The Chicago Bulls may be struggling on the court, but the team continues to flourish financially as the team’s valuation shot up again this year.
According to the valuation, calculated by Forbes Magazine, the Bulls are now worth $2.9 billion, making them the NBA’s fourth-most valuable franchise for the second consecutive year. That number is a 10 percent increase over last season’s valuation of roughly $2.6 billion.
Their new valuation now matches that of the Chicago Bears and Chicago Cubs, but the magazine has not updated those teams' values this year.
The Bulls continue to lead the NBA in attendance, having done so for the last nine seasons, according to the publication. Their attendance is going down however, putting that streak in jeopardy in the coming year.
Even still, the Bulls are keeping pace well with the rest of the NBA, trailing only the New York Knicks, Los Angeles Lakers, and Golden State Warriors on the list of most valuable teams.
The Boston Celtics, valued at $2.8 billion, the Brooklyn Nets ($2.3 billion) and Houston Rockets ($2.2 billion) follow closely behind Chicago.