Friday’s shocking deal to sell the Timberwolves represents the latest in a string of NBA team sales in recent years. The moves have come as franchise valuations skyrocket and a new class of wealthy investors enters the market.
There have now been 25 change-of-control sales since 2010; the Hornets, Bucks, Lakers, and Timberwolves were each sold twice during that period. Just since 2020, there have been 11 change-of-control sales with a combined value of $54.1 billion.
One reason for the spate may simply be that the league is in a “period of rapid transition in prices, so there is a lot of uncertainty,” according to Holy Cross sports economist Victor Matheson.
“If we were in a world where everyone just ‘knew’ that a fair price for an NBA franchise was, say, $5 billion, no one really ever feels like they were ripped off or got taken advantage of,” he tells Front Office Sports. “The large number of sales may not be due to some sort of dissatisfaction with your situation, but rather just that the high price makes it hard not to cash out.”
There are some other common factors that explain why there have been so many team sales, but experts say there’s no single force driving the market.
