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NBA 2025 The annual reporTon The mosTvaluable &sTrongesTnbabrands AboutBrand Finance Bridging the gap between Brand Finance was set up in 1996 with theaim of 'bridging the gap between marketingand finance'. For more than 25 years, we Quantifying the We put thousands of the world’s biggestbrands to the test every year. Rankingbrands across all sectors and countries, Unique combination The world'sleading brandvaluation Our teams have experienceacross a wide range of disciplinesfrom marketing and market research, Priding ourselves Brand Finance, a chartered accountancyfirm regulated by the Institute of CharteredAccountants in England and Wales, is thefirst brand valuation consultancy to join theInternational Valuation Standards Council. For business enquiries, please contact:enquiries@brandfinance.com For media enquiries, please contact:press@brandfinance.com +44 207 389 9400www.brandfinance.com Contents Sector Overview Valuation Analysis Most Valuable NBA Team Brands 2025Most Valuable Brand:Golden State WarriorsBrand to Watch:Detroit Pistons Brand Strength Analysis13 Insights16Bridging the gap between perception and17engagement in American sports leagues NBA research insights21Scott Moore, Manager, Sports Services, Brand FinanceHow NoLo alternatives are changing the game24in sports marketing Enterprise ValuationBrand Equity ResearchBrand Value Ranking (USDm)MethodologySport Services © 2025 All rights reserved. Brand Finance Plc. The Golden StateWarriors remain theNBA’s most valuable +TheGolden State Warriorsremain the NBA’smost valuable brand at $1.2 billion despite an +TheLos Angeles Lakershold second placeat $973 million, down 9% after back-to-back +TheNew York Knicksclimb into third withbrand value up 12% to $720 million, boostedby a run to the Eastern Conference Finals and +TheChicago Bullsrise three places to fourth,with brand value up 36% to $616 million, making +The Lakers, Bulls, andCelticsare the NBA’s topthree strongest brands +Total brand value of all 30 NBA teams falls 6%to $10.6 billion What is the purpose of a strong brand: to attract customers, to build loyalty,to motivate staff? All true, but for a commercial brand at least, the first answer Huge investments are made in the design, launch, and ongoing promotion ofbrands. Given their potential financial value, this makes sense. Unfortunately, mostorganizations fail to go beyond that, missing huge opportunities to effectively makeuse of what are often their most important assets. Monitoring of brand performance Laurence NewellManaging Director,Brand Finance Americas As a result, marketing teams struggle to communicate the value of their work andboards then underestimate the significance of their brands to the business. Skepticalfinance teams, unconvinced by what they perceive as marketing mumbo jumbo,may fail to agree necessary investments. What marketing spend there is, can end Brand Finance bridges the gap between marketing and finance. Our teams haveexperience across a wide range of disciplines from market research and visualidentity, to tax and accounting. We understand the importance of design, advertising, By valuing brands, we provide a mutually intelligible language for marketing andfinance teams. Marketers then have the ability to communicate the significance ofwhat they do, and boards can use the information to chart a course that maximizesprofits. Without knowing the precise, financial value of an asset, how can you know ifyou are maximizing your returns? If you are intending to license a brand, how can youknow you are getting a fair price? If you are intending to sell, how do you know what Professional sports fosters some of the most recognizable brands globally. Topteams such as the Dallas Cowboys, the Philadelphia Eagles, the Los Angeles Lakersand others boast brand strength similar to that of Coca Cola and Google which trulyputs their caliber into perspective. Many of these top franchises earn sizeable sums With such significant money on the table and the rise of new opportunities acrossthe industry, the necessity for a clear understanding of all aspects of sports financeis crucial to the success of all stakeholders in the industry. We trust you will find the SectorOverview SectorOverview The total brand value of the 30 NBA franchisesstands at USD10.6 billion in 2025, representing a6% decrease compared to 2024. This contractionreflects a moderation following several years of stronggrowth, as some of the momentum from previously (USD10.9 billion) but still significantly behindthe NFL (USD26.5 billion). European soccer’s othermajor competitions - LaLiga (USD5.8 billion) and theBundesliga (USD4.5 billion) - remain well behind. Brand value and brand strength are central tofranchise success in the NBA, driving revenuesthrough sponsorship, merchandising, and international This decline does not necessarily indicate weakerfan demand. The NBA continues to enjoy strongglobal recognition, with sign