By Ashley Dunkak
DETROIT (CBS DETROIT) – Currently worth $450 million, the Detroit Pistons rank 25th in the NBA in terms of franchise value, according to Forbes, with revenue of $139 million and an operating profit of $10 million.
The Pistons went to the playoffs eight straight times between 2002 and 2009. In the past four seasons, they missed the postseason every time, and the team’s season ticket base shrunk to half of its previous value, according to Forbes.
This year, though, ticket sales are up 36 percent. Detroit is currently 17-24, 9th in the East. Forbes mentions $40 million worth of renovations by owner Tom Gores as a potential reason for the upswing in ticket sales, though it also notes that the Pistons have still had trouble selling suites, with only 10 of 64 leased.
The only teams ranked below Detroit in value were Minnesota, Atlanta, New Orleans, Charlotte and Milwaukee.
In stark contrast, the New York Knicks, Los Angeles Lakers and Chicago Bulls were all valued at more than $1 billion. All three teams brought in profit of more than $50 million.