Forbes values Pistons at $450 million, No. 25 in NBA

Kirby Lee-US PRESSWIRE

Forbes pegged the Pistons franchise value at a cool $450 million, reportedly $125 million more than what Tom Gores and co. paid for the team a little under three years ago.

Forbes released its annual NBA team values earlier this week and the Pistons came in at No. 25 with a price tag of $450 million.

Here's the write up from Forbes:

There have been a lot of dark days at the Palace at Auburn Hills since the Pistons reached six straight Eastern Conference finals between 2003 and 2008. The team lost 64% of its games the past four seasons and the season ticket base dropped by half. But Tom Gores has poured $40 million into renovating the arena since he bought the team in 2011 and this year season ticket sales are up 36%. Sales of suites on the top level continue to be a problem with only 10 of the 64 suites leased last season.

Despite their value increasing, the Pistons are dropping among other NBA teams. In 2012, they were ranked 17th at $332 million and they were 22nd a year ago at $400 million. Ticket sales are up, though!

The most valuable teams according to the list are the New York Knicks ($1.4 billion) and Los Angeles Lakers ($1.35 billion).

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