The only franchises estimated above the Rockets are the No. 1 Golden State Warriors ($9.4 billion); the No. 2 New York Knicks ($7.5 billion); the No. 3 Los Angeles Lakers ($7.0 billion); and the No. 4 Chicago Bulls ($5.8 billion).

To say the least, it’s a massive increase from the $2.2-billion figure that current owner Tilman Fertitta purchased the Rockets for in 2017.

“According to team executives, the biggest reason for the rising tide in NBA valuations has been the increase in national media rights, which are divided equally among the league’s 30 teams,” CNBC’s Michael Ozanian writes. “In July, the NBA agreed to a new media rights package worth $76 billion over 11 years, beginning with the 2025-26 season. On an average annual basis, the new deal is worth $6.9 billion a year, nearly 160% more than its current deal is worth.”