RealGM Basketball Wiretap

21 December 2024

• Wizards Commit To D.C. With $800M Capital One Arena Renovation

  Capital One Arena, home of the Washington Wizards and Washington Wizards, will undergo an $800 million renovation to keep the teams in the building through their 49-50 seasons. The project is supposed to take place primarily over the next three summers, with an idealized end date of summer 2028 before the Wizards' and Capitals' 2027-28 seasons.

  The announcement comes just over a year since Ted Leonsis and Virginia Governor Glenn Youngkin announced plans to build an arena in Alexandria, Virginia. Wizards' parent company, Monumental, is pledging $285 million toward the arena renovation. Washington D.C. will pay $515 million.

  "I'd say, from a league standpoint, this is the ideal public-private partnership," Silver said. "This is nearly a billion-dollar investment, for their benefit and the community's benefit. I think these are the modern-day town halls, these arenas. What's happening now in these entertainment palaces, they are full, seemingly, every night of the year... this will easily put you in the top tier (of busiest NBA arenas) when this renovation is completed."

• NBA Francises Collectively Worth $138 Billion, Average Of $4.6 Billion

  The Golden State Warriors have become the second most valuable franchise in sports at $9.14 billion, trailing only the Dallas Cowboys at $10.3 billion. The Warriors are joined in the top-3 by the New York Knicks at $8.3 billion and the Los Angeles Lakers at $8.07 billion.

  Collectively, the NBA's 30 teams are worth $138 billion, including real estate held by owners and team-related businesses, such as WNBA franchises. The average NBA franchise valuation is now $4.6 billion and has a value-to-revenue multiple of 11.9, which is above all other leagues.

  The NBA has a significant drop off from the Lakers at No. 3 as they are worth 42 percent more than the Brooklyn Nets at No. 4 with a valuation of $5.7 billion.

  The 30 NBA teams generated an estimated $11.6 billion last year, or $387 million per club. The concert business has been a major revenue driver for NBA teams who own and control their own arena. The Lakers and Boston Celtics are the only teams in the top-10 who do not control their arena.

  2024 NBA Valuation Rankings
  1. Warriors: $9.14 billion
  2. Knicks: $8.3 billion
  3. Lakers: $8.07 billion
  4. Nets: $5.7 billion
  5. Clippers: $5.66 billion
  6. Celtics: $5.66 billion
  7. Bulls: $5.56 billion
  8. Heat: $5 billion
  9. Rockets: $4.77 billion
  10. Raptors: $4.66 billion
  11. Sixers: $4.57 billion
  12. Mavericks: $4.46 billion
  13. Suns: $4.32 billion
  14. Kings: $4.11 billion
  15. Hawks: $4.07 billion
  16. Nuggets: $4.06 billion
  17. Wizards: $3.98 billion
  18. Cavaliers: $3.95 billion
  19. Bucks: $3.91 billion
  20. Spurs: $3.79 billion
  21. Pacers: $3.74 billion
  22. Jazz: $3.67 billion
  23. Blazers: $3.6 billion
  24. Thunder: $3.55 billion
  25. Magic: $3.46 billion
  26. Pistons: $3.45 billion
  27. Hornets: $3.39 billion
  28. Timberwolves: $3.29 billion
  29. Pelicans: $3.09 billion
  30. Grizzlies: $3.06 billion

• Wizards Focused On Development Despite Mounting Losses

  The Washington Wizards knew this would be a tough season, but they didn't expect it to be quite this tough. However, the Wizards aren't changing course. They remain focused on the development of their young players.

  "We are immersed in a very difficult stretch right now," Wizards general manager Will Dawkins told The Athletic.

  "But we remain committed to the long-term sustainability of the organization," Dawkins added. "Our staff and players have continued to work, and are growing. We will continue to stack the positive developmental gains and, at the end of the season, put proper perspective on the totality of the year. Don't worry about the whole thing right now; at the end of the year, let's look up and see what we accomplished. They're getting better, and they're still working, and that's the main thing. What we signed up for is hard, and we know it."

  Before the season started, Dawkins said that Washington was still in the "deconstruction" phase of their rebuild. That means continue to move veteran players on and off the roster in various deals. With veterans coming and going this season, the Wizards have stayed true to the goal of getting their young players as much experience as possible.

  2023 first-round pick Bilal Coulibaly and 2024 first-round picks Alex Sarr, Bub Carrington and Kyshawn George make up Washington's young core. All four players are averaging between 26.2 and 34.8 minutes per game.

