Bulls lands 5th in Sportico's 2023 NBA Most Valuable Teams

The Bulls have tallied a +18% one-year value change and locked 5th place in the most valuable team ranking.

© Jerome Miron-USA TODAY Sports

Despite their current troubles, there is no denying that the Chicago Bulls are still extremely valuable due to their illustrious past and commercial appeal. 

Michael Jordan's greatness has characterized the franchise's storied history. Jordan carried the Bulls to unstoppable domination in the 1990s with him at the helm. After six titles won during that decade, Chicago became the basketball capital of the globe, and the Bulls have experienced a period of financial growth.

This Day, 24 years ago: Michael Jordan hits his last shot for the Bulls, the game winner, as Chicago wins its sixth title in eight years. It is the most watched NBA game in American history pic.twitter.com/7BVfJfV6PP

— Darren Rovell (@darrenrovell) June 14, 2022

The Bulls have maintained the high value they achieved during their post-dynasty era. And this year, an official value has positioned them as one of the NBA's most valuable teams.

One of the richest teams

According to Kurt Badenhausen of Sportico, the Bulls are placed at the fifth-place of the Association’s most valuable franchises this 2023.

Holding an estimated value of $4.83 billion, the Bulls only trail the Boston Celtics ($5.12B), Los Angeles Lakers ($7.34B), New York Knicks ($7.43B) and the leading Golden State Warriors ($8.28B) in the list.

The Bulls have tallied a +18% one-year value change, but they dropped a step in the NBA's valuation rankings. Sportico notes that an average NBA team is worth $4 billion, bumping for 33% from last year. Factors that have contributed to this surge include national media contracts as well as international opportunities and collaborations.

NBA Valuations 🚨

The @NBA average team is worth $4 billion, up 33% from last year. The Warriors rank as the second most valuable team in sports behind the Cowboys.

Full rank: https://t.co/H24487QmvJ pic.twitter.com/ygI1eFwKon

— Sportico (@Sportico) December 13, 2023

Jackpot

The obvious big winner of this estimation for the Bulls is Jerry Reinsdorf, the Bulls owner, and chairman chairman. With him at the helm, he was able to turn the Bulls franchise into a massive business and a profit maker. Ultimately, he benefitted from the team’s popularity and significance, especially during Jordan’s reign.

Reisndorf and his group purchased the Bulls’ controlling stake for just $9.2 million in 1985. After 38 years, the rise of the franchise’s value has been truly mind-boggling.

What could the Bulls lineup look like in a perfect world?