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Wednesday, June 19, 2024

Nuggets Eyeing History And Big-Time Bounce To Bottom Line

  • Other Kroenke-owned teams have seen marked escalation in franchise value after title runs
  • Team has reached capacity in full season tickets for 2023-24 season
Isaiah J. Downing-USA TODAY Sports

For nearly all of the Denver Nuggets’ 47 years of existence in the NBA, the team has largely been off the national radar.

They’ve made no Finals appearances until this year, won just two postseason series between 1995 and 2018, and can claim only three Basketball Hall of Famers who played the bulk of their careers in Denver.

But with the arrival of star center Nikola Jokić and their rise to unprecedented competitive heights, the Nuggets are now poised for a series of meaningful business boosts.

The team entered the 2022-23 season with an estimated franchise value of $1.93 billion, 22nd in the league and similar to smaller-market franchises such as Oklahoma City, Indiana, and Charlotte. But a significant increase is likely for the Nuggets later this year, given the path traveled recently by other title-winning teams owned by Stan Kroenke.

After the NFL’s Los Angeles Rams won Super Bowl LVI early last year, their value rose from $4.8 billion to $6.2 billion, third-best in the league. Similarly, the NHL’s Colorado Avalanche grew in value from $630 million in 2021 to $860 million after their 2022 Stanley Cup championship.

The Nuggets have reached capacity for full-season ticket sales for the 2023-24 season, a sales run not unlike that of the Avalanche this past season. This summer, the team will also hit the market for another jersey patch deal in a position of strength. The Nuggets’ three-year extension with financial services firm Western Union expires at the end of this season.

A Mile-High Boost

Meanwhile, the Denver Chamber of Commerce projects a $22 million infusion in the city’s downtown business due to the Nuggets’ Finals appearance.

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