2025年NBA品牌排行榜-Brand finance

BrandFinance

NBA2025

TheannualreporTonThemosTvaluable&sTrongesTnbabrands

About

BrandFinance

BridgingthegapbetweenMarketingandFinance

BrandFinancewassetupin1996withtheaimof'bridgingthegapbetweenmarketingandfinance'.Formorethan25years,we

havehelpedcompaniesandorganisationsofalltypestoconnecttheirbrandstothebottomline.

Quantifyingthe

financialvalueofbrands

Weputthousandsoftheworld’sbiggestbrandstothetesteveryyear.Ranking

brandsacrossallsectorsandcountries,wepublishover100reportsannually.

Uniquecombinationofexpertise

Ourteamshaveexperience

acrossawiderangeofdisciplines

frommarketingandmarketresearch,tobrandstrategyandvisualidentity,totaxandaccounting.

Pridingourselves

ontechnicalcredibility

BrandFinance,acharteredaccountancy

firmregulatedbytheInstituteofCharteredAccountantsinEnglandandWales,isthefirstbrandvaluationconsultancytojointheInternationalValuationStandardsCouncil.Ourexpertscraftedstandards(ISO10668andISO20671)andourmethodology,

certifiedbyAustrianStandards,isofficiallyapprovedbytheMarketingAccountabilityStandardsBoard.

Theworld's

leadingbrandvaluation

consultancy

Forbusinessenquiries,pleasecontact:

enquiries@

Formediaenquiries,pleasecontact:

press@

+442073899400

BrandFinanceNBA2025/nba3

Contents

Foreword5

LaurenceNewell,ManagingDirector,BrandFinanceAmericas

SectorOverview6

ValuationAnalysis8

MostValuableNBATeamBrands20259

MostValuableBrand:GoldenStateWarriors11

BrandtoWatch:DetroitPistons12

BrandStrengthAnalysis13

Insights16

Bridgingthegapbetweenperceptionand17

engagementinAmericansportsleagues

AnnabellaGarnham,SeniorAnalyst,BrandFinance

NBAresearchinsights21

ScottMoore,Manager,SportsServices,BrandFinance

HowNoLoalternativesarechangingthegame24

insportsmarketing

HenryFarr,ValuationDirector,BrandFinance

EnterpriseValuation26

BrandEquityResearch29

BrandValueRanking(USDm)32

Methodology33

SportServices43

©2025Allrightsreserved.BrandFinancePlc.

TheGoldenState

WarriorsremaintheNBA’smostvaluablebrand,evenasthedynastyerafades

+TheGoldenStateWarriorsremaintheNBA’smostvaluablebrandat$1.2billiondespitean18%brandvaluedecline

+TheLosAngelesLakersholdsecondplaceat$973million,down9%afterback-to-backfirst-roundplayoffexits

+TheNewYorkKnicksclimbintothirdwith

brandvalueup12%to$720million,boostedbyaruntotheEasternConferenceFinalsandstrongbrandperceptions

+TheChicagoBullsrisethreeplacestofourth,

withbrandvalueup36%to$616million,makingthemthefastest-growingNBAbrandthisyear

+TheLakers,Bulls,andCelticsaretheNBA’stopthreestrongestbrands

+Totalbrandvalueofall30NBAteamsfalls6%to$10.6billion

BrandFinanceNBA2025/nba5

Foreword

LaurenceNewell

ManagingDirector,

BrandFinanceAmericas

Whatisthepurposeofastrongbrand:toattractcustomers,tobuildloyalty,

tomotivatestaff?Alltrue,butforacommercialbrandatleast,thefirstanswermustalwaysbe‘tomakemoney’.

Hugeinvestmentsaremadeinthedesign,launch,andongoingpromotionof

brands.Giventheirpotentialfinancialvalue,thismakessense.Unfortunately,mostorganizationsfailtogobeyondthat,missinghugeopportunitiestoeffectivelymakeuseofwhatareoftentheirmostimportantassets.Monitoringofbrandperformanceshouldbethenextstep,butisoftensporadic.Whereitdoestakeplace,itfrequentlylacksfinancialrigorandisheavilyreliantonqualitativemeasures,poorlyunderstoodbynon-marketers.

