Golden State Warriors maintain their position as the NBA’s most valuable brand
With a brand value of USD1.5 billion, the Golden State Warriors retain their title as the world’s most valuable NBA brand for the third consecutive year, outpacing second-ranked Los Angeles Lakers, whose brand value stands at USD1.1 billion. The Lakers are closing in - the gap between the top two brands has narrowed, from USD620 million in 2023 to approximately USD500 million in 2024. The Lakers’ 27% brand value increase can be partly attributed to improved game revenues, driven by increased attendance and higher stadium prices.
Since winning the NBA Championship in 2021-22, the Warriors didn’t make the playoffs in 2023-24 and were knocked out by the Lakers in the Western Conference finals in the 2022-23 season. While the team’s record has suffered, their brand value has not - the Warriors’ brand value has actually gone up 4% from 2023. Like their rivals the Lakers, the Warriors are increasing their brand value through strong revenue, notably via effective commercialization of their brand – the 2023-24 season’s most-purchased jersey is Stephen Curry’s.
The 'celebrity effect' extends beyond the players themselves, as A-list celebrities—from movie stars to musicians—occupy courtside seats, becoming part of the NBA spectacle. The league has mastered the interplay of sports and entertainment, with these celebrity appearances marketing NBA games as cultural events. This phenomenon translates into tangible value; by associating with high-profile individuals, teams like the Lakers and Warriors blend basketball with popular culture, enhancing their brand appeal and perceived exclusivity.
Hugo Hensley, Head of Sports Services, Brand Finance:
“Los Angeles is known for the glitz and glamour of Hollywood, and the celebrity spotlight extends to the Lakers, a team with an intensely loyal fanbase, historical success, and legendary players. Brand Finance’s data highlights the Lakers’ global influence, with exceptional scores for attributes such as ‘having star players’ and ‘being the home of fans’ favorite athletes.’ This amplifies the Lakers’ status as one of the most recognizable brands in the NBA but also in the world.”
The Boston Celtics remain the NBA’s third most valuable brand following a 2023-2024 Championship win and a 50% increase in brand value to USD881 million.
In this year’s NBA ranking, most NBA brands have significantly boosted revenue forecasts from USD88 million to a staggering USD230 million per team per year, thanks to new media deals starting in the 2025-26 season with the Walt Disney Company, NBC Universal, and Amazon.
Of the 30 NBA brands featured in the ranking, only two recorded a decrease in brand value: the Milwaukee Bucks and the Brooklyn Nets, down 13% to USD379 million and 18% to USD307 million, respectively.
Los Angeles Lakers are the strongest brand in the NBA, with the Boston Celtics shooting into second
The Los Angeles Lakers are the NBA’s strongest brand for the second consecutive year, with a Brand Strength Index (BSI) score of 90.2 out of 100 and a prestigious AAA+ rating. According to Brand Finance data, the Lakers score 10 out of 10 in overall brand image and in particular, for having a good reputation and being a positive force in their local community. These scores reflect fans’ recognition of the team’s active community engagement via initiatives like the Lakers Youth Foundation.
More generally, the NBA is widely praised for its accessibility and positive influence on communities across the US and around the world. According to Brand Finance data, 33% of those based in the US who follow the NBA say it has a positive impact on the community, compared to other sporting leagues such as Major League Soccer (25%), the National Hockey League (24%), Major League Baseball (33%), surpassed only by perceptions of the NFL’s community impact at 36%.
The Boston Celtics have risen to become the NBA’s second strongest brand, boosting their BSI score by over six points to 88.8 out of 100, surpassing the Golden State Warriors, whose BSI now stands at 85.2 out of 100. Brand Finance data shows that the Celtics improved across several key metrics such as having a good reputation (up almost two points to 10.0) and having a significant following (up by more than three points to 9.0), fueled by their impressive performance on the court and 2023-24 Championship win. This success has also driven higher ticket prices, game attendance, and commercial sales, resulting in stronger revenues. The Celtics’ involvement with the Green Sports Alliance is reflected in the team’s 10 out of 10 score for being perceived as sustainable and positive for the environment.
According to Brand Finance research, 17% of US-based NBA followers view the league as committed to the environment. Compared to other sporting leagues such as the National Hockey League (8%), Major League Baseball (10%), NFL (15%), and Major League Soccer (17%), this is relatively high.
The NBA has made notable strides in integrating sustainability into its operations – through initiatives like NBA Green and the NBA Arean Sustainability Task Force. However, there remains an opportunity for the league – and other sporting leagues - to further promote these efforts and enhance fan perception of the NBA’s commitment to sustainability.
