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Forbes: Charlotte Bobcats' value rose 30% in a year

By Rick Bonnell
rbonnell@charlotteobserver.com

he Charlotte Bobcats are worth 30 percent more than they were a year ago, if you buy into Forbes magazine’s annual estimate of NBA team values.

Forbes estimates the Bobcats are worth $410 million in 2014. That’s a 30 percent value increase from 2013, the magazine estimates. Forbes also believes the Bobcats made about a $7 million profit in 2013.

Of course all of this is an educated guess. The Bobcats don’t have to open their books to anyone, including the city of Charlotte, which built Time Warner Cable Arena and allows the team to manage the facility at their own profit or loss.

If the Bobcats are now in the black, that probably has a lot to do with the new collective bargaining agreement, which includes a more aggressive revenue-sharing system between big-market and small-market teams. It can’t be a coincidence Forbes raised the value of No. 29 Charlotte and the No. 30 Milwaukee Bucks by 30 percent each.

If someone would pay majority owner Michael Jordan $410 million for this franchise, that would likely be a tidy profit for Jordan. He took over control of the team in February of 2010 from original owner Bob Johnson primarily by agreeing to assume Johnson’s debt service.

The Bobcats have improved their season-ticket base in recent seasons and are getting a marketing bump out of the nickname and uniform change to “Hornets” next season.

Link to Forbes' rankings: http://www.forbes.com/nba-valuations/#page:3_sort:0_direction:asc_search

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