CNBC Top NewsCodex · 实盘不做把握 5/10
北京时间·🕒 发布 01:24:24(美东 08-20 13:24)·⟳ 抓取 01:29:46 +5m22s·⚡ 决策 08-21 01:31:08 +1m22s·68.0 天前
湖人拟以125亿美元易手推动CNBC上调NBA球队估值，纽约尼克斯估值升至127亿美元
CNBC对尼克斯127亿美元估值高于此前JPMorgan在湖人交易后给出的117.5亿美元，方向上继续支持Madison Square Garden Sports（MSGS.US）的资产重估叙事。
📄 原文CNBC Top News↗ 原文
Here's how the Los Angeles Lakers' $12.5B sale impacts the value of all 30 NBA teams
The record-breaking sale of the Los Angeles Lakers is being felt far beyond Hollywood. The pending $12.5 billion sale b…
不做 Madison Square Garden Sports（MSGS.US）
CNBC估值上调方向利好但属于湖人交易后多日二次确认，JPMorgan和媒体已提前交易MSGS的尼克斯重估逻辑；且未取得可用实时行情，不能给ENTER入场价。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
消息传播链
- 洛杉矶时报在8月12日报道Bob Iger和Joshua Kushner将以125亿美元购买湖人，这是本次估值锚的早期主流报道。
- CBS洛杉矶同日确认湖人将以125亿美元售出，说明交易事实已在本条CNBC估值文章前广泛传播。
- Yahoo Finance报道JPMorgan已因湖人交易把尼克斯估值重设为117.5亿美元，表明MSGS资产重估逻辑已被卖方和市场讨论。
- CNBC用其球队交易数据库将尼克斯实时估值上调至127亿美元，是对既有湖人交易锚的二次估值更新。
关键理由
- CNBC对尼克斯127亿美元估值高于此前JPMorgan在湖人交易后给出的117.5亿美元，方向上继续支持Madison Square Garden Sports（MSGS.US）的资产重估叙事。
- 但湖人125亿美元交易本身已在约6天前被主流媒体广泛报道，JPMorgan也已据此重估尼克斯，本条CNBC数据库更新更像二次估值确认而非全新催化。
- Madison Square Garden Sports（MSGS.US）近期已因尼克斯表现、球队分拆和湖人交易比较出现明显上涨，事件新增预期差不足以支持盘中追多。
主要风险
- 湖人交易仍待批准且存在Buss家族争议，若交易受阻会削弱这次估值锚。
- 未能通过可用行情工具取得17:29 UTC实时价和完整20日轨迹，因此不满足ENTER所需真实入场价约束。
反向证据
- 做多前查反向 · 来源 web · 日期 2026-08-15 · 影响 weakens
WSJ报道称MSGS已申请将Rangers从Knicks拆分，分拆有助于资产定价但也意味着当前市场已有明确NAV释放催化，不是CNBC文章独有新增信息。
检索:Madison Square Garden Sports recent negative Lakers deal Knicks valuation risks spinoff approval 原文 ↗ - 做多前查反向 · 来源 web · 日期 2026-08-20 · 影响 weakens
多家媒体报道湖人交易存在Buss家族争议及Mark Walter相关调查背景，交易完成不确定性削弱把湖人价格作为完全确定估值锚的力度。
检索:Lakers sale Jeanie Buss dispute Mark Walter investigation August 2026 原文 ↗ - 做多前查反向 · 来源 web · 日期 2026-08-14 · 影响 weakens
MSGS在本条CNBC前已出现明显上涨，WSJ称其一周涨超6%、同比接近翻倍，显示资产重估逻辑已有较高拥挤度。
检索:MSGS stock August 2026 performance Knicks valuation 原文 ↗
先例如何影响了这次决策
对本次决策的影响:由于先例不足且当前催化已在市场传播多日，最终不追多Madison Square Garden Sports（MSGS.US）。
方向:缺少足够干净的同市场同机制先例来量化MSGS对体育队估值重估报道的短线反应。
涨幅量级:未能取得可交给event_study的6-12条高质量首发事件和真实日线样本，因此不能用先例给tp/sl或追多幅度背书。
形态:本次更接近已传播交易后的估值确认，存在见光死和已price-in风险。
原文全文
展开原文 · 4,528 字
The record-breaking sale of the Los Angeles Lakers is being felt far beyond Hollywood.
