Lively Tales About Dead Teams

Franchise Sale Prices: Basketball

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The following are sale prices of professional basketball teams (excluding the NBA), either published in the media or provided by sources with direct knowledge of the transactions.  If you would like to know our source for a particular transaction, contact us and we’ll be happy to share, unless the information was provided on background by an industry source.

As with all business numbers in sports, understand that these figures are occasionally misrepresented by owners or obscured by faulty memories.  Prices may represent the price of a controlling interest in a team, but not 100% of the shares.  In a few cases, we have used the less than (<), greater than (>) and estimated (~) symbols to indicate partial information gleaned about a sale.

 

American Basketball Association (1967-1976)

Sale of existing franchises:

  • 1973 – Kentucky Colonels – $2.0 million (William DeWitt & Brian Heekin to John Y. & Ellie Brown) – 57% interest

Women’s National Basketball Association (1997-Present)

Expansion fees:

  • 1999 – Miami Sol – $500,000 (The Heat Group)
  • 2005 – Chicago Sky – $10.0 million (Michael Alter)
  • 2007 – Atlanta Dream – $10.0 million (Ron Terwilliger)

Sales of existing franchises:

  • 2006 – Los Angeles Sparks – $10.0 million (Dr. Jerry Buss to Carla Christofferson & Kathy Goodman et al.)
  • 2008 – Seattle Storm – $10.0 million (Clay Bennett to Anne Levinson et al.)

 

Women’s Professional Basketball League (1978-1981)

Original franchises:

  • 1978 – Chicago Hustle – $50,000
  • 1978 – Iowa Cornets - $50,000 (George Nissen)

 

Continental Basketball Association (1978-2001)

Expansion fees:

  • 1982 – Detroit Spirits – $100,000 (Agustin Arbulu et al.)
  • 1983 – Sarasota (FL) Stingers – $180,000 (Jeffrey Fischer & Michael Cohn)
  • 1984 – Evansville (IN) Thunder – $300,000 (David Ellenstein)
  • 1985 – Kansas City Sizzlers – $500,000 (Bernard Glannon)
  • 1989 – Oklahoma City Cavalry – $600,000 (Chip Land et al.)
  • 2000 – Gary (IN) Steelheads – $750,000 (Jewell Harris et al.)

Sale of existing franchises:

  • 1988 – Albany Patroons – $334,000 (James Coyne et al. to Ben Fernandez)
  • 1990 – Topeka (KS) Sizzlers – $550,000 (James W. Garrett to Bob Wilson)
  • 1995 – Capital Region (NY) Pontiacs – $700,000 (Joseph O’Hara to Hartford Sports & Entertainment Group

 

Eastern Basketball Association (1946-1978)

Expansion fees:

  • 1977 – Anchorage Northern Knights – $8,000  (Mike Shupe, et al.)

 

Western Basketball Association (1978-79)

Original franchises:

  • Washington Lumberjacks – $20,000 (Columbia Pacific Resources/Michael McDermott)

 

World Basketball League (1988-1992)

Original franchises:

  • 1987 – Calgary 88’s – $25,000 (Jon Havelock)
  • 1987 – Chicago Express – $25,000 (Barry Fox, et al.)
  • 1987 – Fresno Flames – $25,000 (?)
  • 1987 – Las Vegas Silver Streaks – $25,000 (?)
  • 1987 – Vancouver Nighthawks – $25,000 (Don Burns)
  • 1987 – Youngstown Pride – $25,000 (Mickey Monus)

Expansion franchises:

  • 1990 – Memphis Rockers – $200,000 (Pat Carter, Harold Shaw, George Jones, et al.) – 20% interest

Sale of existing franchises:

  • 1990 – Las Vegas Silver Streaks – $200,000  (World Basketball League to Rick Kulis) – 40% interest

Written by andycrossley

May 19th, 2011 at 5:02 pm

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