Soon To Be NBA Commissioner Says No Teams Up For Sale
Several teams, including the Minnesota Timberwolves, have been pulled off the market recently. The Milwaukee Bucks and Toronto Raptors had also been rumored to be available.
“As we look at the coming domestic television deal and a great playoffs and Finals, there’s a great buzz around the league right now,” Silver said at the Bloomberg Sports Business Summit. “There aren’t any teams for sale but if there were [the price] would be robust.”
This is a significant departure from the last three-plus years, when teams were selling both cheaply and quickly as nine franchises sold, many at reduced values. It may have reached its nadir in 2011 when Michael Jordan purchased a controlling interest in the Charlotte Bobcats for less than $200 million and the big market Philadelphia 76ers changed hands for a reported $280 million.
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