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NBA Playoffs Edition: The Business of Basketball

NBA Playoffs Edition: The Business of Basketball
June 21, 2021

The Daily Stack is a daily private market insights newsletter by PrivCo, a private company intelligence platform. Read our previous insights.
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The 2021 NBA playoffs are heading into the Conference Finals this week as we near the end of the 2020-2021 season. This late in the season, fans are back in the bleachers, filling stadiums anywhere from 10% to 75% capacity, after a 2019-2020 season that ended with the Los Angeles Lakers taking the title from behind closed doors at the Bubble, inside ESPN's Bay Lake, Florida Sports Complex. 

While we’re not here to predict the winner of the finals – our expertise in estimating revenues doesn't extend to basketball game outcomes or player stats – we can tell you who makes the cut for Final Four in valuation.

Final Four in Valuation:

Chicago Bulls: Jerry Reinsdorf and investors bought a controlling stake in the NBA's Chicago Bulls for $9.2 million in 1985, one year after the team drafted Michael Jordan. The team is now worth $3.14BN. The six-time NBA champions were spotlighted in the Last Dance - a documentary on their illustrious dynasty run in the 90s. In 2020, the team saw a small decrease in revenue, but their valuation remains strong in 4th place.

Los Angeles Lakers: The 2020 NBA champions paid tribute in their win to their legendary former teammate, Kobe Bryant, who tragically died alongside his teenage daughter in January of last year. The team is no stranger to players who remain fixed members of the cultural lexicon, such as Shaquille O’Neal, Magic Johnson, and repeat-MVP & current player, Lebron James. The team's valuation stands at $4.6BN.

Golden State Warriors: The team recently relocated across the Bay, from Oakland to San Francisco, and into the $1BN Chase Center finished just ahead of the pandemic. No stranger to moves off the court, the team originally started in Philly before being picked up by investors in SF and landing in Oakland in 1971. Current star, Steph Curry, has led the team to records, including becoming the first team in NBA history to win 5 consecutive conference titles. The team is valued at $4.7BN.

The New York Knicks: The Madison Square Garden hosts aren't known for their wins so much as their devoted fan base and big business. They rank highest in valuation as a publicly traded company, and after a surprisingly good season coming in 4th in the Eastern Conference, the team might finally be able to attract some star talent to match its star-studded floor seats. The Knicks take the top spot for valuation, at a staggering $5.42BN.

Honorable Mentions: The Final 8 in Valuations

✂️ La Clippers: $2.75BN

🏀 Brooklyn Nets: $2.65BN

🇺🇸 Philadelphia 76ers: $2.075BN

🌞 Phoenix Suns: $1.7BN


🎷 Utah Jazz: $1.66BN

🍗 Denver Nuggets: $1.65BN

🦌 Milwaukee Bucks: $1.625BN

🦅 Atlanta Hawks: $1.52BN

This week’s IPOs

 

Bright Health Group: Healthcare management

IPO: BHG

Expected Share Price: $20-23

Shares: 60MM
 

🖥️ Confluent: Enterprise streaming platform

IPO: CFLT

Expected Share Price: $29-33

Shares: 23MM


👩‍⚕️ Doximity: Professional social network for doctors 

IPO: DOCS

Expected Share Price: $20-23

Shares: 23.3MM

📒 First Advantage: Employment & staffing 

IPO: FA

Expected Share Price: $13+15

Shares: 21.25MM

💦 Sprinklr: Social media management


IPO: CXM

Expected Share Price: $18-20

Shares: 19MM

Since last week, PrivCo has added:
586 Companies | 214 Funding Activities | 138 M&A Deals

Funding & Deal Highlights:
 

Anduril raises $450MM from Elad Gil & 8VC

Defense Software & Internet Services • Round D • Irvine, CA
 

Carro raises $ $360MM from SoftBank Vision Fund 

Automotive & Consumer Vehicle Retail • Round C • Singapore
 

New4j raises $325MM from Eurazeo

Analytics Software & Internet Services • Round F • San Mateo, CA
 

Motif FoodWorks raises $226MM from Ontario Teachers Pension Plan

Food & Beverage Producers • Round B • Boston, MA
 

RideCell raises from Woven Capital LP

Software & Internet Services • Equity • San Francisco, CA
 

Transform Data raises $20MM from Index Ventures & Redpoint Ventures

Software & Internet Services • Round A • San Francisco, CA
 

Gloat raises $57MM from Accel Partners 

Recruitment Software & Internet Services • Round C • Tel Aviv, Israel
 

Guideline raises $200MM from Felicis Ventures 

FinTech Software & Internet Services • Equity • San Mateo, CA
 

Vianai Systems raises $140MM from SoftBank Vision Fund 2

Software & Internet Services • Round B • Palo Alto, CA
 

RIND Snacks raises $6.1MM from Valor Management

Food & Beverage Producers • Round A • New York, NY


Amyris to acquire Olika 

Consumer Products • Acquisition • Greenbrae, CA
 

GHK Capital Partners acquires Its Logistics

Logistics Services • Acquisition • Sparks, Nevada

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