How the Golden State Warriors became the most valuable franchise in the NBA

Since the early 2000s, Forbes has published an annual list of the most valuable franchises in the NBA. Since that time, the Los Angeles Lakers and New York Knicks have dominated the top spot. Until today.

In the latest Forbes ranking published in 2022, a third team has muscled its way into the top spot and taken first place: the Golden State Warriors.

The San Francisco Bay team has been valued by Forbes at 7 billion dollars against the Knicks' $6.1 billion valuation and the Lakers 45.9 billion.

The question is, how have the Warriors become the most valuable franchise in the NBA? The answer seems quite obvious: Stephen Curry.

The great star of the Golden State Warriors is arguably within the top 10 of best players in history and this star power has made his team one of the best in history.

Four Championship rings (earned in 2015, 2017, 2018, and 2022) and a record of victories in the regular season have elevated Curry's team into one of the great basketball dynasties of the decade.

Led by coach Steve Kerr and accompanied by his talented teammates, Klay Thompson and Draymond Green, Stephen Curry has not only made history, he's changed the way the game is played thanks to his signature long-distance triples.

Obviously, having a star like Stephen Curry in your ranks can make a team money. A lot of money. Just think of how many Warriors jerseys with 30 on their backs can be seen on a daily basis anywhere in the world.

In fact, Forbes has reported that the Golden State Warriors 2021-2022 season has generated $765 million in revenue, the highest ever reported in NBA history.

This tremendous increase in revenue has coincided with the first full season the Warriors have played at the Chase Center, which opened in September 2019, just six months before the start of the Covid-19 pandemic.

The Chase Center has generated $150 million in sponsorship and advertising for the franchise, twice as much as any other in the NBA. Another $250 million in revenue for VIP seats, can be added to the final total, making the Golden State Warriors the most profitable franchise in the NBA.

This revenue boost has allowed the franchise Joe Lacob's franchise to increase in value 15-fold in just twelve year. What was bought for $450 million is now worth an estimated $7 billion. A valuation that doesn't account for the possible sponsorship revenue that will be generated from the 2022 playoff run.

For context, the average value of an NBA franchise this season is $2.86 billion, less than half of what the current Warriors are worth.

In the 2025/2026 season, a new agreement with the NBA's national broadcaster will begin and this is expected to double the current revenue earnings, which are estimated to be roughly 2.66 billion dollars.

This new deal will mean more revenue for all teams, including the record-setting Golden State Warriors.

What seems clear is that the success of the Golden State Warrior comes down to one major factor, the star power of Stephan Curry. Without Curry winning games, the team could rack in the same levels of revenue. We will have to see what tribute the Golden State Warriors fans pay to a player that is arguably the best player in the franchise's history, excluding Wilt Chamberlain of course.