(Photo credit: Cary Edmondson-Imagn Images)

The Golden State Warriors are the most valuable NBA team and No. 2 among sports franchises globally, according to research from Sportico released Thursday.

The Warriors are worth $11.33 billion, surpassed only by the NFL's Dallas Cowboys ($12.8 billion). This is the fifth consecutive year that the Warriors have held the highest valuation in Sportico's NBA rankings.

Trailing them are the Los Angeles Lakers ($10 billion), New York Knicks ($9.85 billion), Los Angeles Clippers ($6.72 billion) and Boston Celtics ($6.35 billion).

Sales of the Celtics, Lakers and Portland Trail Blazers this year helped to increase the average team value to $5.51 billion, up 20% from 2024. Just three years ago, the average value was $2.58 billion, an increase of 113%.

The team with the lowest valuation is the Memphis Grizzlies at $4 billion, per the report.

Helping to drive up Golden State's value is the team's ownership of its arena, Chase Center in San Francisco, and the 11 adjacent acres housing the mixed-use development called Thrive City.

NBA team valuations, as ranked by Sportico:

1. Golden State Warriors, $11.33 billion

2. Los Angeles Lakers, $10 billion

3. New York Knicks, $9.85 billion

4. Los Angeles Clippers, $6.72 billion

5. Boston Celtics, $6.35 billion

6. Brooklyn Nets, $6.22 billion

7. Chicago Bulls, $6.12 billion

8. Miami Heat, $6.03 billion

9. Philadelphia 76ers, $5.61 billion

10. Houston Rockets, $5.53 billion

11. Dallas Mavericks, $5.24 billion

12. Toronto Raptors, $5.22 billion

13. Phoenix Suns, $5.09 billion

14. Atlanta Hawks, $5.02 billion

15. Sacramento Kings, $5 billion

16. Cleveland Cavaliers, $4.86 billion

17. Denver Nuggets, $4.8 billion

18. Washington Wizards, $4.78 billion

19. Indiana Pacers, $4.76 billion

20. Milwaukee Bucks, $4.54 billion

21. San Antonio Spurs, $4.5 billion

22. Oklahoma City Thunder, $4.34 billion

23. Utah Jazz, $4.27 billion

24. Portland Trail Blazers, $4.25 billion

25. Minnesota Timberwolves, $4.24 billion

26. Orlando Magic, $4.21 billion

27. Detroit Pistons, $4.17 billion

28. Charlotte Hornets, $4.13 billion

29. New Orleans Pelicans, $4.02 billion

30. Memphis Grizzlies, $4 billion

--Field Level Media