The Los Angeles Lakers may not be winning on the court, but they sure are winning off the court.
According to a recent report by Brand Finance, the world’s leading brand valuation and strategy consultancy, the Lakers are the second most valuable brand in the NBA.
Brand Finance annually evaluates 5,000 of the world’s largest brands and publishes more than 100 reports that rank these brands across sectors and countries.
One of these reports is about the NBA’s strongest brands, and it ranks all 30 teams, including the value of that team’s brand worldwide. This value is determined by the net economic benefit that the brand owner receives from licensing the brand in the open market.
In addition to brand value, Brand Finance also determines the relative strength of brands by assigning a strength score. This scorecard is determined by a series of metrics that evaluate marketing investment, stakeholder capital, and business performance.
The Lakers brand received 85.4 out of 100 points and a brand value of $693 million worldwide. It was second only to the Golden State Warriors, who scored 86.1 out of 100 and had a brand value of $712 million worldwide.
Contributing to the Warriors’ title as the world’s most valuable basketball brand was winning their seventh NBA championship in June. The Lakers are tied for the most titles in history with 17, but recent success has certainly played a role in the brand’s valuation, as the Warriors have won four championships in the last eight years. The Lakers have won just one title (2020) in that same span.
Like the Warriors, the Lakers have a huge global fan base that the franchise has invested heavily in when it comes to marketing and business. Helping both the Lakers and Warriors with their brand value is having a number of world-class stars on their rosters, such as LeBron James, Maji Johnson and the late Kobe Bryant. The Warriors also did a great job marketing Steph Curry and Klay Thompson, as well as Kevin Durant when he won two titles with the team in 2017 and 2018.
By comparison, the Lakers’ brand score of 85.4 is similar to global brands like McDonalds and PayPal.
“The Brand Finance NBA rankings show that success on the court is important, but investing in marketing and sales while actively engaging with fans is critical to brand success,” said Hugo Hensley, head of Brand Finance Sports Services. “Strong brands can help maintain revenue for teams whether they’re performing well on the field or not, provide long-term sustainability and ultimately increase their chances of success.”
Rounding out the top five are the New York Knicks ($332 million brand value) in third place, the Chicago Bulls ($332 million brand value) in fourth place and the Boston Celtics ($331 million brand value) in fifth place. .
The brand value ranking also aligns with Forbes’ annual NBA franchise valuation. The Warriors also top the list with a value of $7 billion. The Knicks and Lakers are second and third with values of $6.1 billion and $5.9 billion, respectively. Rounding out the top five are the Bulls ($4.1 billion) and the Celtics ($4 billion).
For a complete ranking of the brand value of all 30 NBA teams, as well as additional insights, charts and more information on Brand Finance’s methodology, check out the full NBA 2022 report here.