Asaresult,marketingteamsstruggletocommunicatethevalueoftheirworkand

boardsthenunderestimatethesignificanceoftheirbrandstothebusiness.Skepticalfinanceteams,unconvincedbywhattheyperceiveasmarketingmumbojumbo,

mayfailtoagreenecessaryinvestments.Whatmarketingspendthereis,canend

uppoorlydirectedasmarketersarelefttooperatewithinsufficientfinancialguidanceoraccountability.Theendresultcanbeaslowbutsteadydownwardspiralofpoor

communication,wastedresources,andanegativeimpactonthebottomline.

BrandFinancebridgesthegapbetweenmarketingandfinance.Ourteamshave

experienceacrossawiderangeofdisciplinesfrommarketresearchandvisual

identity,totaxandaccounting.Weunderstandtheimportanceofdesign,advertising,andmarketing,butwealsobelievethattheultimateandoverridingpurposeof

brandsistomakemoney.Thatiswhyweconnectbrandstothebottomline.

Byvaluingbrands,weprovideamutuallyintelligiblelanguageformarketingand

financeteams.Marketersthenhavetheabilitytocommunicatethesignificanceof

whattheydo,andboardscanusetheinformationtochartacoursethatmaximizesprofits.Withoutknowingtheprecise,financialvalueofanasset,howcanyouknowifyouaremaximizingyourreturns?Ifyouareintendingtolicenseabrand,howcanyouknowyouaregettingafairprice?Ifyouareintendingtosell,howdoyouknowwhattherighttimeis?Howdoyoudecidewhichbrandstodiscontinue,whethertorebrandandhowtoarrangeyourbrandarchitecture?BrandFinancehasconductedthousandsofbrandandbrandedbusinessvaluationstohelpanswerthesequestions.

Professionalsportsfosterssomeofthemostrecognizablebrandsglobally.Top

teamssuchastheDallasCowboys,thePhiladelphiaEagles,theLosAngelesLakersandothersboastbrandstrengthsimilartothatofCocaColaandGooglewhichtrulyputstheircaliberintoperspective.Manyofthesetopfranchisesearnsizeablesumsthroughbroadcasting,commercialandmatchdayincomewithasignificantchunkofcommercialincomebeingderivedfromcorporatesponsorship,amarket

whichcontinuestogroweachyear.

Withsuchsignificantmoneyonthetableandtheriseofnewopportunitiesacrosstheindustry,thenecessityforaclearunderstandingofallaspectsofsportsfinanceiscrucialtothesuccessofallstakeholdersintheindustry.Wetrustyouwillfindtheinsightsgeneratedinthisreportinformativeandusefulinyourendeavors,andwelookforwardtocontinuingtheconversationwithyouinthefuture.

Sector

Overview

BrandFinanceNBA2025/nba7

SectorOverview

TotalBrandValueofteamsacrossglobalsportsleagues(USDm)©BrandFinancePlc.2025$26,504

$10,880$10,621

$5,762

$4,461

$2,221

$2,531

NFLPremierLeagueNBALaLigaBundesligaSerieALigue1

F

Thetotalbrandvalueofthe30NBAfranchises

standsatUSD10.6billionin2025,representinga

6%decreasecomparedto2024.Thiscontraction

reflectsamoderationfollowingseveralyearsofstronggrowth,assomeofthemomentumfrompreviously

optimisticforecastshaseased.Theoveralldeclineisalsoinfluencedbyweakerperformancesamongafewoftheleague’smostvaluablefranchises,

whichhaveadisproportionateimpactonthetotal.

Thisdeclinedoesnotnecessarilyindicateweakerfandemand.TheNBAcontinuestoenjoystrong

globalrecognition,withsignificantfollowingsin

marketssuchasChina,Europe,andLatinAmerica.

Domestically,leadingfranchisescontinuetodrawstrongattendanceandattractsponsorshipfrommajormultinationalpartners.

Incomparisonwithothersportsleagues,theNBA’sUSD10.6billiontotalbrandvalueputsitbroadlyonparwiththeEnglishPremierLeague

L

BUNDESLIGA

SERIEA

(USD10.9billion)butstillsignificantlybehind

theNFL(USD26.5billion).Europeansoccer’sothermajorcompetitions-LaLiga(USD5.8billion)andtheBundesliga(USD4.5billion)-remainwellbehind.

