Timberwolves franchise value on the rise

Jan 23, 2013; Minneapolis, MN, USA; Minnesota Timberwolves guard Ricky Rubio (9) passes during the third quarter against the Brooklyn Nets at the Target Center. The Nets defeated the Timberwolves 91-83. Mandatory Credit: Brace Hemmelgarn-USA TODAY Sports

Ever since the Timberwolves traded forward Kevin Garnett to the Celtics in 2007, the franchise has struggled to fill seats at the Target Center.

Times are changing.

New estimates from Forbes show that the Timberwolves franchise increased their worth 33.8 percent to $364 million, moving to 26th from 27th in the value ladder among other NBA teams, according to Rich Kirchen of The Business Journal. The Timberwolves are growing at an above average rate, as the Forbes estimates the league average in growth at 30 percent.

Roster Additions

The additions of point guard Ricky Rubio and forward Andrei Kirilenko to a roster that includes forward Kevin Love and center Nikola Pekovic play a large role in the success. Before the season was marked with injuries, there was much excitement about the product the franchise was putting on the court.

Marketing

The Timberwolves recently stepped up their efforts in marketing and sponsorship as well, using a several promotions and product sponsorship—more than usual—at events and practice, as well as during games.

An ultimate boost in franchise value would come when Minnesota returns to the playoffs—something they have not been able to do after the departure of Garnett.

Topics: Minnesota Timberwolves

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