Future media deals are helping to drive up the value of NBA teams, including the Jazz.
Forbes reports that Arctos and another partner bought roughly a 10 percent stake from the Miller family — and it would seem to have come at a premium.
Part of what is driving high values of NBA teams, per Forbes, is the expectation that the league’s next media rights deal will double its current average of $2.66 billion a year., and was the first firm of its kind to have shares in teams in each of the NBA, NHL, MLB and MLS. It currently has a 17% ownership stake in the Sacramento Kings, recently increased its ownership stake in the Golden State Warriors from 5% to 13%, and has an undisclosed stake in the Philadelphia 76ers.
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