Oh how the tides have turned.
Last season, the Hawks showed promise in the playoffs, but after a first round exit they became an afterthought once again. Fast forward through a summer full of controversy, and you have yourself a team up for sale.
According to Forbes, the Hawks were worth $425 million, with an operating loss of $3.6 million. They also ranked 27th in the league in overall value, and that was an improvement over the season prior. Overall the team was nationally irrelevant, and their value reflected that.
Sitting at 34-8 and atop the Eastern Conference, the 100% sale of the Atlanta Hawks looks much better to potential buyers. Not only is the team on the rise, but so is their national relevance. Five of the last six games have been sell outs, and it appears Atlanta is starting to get behind their team.
With all of that being said, the question of the Hawks’ value still remains. How much will the team sell for? If their new franchise value is any indication, the price tag may soar to the $1 billion mark.
According to Forbes’ new NBA value numbers released on Wednesday, the Hawks are now worth $825 million — $400 million more than last year. They also posted a revenue of $133 million after five straight seasons of losses. Also, the team jumped from 27th to 22nd in overall value.
Citing the new national TV deal as well as their new deal with Fox Sports locally, Forbes indicates that the Hawks jump in value goes along with the entire league’s increasing numbers.
As 100% of the team is set to be sold — and the NBA promising that they stay in Atlanta — the new owners will have to open their wallets acquire the franchise. These aren’t your same old Hawks.