Each year, Forbes publishes a list of every NBA team ranked by value. Jerry Reinsdorf continues to use the Chicago Bulls brand as his cash cow, as the Bulls check in at a value of $3.65 billion. That figure makes Chicago the fourth-highest valued NBA team.
The Bulls' percent change was 11%, similar to a good portion of the other teams in the league. At fourth, the Bulls rank behind the New York Knicks, Los Angeles Lakers, and Golden State Warriors. All the teams in front of Chicago are valued at over $5 billion.
The Bulls can get to that milestone with fans re-engaging with the team after an offseason roster revamp. The Brooklyn Nets recently reloaded their roster and experienced 21% growth last year. It wouldn't come as a surprise if the Bulls experience the same sort of growth this year. The Bulls still own the largest arena in the NBA, so with sell-out crowds eager to see a competitive team, they can make up ground. Here is a full valuation of the Bulls' business practices by Forbes.
Overall, the NBA can accredit their growth to local media deals, moving some games to streaming services, and jersey advertisements. The NBA was one of the first leagues in the United States to consider jersey advertisements and other leagues have started to follow suit or at a minimum consider it.
Lee Berke, a media rights expert, told Forbes, “My projection is that the NBA’s media deals will double in value, thanks in part to a substantial boost in streamed content." This outlook is a positive development for the league as it continues to see growth domestically and internationally.
Bulls' owner Jerry Reinsdorf also owns the White Sox. There have been rumors of Reinsdorf potentially selling his majority shares of the White Sox at some point, but he has not floated this idea with the Bulls. His son, Michael Reinsdorf, has served the role of Chief Operating Officer for the past few years.