ThispositioninghighlightsboththeNBA’scommercialcloutanditscontinuedopportunityforgrowth,

particularlyasnewmediarightsrevenuesarerealizedinfutureyears.

Brandvalueandbrandstrengtharecentralto

franchisesuccessintheNBA,drivingrevenues

throughsponsorship,merchandising,andinternationalfanengagement,whilealsoservingasmagnetsfor

investmentandtopplayertalent.

Theleague’sglobalfootprintandentertainment-drivenpositioningmeanthattheNBAisuniquelyplacedto

continueexpandingitsreach,supportedbyincreasingaccessibilitytointernationalaudiencesanddeeperfanengagementthroughinitiativessuchastheNBAGlobalGamesandotherinternationalactivations.

ValuationAnalysis

BrandFinanceNBA2025/nba9

MostValuable

NBATeamBrands2025

Top10MostValuable©BrandFinancePlc.2025

NBATeamBrands2025

$1.2bn

GoldenStateWarriors

-18%

EN

#1

A

TheGoldenStateWarriorsremaintheNBA’smostvaluablebrandforthefourthconsecutiveyear,withabrandvalueofUSD1.2billion.Thisrepresentsan18%declineyear-on-year,drivenbymorecautiousrevenueforecastsandadeclineinbrandstrength.

Rl

#2

LosAngelesLakers

$1.0bn

-9%

#3

NewYorkKnicks

$0.7bn

+12%

#4

ChicagoBulls

$0.6bn

+36%

#5

BostonCeltics

$0.6bn

-30%

#6

Philadelphia76ers

$0.4bn

-2%

#7

MiamiHeat

$0.4bn

-7%

#8

PhoenixSuns

$0.4bn

-11%

#9

LosAngelesClippers

$0.4bn

-37%

TheLosAngelesLakersholdsecondplacewithabrandvalueofUSD973million,down9%from

LOSZAGEES

2024.Consecutivefirst-roundplayoffexits-againsttheDenverNuggetsin2024andtheMinnesota

Timberwolvesin2025,bothbya4–1margin-havelimitedrevenueopportunitiesbyreducingthenumberofhomeplayoffgamesandloweringvisibilityduringtheleague’smostcommerciallyvaluableperiod.

Thishascontributedtomorecautiousrevenueforecasts,furtheringthedeclineinbrandvalue.

CHICAGO

Nevertheless,theLakerscontinuetobenefitfromexceptionalbrandrecognition,withunparalleledawarenessandafollowingthatsupportstheir

positionasoneofthestrongestglobalfranchisesinanysport.

U

TheNewYorkKnickshaveclimbedoneplace

tothird,followinga12%increaseinbrandvalue

toUSD720million,drivenbyhigherrevenuesandimprovedforecastsafterasuccessfulseasonthatsawtheteamreachtheEasternConferenceFinals.

e

NinehomeplayoffgamesatMadisonSquareGarden,oneoftheleague’smostprofitablevenues,

generatedsignificantfinancialuplift.

Brandstrengthhasalsoimproved,withtheKnicks’BrandStrengthIndex(BSI)scorerisingto82.2outof100,supportedbyhighawarenessscoresandstrongteamperceptions,particularlyaroundbeing“innovative”and“culturallyrelevant.”

TheChicagoBullsrosetofourth,upfrom7thlast

year,asbrandvalueincreased36%toUSD616million,makingthemthefastest-growingNBAbrandthisyear.Growthhasbeenfueledbyan11%increaseinrevenues,supportedbynewcommercialdeals,includingthe

team’spartnershipwithFootLocker.

$0.4bn

DallasMavericks

-40%

#10

Theseresults,combinedwiththeBulls’strongglobalfanbaseandconsistentlyhighviewership,havedrivenhigherrevenueforecastsandhelpedreestablishthefranchiseamongtheNBA’seliteintermsofbrandvalue.

BrandFinanceNBA2025/nba10

ValuationAnalysis

TheBostonCelticsrankfifthatUSD613million,representingasharp30%declinefromlastyear.

Thedownturnisprimarilytheresultofreduced

revenueforecastsfollowingtheseason-endinginjurytostarplayerJaysonTatum,whichisexpected

todampenfanenthusiasm,ticketsales,andmerchandiserevenues.