The pending $12.5 billion sale by Mark Walter to Joshua Kushner and Bob Iger will have a big impact on all NBA team valuations.
If the sale is approved, the average value of an NBA team would increase 21% to $6.68 billion, according to CNBC's proprietary team transaction database.
In October, Walter purchased a control stake in the Lakers at a valuation of $10 billion. The $12.5 billion deal would be an estimated 20 times the team's 2025-26 season revenue — an all-time high multiple for a control stake in an NBA team.
CNBC has adjusted the NBA valuations published in February for all 30 teams based on the $12.5 billion deal for the Lakers.
The Golden State Warriors would remain the most valuable team, but their value would increase to $13 billion from $10.8 billion in February. The two teams that have increased the most in value from February are the reigning NBA champion New York Knicks and the Chicago Bulls, with each rising 26%.
Aside from historical sale prices and their corresponding revenue multiples, among the factors CNBC considers in our valuations are arena economics, market size and investor interest.
Here's how much each of the NBA's 30 teams are now worth. Revenue and EBITDA are for 2024-2025 season as originally published in February.
CNBC’s Real-Time NBA Valuations
| Rank | Team | Real-time value | Change in value since 2/13/2026 | Value | One-year value change (%) | Revenue | EBITDA | Debt as % of Value | Owner(s) |
| 1 | Golden State Warriors | $13B | 20% | $10.8B | 15% | $840M | $362M | 7% | Joe Lacob, Peter Guber |
| 2 | New York Knicks | $12.7B | 26% | $10.1B | 35% | $619M | $91M | 3% | Madison Square Garden Sports |
| 3 | Los Angeles Lakers | $12.5B | 25% | $10B | 43% | $565M | $158M | 4% | Mark Walter |
| 4 | Los Angeles Clippers | $8.3B | 20% | $6.9B | 28% | $492M | $146M | 3% | Steve Ballmer |
| 5 | Chicago Bulls | $8.1B | 26% | $6.45B | 11% | $413M | $121M | 3% | Jerry Reinsdorf |
| 6 | Houston Rockets | $7.65B | 20% | $6.35B | 11% | $437M | $126M | 3% | Tilman Fertitta |
| 7 | Boston Celtics | $7.5B | 19% | $6.3B | 15% | $439M | $-15M | 3% | William Chisholm |
| 8 | Philadelphia 76ers | $7.35B | 20% | $6.1B | 24% | $425M | $125M | 3% | Josh Harris, David Blitzer |
| 9 | Miami Heat | $7.3B | 21% | $6.05B | 19% | $420M | $96M | 7% | Micky Arison |
| 10 | Brooklyn Nets | $7.1B | 18% | $6B | 7% | $409M | $80M | 13% | Joe Tsai |
| 11 | Dallas Mavericks | $6.7B | 22% | $5.5B | 10% | $356M | $-26M | 4% | Miriam Adelson and Patrick and Sivan Dumont, Mark Cuban |
| 12 | Atlanta Hawks | $6.35B | 18% | $5.4B | 26% | $448M | $103M | 4% | Tony Ressler, Jami Gertz |
| 13 | Toronto Raptors | $6.4B | 20% | $5.35B | 19% | $383M | $103M | 4% | Rogers Communications, Larry Tanenbaum |
| 14 | Phoenix Suns | $6.3B | 19% | $5.3B | 15% | $399M | $-81M | 6% | Mat Ishbia, Justin Ishbia |