Denver Nuggets more than double their brand value to enter the top 12
Still riding the momentum of their first Championship win in the 2022-23 season, the Denver Nuggets have rapidly emerged as the NBA’s fastest-growing brand. Their brand value has more than doubled, up 122%, reaching USD344 million and jumping to 12th in the overall ranking. The Nuggets have also cracked the top 10 in terms of brand strength, ranking ninth, with a nearly 10-point improvement in BSI to 68.8 out of 100.
This surge in brand value is primarily driven by increased revenues from gameday and commercial sales due to higher ticket prices and a greater number of games played following on-court success. The Nuggets’ strong performance, especially for a team of their size, has been impressive. According to Brand Finance data, the Nuggets have significantly boosted their brand strength through improved scores such as having a good reputation, with a previous score of less than 2.8 now up to 6.4 out of 10, underpinned by recent on-court successes like reaching the Western Conference semi-finals and defeating the Los Angeles Lakers in the playoffs this year. The Nuggets’ strong performance has also enhanced existing fan support, with belief in the team’s ability growing, highlighted by improved perceptions of how the club plays exciting & entertaining basketball (from less than 4.9 to 9.0 out of 10). Fans are also seeing that the owners have a positive long-term goal and want to play consistent basketball, reinforced by Brand Finance data that reveals improved perceptions of the Nuggets’ management and overall brand image, including being sustainable and positive for the environment, with a score of 10.0 for this metric.
The Denver Nuggets have a prime opportunity to boost their brand and attract more fans following their matchup against the Boston Celtics at the 2024 NBA Abu Dhabi Games. According to Brand Finance data, basketball is the third most popular sport in the UAE in terms of following at 26%, with only soccer (47%) and cricket (35%) attracting more of the region’s fans. In Saudi Arabia, basketball is the second-most followed sport, capturing 23% of the population.
With a brand value increase of 83% to USD182 million, the Indiana Pacers are this year’s second fastest-growing NBA brand. The Pacers now rank 25th, up four positions from 2023. Brand Finance attributes this rise to the Pacers’ improved 2023-24 season, ending in the Eastern Conference finals. 2024 marks a pivotal year for the Pacers as CEO Rick Fuson announced his retirement after a 40-year career with the team. Brand Finance data shows high scores for brand strength metrics such as stadium utilization (9.0 out of 10) and having a great stadium (8.0 out of 10), and a strong sense that the owners really care about the club (more than 8.3 out of 10). Looking ahead, Fuson’s successors’ ability to maintain this image will be key for the Pacers’ brand strength.
More than 75% of NBA social media followers hail from outside the US
According to the NBA, across the 2023-24 season, more than 75% of its social media followers are based outside of the US. This aligns with Brand Finance data indicating an average 39% increase in social media perception scores for NBA brands. Notably, the Detroit Pistons, with a brand value of USD165 million, recorded the largest year-on-year increase in their social media score at 70%.
Laurence Newell, Managing Director, Brand Finance Americas:
“The NBA’s global reach rivals that of most sports, with the exception of soccer, thanks to basketball’s simplicity – anyone can pick up a ball and play. This is evident in Brand Finance’s research, which reveals the NBA is the most-watched sports league in the US, with 61% of sports fans tuning in to the league. Football does boast a higher brand value in the US – with Brand Finance valuing NFL brands at a combined USD29.5 billion compared to the NBA’s USD11.5 billion – but basketball has the edge when it comes to international appeal.”
Closer to home, following the deregulation of sports betting in the US in 2018, the industry has skyrocketed, now legal in 38 US states. Major US sports betting brands like DraftKings and FanDuel have become official NBA corporate partners, and it is possible that sports betting has played a key role in driving fan engagement. According to Brand Finance data, 35% of 18-24-year-old (Figure 1) Americans who follow the NBA also engage with sports betting – a higher rate than any other age group. This trend reflects the tech-savvy nature of younger sports fans, who use the internet to both stay informed about their sport of choice and easily place bets on their favorite teams.
With growing data showing that the younger generation is the most likely to engage in sports betting, our research found that despite their lower income, only 30% of 18- to 24-year-old NBA followers have purchased merchandise in the past year. As fans age, they are less inclined to take personal financial risks, as their focus shifts towards responsibilities like family and health security. Interestingly, US sports fans, second only to Brazilian fans, are among the most supportive of sponsorships from betting and gambling brands (Figure 2). This aligns with the deregulation of sports betting in 2018, the official sponsorship deals between major betting brands and the NBA, and the integration of betting features within the NBA League Pass app. This has increasingly blurred the lines between fan engagement and commercial interests, opening up new avenues for both monetization and enhanced audience interaction.