent increase to $425 million, good for seventh place.

(Copyright 2011, WWJ Newsradio 950. All Rights Reserved. The AP contributed to this report.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 1,935 other followers