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Atlanta Hawks valued at $885 million in latest Forbes estimate

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The Hawks are worth nearly a billion dollars.

NBA: Detroit Pistons at Atlanta Hawks Jason Getz-USA TODAY Sports

The Atlanta Hawks may not be a championship contender in 2017 but Tony Ressler and the team’s ownership group are probably pretty happy with their investment. Earlier this week, the good folks at Forbes released this year’s NBA franchise evaluations and, while the Hawks rank just No. 23 in the league, there is plenty of money to be made.

Ressler and his group purchased the team for $730 million and, in this estimate, the Hawks are now worth $885 million. That comes with a franchise-high $169 million in revenue within the past year and, of course, Atlanta’s franchise value has been aided by public funding that will go toward a renovation for Philips Arena.

To that end, Forbes brings word that the franchise netted a $19.8 million profit over the past year. When compared to some teams (i.e. the NBA champion Cleveland Cavaliers), that is a strong return and Atlanta has been fiscally responsible when it comes to player salaries and the salary cap.

In addition, the Hawks acquired a D-League franchise within the past year and the team is on track for additional playoff revenue for what would be the tenth consecutive season. It remains to be seen as to which direction the basketball portion of the organization will head in the coming months and years but, from a value perspective, the Atlanta Hawks have never been worth more.