LeBron James Raises Value of Miami Heat 17%

Meanwhile, the value of the Cavaliers plunges
By John Johnson,  Newser Staff
Posted Jan 27, 2011 1:57 PM CST
Miami Heat's LeBron James argues a call.   (AP Photo/Lynne Sladky)

(Newser) Forbes is out with its annual ranking of NBA teams, with this year's headline-grabbing stat coming courtesy of LeBron James. His blockbuster trade to the Miami Heat raised the value of the team by 17% to $425 million, good for seventh in the league. The value of his old team, the Cleveland Cavaliers, dropped 26% to $355 million (15th). "No player in the 64-year history of the National Basketball Association has come close to having the immediate and profound impact" of James, writes Mike Ozanian.

The top 5 teams:

  1. New York Knicks, $655 million
  2. Los Angeles Lakers, $643 million
  3. Chicago Bulls, $511 million
  4. Boston Celtics, $452 million
  5. Houston Rockets, $443 million
Click for the full list.

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