In 2012, the Lakers (\$900M), Knicks (\$780M), Bulls (\$600M), and Mavericks (\$497M) were the top four most valuable franchises, with the Warriors at #8 (\$450M). Fast forward to 2025: the league has exploded - fueled by media deals, tech billionaire owners, and global expansion. The Warriors (\$11B) now reign supreme, while the Clippers rocketed from #20 to #4 after Steve Ballmer's purchase and new arena. As of 2025-10-31 the average NBA franchise grew +1,263% since 2012, dwarfing the S&P 500's +384% - making NBA teams one of the best-performing asset classes of the decade. Ribbon thickness shows valuation. Data sourced from Forbes annual reports.