Forbes released its annual list of NBA team valuations on Tuesday, and it paints a promising picture about the future of the NBA.

While ratings have been down through the first half of the season, the NBA and its 30 teams are increasingly more valuable as the years pass and for the first time, NBA teams are worth more than $2 billion on average.

The Washington Wizards are not an exception in Forbes’ valuations, and they even held their own as far as the largest increases from 2019. Washington’s 16th-ranked valuation of $1.75 billion is right in the middle of the pack, and only 13 teams have a larger increase over the previous year than the Wizards’ 13% increase.

Rookie Rui Hachimura is credited by Forbes for turning Washington into an “international phenomenon” after becoming the first Japanese-born first-round pick.

The New York Knicks have the best valuation for the fifth straight year, coming in at $4.6 billion, with the Los Angeles Lakers ($4.4B) and Golden State Warriors ($4.3B) rounding out the $4 billion club. The Memphis Grizzlies have the lowest-ranked valuation at $1.3 billion. The average valuation of the NBA’s 30 teams is just over $2.12 billion, a 14% increase over the previous year and up sixfold over the past decade.

Forbes expects the $8.8 billion in revenue generated by teams in the 2018-19 season to increase again this season thanks to an expected rise in gate receipts, a new arena for the Warriors, and renovations to arenas for the Wizards, Celtics, Cavaliers and 76ers, among other factors.

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