Bulls' franchise value increases to $511 million
December 9, 2009 5:05 PM
By K.C. Johnson


Here's more ammunition for Bulls fans upset that the team only has 13 players on the roster: Forbes Magazine released its annual NBA team valuations today and the Bulls rank third behind the Los Angeles Lakers and New York Knicks.

At a time when Forbes said team values declined for the first time since it began tracking finances 11 years ago, the Bulls' value increased 2 percent to $511 million. The Lakers were valued at $607 million and the Knicks placed at $586 million.


Forbes said the average team value dropped 4 percent to $367 million.

Bulls fans have been critical of Chairman Jerry Reinsdorf for claiming he won't pay the league's punitive luxury tax for a non-title team and also for carrying just 13 players this season.

Bulls officials say the latter is as much a basketball as business decision. The Bulls, who are roughly $1 million under the luxury-tax threshold, are keeping financial and roster flexibility available in case a trade presents itself in which the Bulls would be able to take back more players and salary than they send out.

Alternatively, the Bulls expect to have ample salary-cap space next summer to pursue what most league observers call the best free-agent class in history.

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