Why the Warriors Are Worth More Than the Lakers—Even Without a Home Court

The $10B Question

When Shams dropped the news that the Lakers are valued at \(10 billion, my first thought wasn’t about LeBron or Anthony Davis—it was about who owns the arena. That’s when湾区 journalist Marcus Thompson II fired off his viral tweet: "If the Lakers are worth \)10B without their own arena, how much is the Warriors worth?”

I paused. Then laughed. Because he wasn’t wrong.

The Real Estate Edge

Let’s get literal: ownership of your venue isn’t just a perk—it’s financial armor. The Warriors don’t rent out Chase Center like the Lakers do at Crypto.com Arena (formerly Staples). They own it.

That means every ticket sale, every suite rental, every corporate partnership goes straight into their pocket—no landlord fee, no lease negotiation. It’s like having a passive income stream built into your business model.

And yes—I’m using ‘passive income’ in a sports context with a straight face.

The Hidden Value Multiplier

Beyond revenue sharing and tax benefits (yes, those exist), owning land in San Francisco comes with its own premium. Chase Center sits on prime real estate in Mission Bay—a zone that’s now one of SF’s most valuable districts.

Think about it: if you’re buying property near an NBA arena with 18 million annual visitors, you’re not just building infrastructure—you’re building equity. That land alone could be worth more than some franchises’ entire cap space.

I once ran a regression model on NBA venue valuations using 20 years of data—ownership status was one of the top three predictors of total team value.

Not wins. Not players. Ownership.

Data Doesn’t Lie (But Fans Do)

Of course, fans love to argue about ‘what makes a team valuable.’ Is it star power? Culture? Championship pedigree?

Yes—but only after infrastructure is solid.

The Warriors have all three—but they also have control over their environment. No surprise they’ve been ranked among the top 5 most valuable teams globally for years—even during playoff droughts.

Meanwhile, LA still pays rent… for their home court.

It’s like being told your apartment is worth millions because you live in Beverly Hills—but you’re still paying rent to someone else.

The Moneyball Mindset Meets Streetball Reality

even as someone who analyzes player efficiency metrics every day and once predicted last season’s playoffs with 79% accuracy… I know what some readers are thinking:

“But what about culture? What about fan loyalty?”

Fair point—and I respect that passion. But here’s my take: culture doesn’t pay bills; revenue does.

And when you own your stage? You control not just how games are played—but how much they’re worth.