Whiletheteamremainedcompetitive,finishingsecondintheEasternConferencewitha61–21record,thecombinationofloststarpowerandanexpensiveroster,hadpreviouslypushedtheteamdeepintotheluxurytax.However,recentrostermoves-includingmajortradestoreducepayroll-havesignificantlyloweredtheirexposure,easingsomeofthefinancialpressure.

BrandFinanceNBA2025/nba11

MostValuableBrand

GoldenStateWarriors

TheGoldenStateWarriorsareenteringaperiod

oftransition,movingonfromthedynastyyearsthat

deliveredfourchampionshipsbetween2015and2022.Thedepartureoflong-timestarKlayThompsonandadisappointing7th-placefinishintheWesternConferencehavesignaledtheendofanera,reshapingperceptionsofthefranchise’son-courtsuccess.

Oneareaofdecline,accordingtoBrandFinance

research,istheperceptionofhaving“world-class

players.”WhiletheteamretainsfutureHallofFamer

StephenCurry,theshiftawayfromarosterthatdefinedtheNBAoverthepastdecadehasinevitablydampenedfanexpectations.TheWarriorsarestillcompetitive,

buttheauraofinvincibilitythatmarkedtheirpeakyearshasfaded.

Nonetheless,theWarriorscontinuetooutpace

rivalssuchastheLosAngelesLakers,whoranksecondinthetable.Muchofthisstrengthisunderpinnedby

thefranchise’suniquepositionintheBayAreaaswellasthecommercialbenefitsofthestate-of-the-art

ChaseCenterArena.Combinedwithalargeglobalfanbasebuiltduringtheirchampionshiprun,thesefactorssustaintheWarriors’leadershipdespite

short-termsetbacks.

Top5NBATeamsBrandValueTrendLine|2022-2025(USDm)©BrandFinancePlc.2025

2000

1500

1000

500

•GoldenStateWarriors•LosAngelesLakers•NewYorkKnicks•ChicagoBulls•BostonCeltics

2022202320242025

BrandFinanceNBA2025/nba12

BrandtoWatch

DetroitPistons

TheDetroitPistonsdeliveredoneofthestandout

year-over-yeargainsintheNBAranking,withbrand

valueup32%toUSD219million.Thefranchiseclimbedeightplacesintheranking,from27thto19th,making

thePistonsthesecond-fastest-growingbrandthisyear,behindtheChicagoBulls.

On-courtprogresshasbeenacentralcomponent

oftheshift.Afteryearsofstruggle,Detroitfinished6thintheEasternConference-anine-placejumpfromthepriorseason-movingfromtheleague’sworstrecordtoaplayoffspot.Thisimprovementhashelpedboosttheteam'smarketperceptionsanditsfutureprospects.

Arefreshedrosterisalsohelpingresetperceptions.CadeCunningham’sAll-Starstatusandthereturn

ofJadenIveyfrominjuryhaveprovidedstarpowerandbackcourtdynamism,whileaddeddepthacrosstherotationhasmadetheteammorecompetitive.Together,thesefactorsunderpinamoreoptimisticoutlookfortheorganization’smedium-term

performanceandbrandtrajectory.

Afteradecadeoflimitedrelevance,Detroit’srapidimprovementsignalsameaningfulbrandrevival.

Thechallengenowwillbesustainingthisprogresstobuildfurthervalueintheseasonsahead.

BrandStrengthAnalysis

BrandFinanceNBA2025/nba14

BrandStrengthAnalysis

TheLosAngelesLakershaveonceagainsecuredthepositionastheNBA’sstrongestbrand,witha

BrandStrengthIndex(BSI)scoreof92.6outof100.

ThisplacesthemnotonlyatthetopoftheleaguebutalsoalongsidesomeofthemostrecognizableconsumerbrandsintheUnitedStates,suchas

Coca-ColaandNike.

TheLakers’strengthisunderpinnedbyunrivaledawarenessandpopularity,withBrandFinance’sresearchshowingtheteamscoresperfect10sinbothawarenessandfollowing.Despiterecentplayoffsetbacks,theLakers’brandstrength

remainsunshaken,atestamenttotheirenduringglobalappeal.