| 15 | Sacramento Kings | $6.2B | 18% | $5.25B | 18% | $450M | $90M | 13% | Vivek Ranadivé |
| 16 | Cleveland Cavaliers | $6.1B | 18% | $5.15B | 18% | $438M | $121M | 4% | Dan Gilbert |
| 17 | Washington Wizards | $5.75B | 19% | $4.85B | 14% | $373M | $118M | 4% | Ted Leonsis |
| 18 | Denver Nuggets | $5.6B | 19% | $4.7B | 12% | $398M | $74M | 3% | Stan Kroenke |
| 19 | Milwaukee Bucks | $5.4B | 20% | $4.5B | 10% | $358M | $0M | 7% | Wes Edens and Jamie Dinan, Jimmy and Dee Haslam |
| 20 | Utah Jazz | $5.25B | 21% | $4.35B | 16% | $385M | $116M | 7% | Ryan Smith, Ashley Smith |
| 21 | San Antonio Spurs | $5.2B | 21% | $4.3B | 16% | $353M | $103M | 5% | Holt family, Sixth Street Partners |
| 22 | Oklahoma City Thunder | $5.15B | 21% | $4.25B | 21% | $371M | $97M | 5% | Clayton Bennett, George Kaiser |
| 23 | Indiana Pacers | $5.1B | 21% | $4.2B | 24% | $394M | $113M | 5% | Herb Simon and Stephen Simon, Steven Rales |
| 24 | Portland Trail Blazers | $5B | 22% | $4.1B | 12% | $315M | $15M | 4% | Paul G. Allen Trust |
| 25 | Orlando Magic | $5.05B | 25% | $4.05B | 14% | $334M | $97M | 5% | DeVos family |
| 26 | Detroit Pistons | $4.9B | 23% | $4B | 16% | $331M | $114M | 5% | Tom Gores |
| 27 | Charlotte Hornets | $4.75B | 22% | $3.9B | 16% | $326M | $61M | 8% | Rich Schnall, Gabe Plotkin |
| 28 | New Orleans Pelicans | $4.6B | 19% | $3.85B | 17% | $328M | $83M | 6% | Gayle Benson |
| 29 | Minnesota Timberwolves | $4.65B | 22% | $3.8B | 17% | $339M | $-56M | 6% | Marc Lore, Alex Rodriguez |
| 30 | Memphis Grizzlies | $4.55B | 21% | $3.75B | 17% | $330M | $77M | 9% | Robert Pera |
The pending $12.5 billion sale by Mark Walter to Joshua Kushner and Bob Iger will have a big impact on all NBA team valuations.
If the sale is approved, the average value of an NBA team would increase 21% to $6.68 billion, according to CNBC's proprietary team transaction database.
In October, Walter purchased a control stake in the Lakers at a valuation of $10 billion. The $12.5 billion deal would be an estimated 20 times the team's 2025-26 season revenue — an all-time high multiple for a control stake in an NBA team.
CNBC has adjusted the NBA valuations published in February for all 30 teams based on the $12.5 billion deal for the Lakers.
The Golden State Warriors would remain the most valuable team, but their value would increase to $13 billion from $10.8 billion in February. The two teams that have increased the most in value from February are the reigning NBA champion New York Knicks and the Chicago Bulls, with each rising 26%.
Aside from historical sale prices and their corresponding revenue multiples, among the factors CNBC considers in our valuations are arena economics, market size and investor interest.
Here's how much each of the NBA's 30 teams are now worth. Revenue and EBITDA are for 2024-2025 season as originally published in February.
