{"id":371032,"date":"2026-10-12T15:04:12","date_gmt":"2026-10-12T15:04:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/371032\/"},"modified":"2026-10-12T15:04:12","modified_gmt":"2026-10-12T15:04:12","slug":"sports-unites-america-and-reaps-big-profits-brooklyn-nets-bse-now-worth-7-45-billion","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/371032\/","title":{"rendered":"Sports Unites America, and Reaps Big Profits. Brooklyn Nets\/BSE Now Worth $7.45 Billion."},"content":{"rendered":"

I\u2019ll moderate an online discussion, Will Atlantic Yards\u2019 Third Time Be the Charm or a Strikeout?<\/a> on Wednesday, Oct. 14, at 6:30 pm, sponsored by The City Club of New York<\/a>. Free registration here<\/a>. (It will also be available on YouTube afterward.)<\/p>\n

Panelists include Assemblymember Jo Anne Simon, Gib Veconi (Prospect Heights Neighborhood Development Council\/BrooklynSpeaks), John Shapiro (Pratt Institute, City Club), and Ismene Speliotis (Mutual Housing Association of New York, formerly ACORN Housing).<\/p>\n

An Oct. 3 New York Times essay<\/a> concluded that sports brings people together:<\/p>\n

Sports might be the last remaining American cultural institution that spans our political divides.<\/p>\n

Across a series of national surveys of 50,674 Americans, we found that every fan base in Major League Baseball, the National Football League and top college football programs remains politically diverse. Our team allegiances bring us into contact with people from the other side to cheer together in common cause. We high-five each other along the way. Ohio State versus Michigan? Packers versus Bears? Yankees versus Red Sox? For fans following these longtime rivals, passion for their team often dwarfs their political passion.<\/p>\n

Shared fandom may help people talk with those with different politics, but it doesn\u2019t mean they agree politically. As one Times commenter put it, \u201cIf you support the same team as I do but think Trump is the second coming, my conclusion is that you are pathetic and not worth my time.\u201d<\/p>\n

Share<\/a><\/p>\n

Still, it\u2019s notable that, as the authors write, \u201cSeventy-six percent of American adults are sports fans, and about two-thirds of them say their fandom is central to their identities.\u201d That\u2019s about half the country.<\/p>\n

Though some Times commenters suggested that concerts and arts organizations also bring people together, I agree that sports has a special pull and supplies extra fodder for discussion. As another commenter pointed out, high school sports are central to many small towns.<\/p>\n

Some more skeptical pointed to the corruption of gambling and \u201cthe ugly stain of CTE.\u201d <\/p>\n

Are professional sports teams parts of civic identity? For many, yes. <\/p>\n

Are they public trusts? Not all. <\/p>\n

Except for the publicly owned,\u00a0nonprofit Green Bay Packers<\/a>, they\u2019re private companies (even if a few are publicly traded), yet they rely significantly on government support. So we should think carefully about what subsidy skeptic Bettina Damiani called<\/a> privately owned \u201csports entertainment corporations.\u201d<\/p>\n

The New York Knicks, who play in the unconscionably tax-exempt Madison Square Garden<\/a>, are worth $12.8 billion, according to Sportico, which now suggests the average NBA team is worth $6.64 billion.<\/p>\n

\"X<\/p>\n

Sportico@Sportico<\/p>\n

The average NBA team is worth $6.64 billion, according to data compiled by\u00a0Sportico. The Golden State Warriors rank first at $14.5 billion, while the Memphis Grizzlies rank last at $4.2 billion<\/p>\n

Full list: sportico.com\/feature\/nba-te\u2026<\/a> <\/p>\n

1:14 PM \u00b7 Oct 9, 2026 \u00b7 73.7K Views<\/p>\n

12 Replies \u00b7 54 Reposts \u00b7 212 Likes<\/p>\n

<\/a><\/p>\n

Sportico estimates the Brooklyn Nets and associated businesses are worth $7.45 billion, up nearly 20% from $6.22 billion<\/a> in 2025. The value was $5.7 billion in 2024.<\/p>\n

\"\"<\/a><\/p>\n

That\u2019s mainly due to rising NBA team values, driven by competition from investors (for rare commodities), growing media rights deals, and salary caps. The increase in the New York Liberty\u2019s value, most recently estimated at $600 million (see below), surely helps. <\/p>\n

As NetsDaily pointed out, that\u2019s more than double what Joe and Clara Wu Tsai paid in 2019, a sum Joe Tsai said was about $3.25 billion.<\/p>\n

\"X<\/p>\n

Norman Oder@AYReport<\/p>\n

Big winners from Atlantic Yards have been Brooklyn Nets\/ArenaCo owners Mikhail Prokhorov & now Joe & Clara Wu Tsai. <\/p>\n

Why can’t they share their state-enabled wealth?<\/p>\n

Tsais want NY State to make the Barclays Center plaza permanent.<\/p>\n

NYS has leverage it’s unwilling to use.<\/p>\n

\"X<\/p>\n

NetsDaily @NetsDaily<\/p>\n

New valuation post-Lakers sale, etc. has Nets at #8 at $7.45B. Thats more than double what Tsais paid for it in 2019.<\/p>\n

2:09 AM \u00b7 Oct 10, 2026 \u00b7 610 Views<\/p>\n

1 Repost<\/p>\n

<\/a><\/p>\n

That reinforces the question I raised in May.<\/p>\n

As I\u2019ve written<\/a>, New York state officials, poised to make the valuable plaza permanent, have leverage to get Brooklyn Sports & Entertainment to pay for the privilege. They just don\u2019t have the will.<\/p>\n","protected":false},"excerpt":{"rendered":"I\u2019ll moderate an online discussion, Will Atlantic Yards\u2019 Third Time Be the Charm or a Strikeout? on Wednesday,…\n","protected":false},"author":2,"featured_media":371033,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[98,100,99,9,24,63],"class_list":["post-371032","post","type-post","status-publish","format-standard","has-post-thumbnail","category-brooklyn","tag-brooklyn","tag-brooklyn-headlines","tag-brooklyn-news","tag-new-york","tag-new-york-city","tag-nyc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/371032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=371032"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/371032\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/371033"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=371032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=371032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=371032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}