InsecondplacearetheChicagoBulls,withaBSI

scoreof90.5.Thefranchisecontinuestobenefitfromitsiconiclegacyandabroadinternationalfanbase.ResearchhighlightstheBulls’popularity,withperfect10scoresinmeasuressuchas“following”and

“favoriteteam.”

Top10Strongest

NBATeamBrands2025

©BrandFinancePlc.2025

92.6

#1

LosAngelesLakers

#2

ChicagoBulls

90.5

#3

BostonCeltics

89.7

#4

NewYorkKnicks

82.2

#5

GoldenStateWarriors

79.0

#6

MiamiHeat

71.4

#7

Philadelphia76ers

70.8

#8

OklahomaCityThunder

69.4

#9

ClevelandCavaliers

66.7

#10SanAntonioSpurs

66.2

ThePacificDivisionBrandStrengthAttributesHeatMap©BrandFinancePlc.2025

Weakerperformanceoooo●Strongerperformance

Factor

GoldenStateWarriors

LA

Clippers

LosAngelesLakers

PhoenixSuns

SacramentoKings

Brand

Perceptions

SportFollowing&Awareness

TeamAttributes

LeagueAttributes

Customer

Behaviours

TeamFollowing

LeagueFollowing&Engagement

TeamLoyalty

SocialMedia&SponsorAttractiveness

BrandFinanceNBA2025/nba15

BrandStrengthAnalysis

Thisstrongconsumerresonance,combinedwithrobustcommercialperformance,hashelpedpushtheBullsupintherankingsandmadethemoneoftheleague’sfastest-growingbrandsbyvalue.

TheBostonCelticsrankthirdwithaBSIof89.7,reflectingconsistentbrandstrengthdespiteachallengingseasonmarkedbytheinjuryof

starplayerJaysonTatum.Theteamcontinuestorecordstrongengagement,includinga9/10scorein“watchedmatchesonTV,”whichunderscorestheloyaltyandvisibilityoftheCeltics'fanbase.

TheircombinationofhistoricpedigreeandwidespreadsupportensurestheyremainoneofthemostpowerfulbrandsintheNBA.

Insights

BrandFinanceNBA2025/nba17

Bridgingthegapbetweenperceptionand

engagementinAmericansportsleagues

AnnabellaGarnham

SeniorAnalyst,BrandFinance

Everyyear,BrandFinancesurveysAmericansportsfanstounderstandwheresponsorshipvalueliesacrossthecountry’smostfollowedsportsandleagues.

Unsurprisingly,footballdominatesthelandscape,with88%ofAmericansportsfansfollowingthesport.Basketballcomesnextat67%,whilesoccerlagsbehindat39%.Yet,beneaththesebroadstatisticsliesamorecomplexpicture,onethatrevealsagrowingmismatchbetweenhowfansperceiveleaguesandhowtheyactuallyengagewiththem.

Attheheartofthisdivideisgenerationalbehavior.Themostfollowedleague

intheUSistheNationalFootballLeague(NFL),with79%ofAmericansportsfansclaimingtofollowit,accountingfor90%ofallfootballfans.WhatmakestheNFLparticularlyuniqueisitsreachacrossallagegroups.FromGenZtoseniorcitizens,engagementremainshighwith87%of18–24yearoldsfollowingtheleagueand

83%ofthoseaged65andolder.ThisuniqueconsistencyillustratestheNFL’snear-universalappeal.

Incontrast,legacyleagueslikeMajorLeagueBaseball(MLB)arestruggling

tomaintainrelevanceamongyoungergenerations.Whiletheleagueretainsa

strongfollowingamongolderfans(60%),thereisacleardrop-offasagegroupsgetyounger,witha14%differenceinbetweentheoldestandyoungestbrackets.Meanwhile,newerleaguessuchastheNationalWomen’sSoccerLeague(NWSL)areseeingtheoppositetrend.14%of18-24-year-oldsnowfollowtheNWSL,butthatfiguredropstojust8%amongthoseover65.

WhatsportsdoAmericansportsfansfollow(Figure1)©BrandFinancePlc202588%

67%

64%

39%

36%

32%30%

27%

FootballBasketballBaseballSoccerIceHockeyGolfTennisAutoRacing

BrandFinanceNBA2025/nba18

Insights|BridgingthegapbetweenperceptionandengagementinAmericansportsleagues

Thesepatternsshowhowleagueappealistightlylinkedtowhenaleaguewasfoundedandhowlongithashadtobuildculturalvisibility,whichinturn

influenceshowfansperceivetheseleagues.

