Here’s something for you to think about the next time you’re told that the Bulls don’t want to go into luxury tax territory. Forbes released its 2014 valuations of every NBA franchise, and it turns out there are three NBA teams currently worth $1 billion — with a B — or more.
And the Bulls are one of them.
In fact, Forbes values the Bulls at $1 billion exactly, behind only the Knicks ($1.4 billion) and Lakers ($1.35 billion). So next time you want to get mad at Jerry Reinsdorf and call him cheap, just know that he won’t care. He’s not in the business of owning sports teams to make you happy, he’s in the business of owning sports teams to
try to win another World Series with the White Sox because he loves them more than anything make money. And that’s something he’s really fucking good at.
The White Sox aren’t worth nearly as much as the Bulls, but in Forbes 2013 valuations of MLB franchises, the Sox were ranked 11th with an estimated value of $692 million. Which means that Reinsdorf owns two teams worth a total of $1.692 billion.
That’s a lotta dough.
It’s also one hell of a profit should Reinsdorf actually decide to sell his two teams. He bought the White Sox in 1981 for $19 million, and followed that up with the Bulls for $16 million in 1985. That’s two franchises for a grand total of $35 million.
That’s a profit of $1.657 billion. Or roughly enough to buy the Sox and Bulls 47 more times in the 1980s.
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