• Wizards, Jazz, Nets Considered Clear-Cut Sellers

  The Washington Wizards, Utah Jazz and Brooklyn Nets have emerged as the primary clear-cut sellers in the NBA ahead of the February trade deadline, sources tell The Stein Line.

  "When you call them, they're willing to make a deal right now," said one rival executive.

  The Toronto Raptors, Portland Trail Blazers and Chicago Bulls could join them at some point.

  The Wizards have the NBA's worst record at 3-19 and could consider trading Kyle Kuzma, Jonas Valanciunas and Malcolm Brogdon. The Wizards had a trade of Kuzma lined up at last year's deadline, but he elected to remain with the franchise.

  The Jazz are at 5-18, while the Brooklyn Nets have outperformed expectations at 10-14.

• Kyle Kuzma Expected To Draw Trade Interest From Contenders

  Washington Wizards forward Kyle Kuzma is expected to draw interest from contenders ahead of the trade deadline. Teams see Kuzma as a versatile combo forward who has championship experience from his time with the Los Angeles Lakers.

  Kuzma makes $23.5 million this season, in the second year of his four-year, $90 million deal. The veteran forward's contract declines each season to $21.5 million in 2025-26 before finishing at $19.4 million in 2026-27.

• Lakers Targeted Bub Carrington With No. 17 Pick Before Dalton Knecht's Slide

  The Los Angeles Lakers coveted Bub Carrington with the 17th overall pick in the draft. But he was selected by the Washington Wizards at No. 14 while Dalton Knecht was in the midst of a free fall. The Lakers didn't anticipate Knecht remaining available outside the lottery.

  In 18 games this season with the Wizards, Carrington is averaging 8.8 points, 3.9 rebounds and 4.4 assists in 27.7 minutes. Carrington has started 12 games though he shifted back to a reserve role on Nov. 22nd.

• Malcolm Brogdon In Line To Make Wizards Debut On Sunday

  Washington Wizards guard Malcolm Brogdon could make his season debut as soon as Sunday. Brogdon has been out while recovering from a thumb injury, but he's been removed from the Wizards injury report for their game against the Pistons on Sunday.

  Washington acquired Brogdon in a trade with the Portland Trail Blazers this past offseason. The Wizards also acquire rookie guard Bub Carrington in that deal, which sent Deni Avdija to Portland.

  The Wizards hope Brogdon will provide a young team with a veteran backcourt presence. Ideally, the combo guard will prove his healthy and will become a trade asset for Washington on an expiring $22.5 million contract.

• Tyus Jones Had Interest From Nets, Spurs, Pistons, Wizards

  Tyus Jones had interest from the Brooklyn Nets, San Antonio Spurs, Detroit Pistons, and Washington Wizards last offseason, according to Ramona Shelburne of ESPN.

  Jones received salary offers ranging between $8 million to $12 million per season from those teams.

  The Knicks also reportedly offered a two-year, $10 million deal.

  Jones would eventually agree to a one-year, $3.3 million deal with the Suns.

• Kyle Kuzma Out With Groin Strain

  Washington Wizards forward Kyle Kuzma will miss at least Wednesday's game due to a groin strain. The Wizards haven't announced a timeline for Kuzma's return, but it's expected he could miss additional time beyond the Hawks game Wednesday.

  In his fourth season with the Wizards, Kuzma has gotten off to a bit of a slow start. He's averaging 17 points, but shooting 33% from the field. The veteran forward has also been tasked to take on additional playmaking duties, with point guard Malcolm Brogdon sidelined with an injury.

• Wizards Won't Exercise 25-26 Options For Johnny Davis, Patrick Baldwin Jr

  The Washington Wizards will not exercise the 2025-26 rookie scale team options for Patrick Baldwin Jr. and Johnny Davis. These are the fourth-year options for both Baldwin and Davis.

  Baldwin and Davis will now be unrestricted free agents in the summer of 2025. The Wizards will be capped at paying them now more than the amount of their declined option in first-year salary, should the team re-sign them. For Baldwin, that is $4.4 million. For Davis, that is $6.7 million.

  Washington is in position to create nearly $30 million in cap space next offseason. Before the season, Wizards GM Will Dawkins said the team was still in the "deconstruction phase" with the roster. Look for Washington to continue to make moves with their roster this season, as they have several veteran players on tradable contracts. This includes Kyle Kuzma, Jonas Valanciunas and Malcolm Brogdon.