Thisgenerationaldivideisfurtherreflected

bysurveyingAmericansportsfansonhowtheyrate71differentleaguesacross13emotionalandfunctionalperceptions.OlderleaguessuchastheMLBandPGATourstillscorewellonreputation,with34%and22%ofrespondentsconsidering

theseleaguestohaveastrongreputation.

Asimilarpatternappearsinperceivedheritageand

prestigewhere31%offansassociatetheMLBwith

heritageand16%forthePGATour.Incontrast,only

11%associatetheMLSandNWSLwithstrongheritage,andjust15%considerthemtohavestrongreputations.Thismattersbecauseperceivedheritageplaysakey

roleinshapingoverallreputation,whichdirectlyimpactsaleague’sabilitytoattractsponsorshipanddeliver

returnoninvestment,eveniffanengagementislimited.

AmericanLeaguefollowingbyage(Figure2)©BrandFinancePlc2025

87%

•NFL•MLB•NWSL

46%

14%

72%

48%

16%

76%

50%

81%

56%

20%

15%

79%

57%

10%

83%

60%

8%

18-2425-3435-4445-5455-6465+

BrandFinanceNBA2025/nba19

Insights|BridgingthegapbetweenperceptionandengagementinAmericansportsleagues

Thereisageneralcorrelationbetweenleagueage,

perceivedheritage,andreputation,butwithimportantexceptions.TheWNBA,despitebeingonly30years

old,outperformsmanynewerleaguesinreputation,

atestamenttothe‘CaitlinClarkEffect’-namedafterCaitlinClark,therecord-breakingguardwhostarredattheUniversityofIowabeforeturningprofessionalandsparkedunprecedentedgrowthinwomen’sbasketball.Theleaguerecentlyhita27yearhigh,averaging

969,0001,whiledigitalengagementsurgedwitha

322%increaseinonlinetraffic2andtotalrevenueis

estimatedtohavedoubledoverthepast6yearsto

reachUSD200million3.Itsrelativelyhighperception

levelssuggestgrowinginterestinwomen’ssportsandashiftingculturalnarrativearoundwhoisrecognizedasamainstreamleague.Thisprovesthatwhileleaguelongevitycanbuildcredibility,itisnotthesolefactor.

TheUSOpen,despitebeingoneoftheoldest

competitions(foundedin1881),scoresamongthe

lowestonbothheritageandreputation,showingthat

longevityalonedoesnotguaranteeprestigeintheeyesoftheAmericanpublic.Incontrast,theOlympicsscoreshighonbothheritageandreputation,despitenotbeingatraditionalleagueorhavingconsistentdomestic

presence.Whileheritagecaninfluencereputation,itisinsufficientbyitself.Tosustainperceivedprestige,leaguesmustalsoremainculturallyrelevant,high-

profile,andemotionallyresonantwiththepublic.

Perceptionalonedoesnotdriverevenue,

engagementdoes.Whenitcomestoactualfan

behavior,thenumberstelladifferentstory.Forexample,only24%ofMLBfanshaveattendedalivegame,20%havepurchasedteammerchandise,andjust18%haveboughtfromleague-affiliatedbrands,comparedto

significantlyhigherfiguresfortheNFLwhichleadswith45%,43%and42%,respectively.

ThePGATourfaresevenworse,withonly11%

attending,andjust6%engagingthroughmerchandiseorsponsorship,figuresthatreflectthetour’spoor

2024viewershipwhichdropped19%duetopersistentweatherdelaysandviewerfatigueovertheunresolvedLIVGolfcontroversy.However,therecent22%reboundin2025viewershipmayhelpsetthestageforadelayedrecoveryingolffanengagement4.Meanwhile,leaguesgainingtractionwithyoungerfanssuchastheMLS

andNWSLoftenshowhigherengagementinthese

areasdespitescoringlowerontheperceivedreputation

metric.Youngerfansaremorelikelytoattendgames,buymerch,andsupportsponsorbrands,pointing

toamoreactive,commerciallyvaluablefanbase.

Thisdisconnectbetweenperceptionandengagementisamissedopportunityformanyleagues.Thosewithstrongreput