CNBC’s Real-Time NBA Valuations
| Rank | Team | Real-time value | Change in value since 2/13/2026 | Value | One-year value change (%) | Revenue | EBITDA | Debt as % of Value | Owner(s) |
| 1 | Golden State Warriors | $13B | 20% | $10.8B | 15% | $840M | $362M | 7% | Joe Lacob, Peter Guber |
| 2 | New York Knicks | $12.7B | 26% | $10.1B | 35% | $619M | $91M | 3% | Madison Square Garden Sports |
| 3 | Los Angeles Lakers | $12.5B | 25% | $10B | 43% | $565M | $158M | 4% | Mark Walter |
| 4 | Los Angeles Clippers | $8.3B | 20% | $6.9B | 28% | $492M | $146M | 3% | Steve Ballmer |
| 5 | Chicago Bulls | $8.1B | 26% | $6.45B | 11% | $413M | $121M | 3% | Jerry Reinsdorf |
| 6 | Houston Rockets | $7.65B | 20% | $6.35B | 11% | $437M | $126M | 3% | Tilman Fertitta |
| 7 | Boston Celtics | $7.5B | 19% | $6.3B | 15% | $439M | $-15M | 3% | William Chisholm |
| 8 | Philadelphia 76ers | $7.35B | 20% | $6.1B | 24% | $425M | $125M | 3% | Josh Harris, David Blitzer |
| 9 | Miami Heat | $7.3B | 21% | $6.05B | 19% | $420M | $96M | 7% | Micky Arison |
| 10 | Brooklyn Nets | $7.1B | 18% | $6B | 7% | $409M | $80M | 13% | Joe Tsai |
| 11 | Dallas Mavericks | $6.7B | 22% | $5.5B | 10% | $356M | $-26M | 4% | Miriam Adelson and Patrick and Sivan Dumont, Mark Cuban |
| 12 | Atlanta Hawks | $6.35B | 18% | $5.4B | 26% | $448M | $103M | 4% | Tony Ressler, Jami Gertz |
| 13 | Toronto Raptors | $6.4B | 20% | $5.35B | 19% | $383M | $103M | 4% | Rogers Communications, Larry Tanenbaum |
| 14 | Phoenix Suns | $6.3B | 19% | $5.3B | 15% | $399M | $-81M | 6% | Mat Ishbia, Justin Ishbia |
| 15 | Sacramento Kings | $6.2B | 18% | $5.25B | 18% | $450M | $90M | 13% | Vivek Ranadivé |
| 16 | Cleveland Cavaliers | $6.1B | 18% | $5.15B | 18% | $438M | $121M | 4% | Dan Gilbert |
| 17 | Washington Wizards | $5.75B | 19% | $4.85B | 14% | $373M | $118M | 4% | Ted Leonsis |
| 18 | Denver Nuggets | $5.6B | 19% | $4.7B | 12% | $398M | $74M | 3% | Stan Kroenke |
| 19 | Milwaukee Bucks | $5.4B | 20% | $4.5B | 10% | $358M | $0M | 7% | Wes Edens and Jamie Dinan, Jimmy and Dee Haslam |
| 20 | Utah Jazz | $5.25B | 21% | $4.35B | 16% | $385M | $116M | 7% | Ryan Smith, Ashley Smith |
| 21 | San Antonio Spurs | $5.2B | 21% | $4.3B | 16% | $353M | $103M | 5% | Holt family, Sixth Street Partners |
| 22 | Oklahoma City Thunder | $5.15B | 21% | $4.25B | 21% | $371M | $97M | 5% | Clayton Bennett, George Kaiser |
| 23 | Indiana Pacers | $5.1B | 21% | $4.2B | 24% | $394M | $113M | 5% | Herb Simon and Stephen Simon, Steven Rales |
| 24 | Portland Trail Blazers | $5B | 22% | $4.1B | 12% | $315M | $15M | 4% | Paul G. Allen Trust |
| 25 | Orlando Magic | $5.05B | 25% | $4.05B | 14% | $334M | $97M | 5% | DeVos family |
| 26 | Detroit Pistons | $4.9B | 23% | $4B | 16% | $331M | $114M | 5% | Tom Gores |
| 27 | Charlotte Hornets | $4.75B | 22% | $3.9B | 16% | $326M | $61M | 8% | Rich Schnall, Gabe Plotkin |
| 28 | New Orleans Pelicans | $4.6B | 19% | $3.85B | 17% | $328M | $83M | 6% | Gayle Benson |
| 29 | Minnesota Timberwolves | $4.65B | 22% | $3.8B | 17% | $339M | $-56M | 6% | Marc Lore, Alex Rodriguez |
| 30 | Memphis Grizzlies | $4.55B | 21% | $3.75B | 17% | $330M | $77M | 9% | Robert Pera |
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