Yahoo Finance sports reporter Josh Schafer joins the Live show to break down the value of the Golden State Warriors following their NBA championship win this week and how the team's owners have re-invest back into the franchise.
SEANA SMITH: All right. Let's talk about sports. Because Golden State Warriors defeating the Boston Celtics for the team's fourth NBA championship in just seven years. And that winning streak is certainly having a huge impact on the team's evaluation. Our sports reporter Josh Schafer is joining us now. And Josh, just break this down for us. Because it's incredible to see the value rise as they win championships.
JOSH SCHAFER: Yeah, Seana. It really is. So we'll start with their valuation right now. This is as of last year 2021. Forbes number $5.6 billion for the Golden State Warriors. And then when you look at-- and we can pull up a chart here of the numbers through the years, and from when they were bought in 2010. You can see-- so Joe Lacob and Peter Gruber bought this team for $450 million in 2010.
The value is more than 10x since then. And so they won in 2015 with Steph Curry, right? That's $1.3 billion there. Then the NBA has its new broadcasting deal in 2016. That shot up all the teams' valuations because that was a huge broadcasting deal. But really, what we've seen the Warriors do that a lot of teams haven't done is they're willing to pay this luxury tax. They paid $184 million in luxury tax this year. That's more than most teams spend on their salary cap as a whole.
The luxury tax is something that comes extra. When you pay players too much, you have to pay this luxury tax. They've invested in that. Then what that did was it brings their valuation up. They're able to buy the Chase Center, $1.4 billion. The Warriors funded that themselves. That was an investment back into the team. They have real estate around there, Uber rent offices from them that are right there.
So then they sort of-- they've talked about this in the past. You've heard their executives sort of reference Disney. They have the characters. You have Steph Curry, Klay Thompson, Draymond Green. So they have those Disney-like characters. Then you build Disneyland with the Chase Center. And then they have the NFTs. And you build it all out. And now you can just keep growing and keep growing. And it kind of goes beyond sports. You have real estate properties. It's crazy how it works.
SEANA SMITH: It is. And it's incredible to see what they've built over the last several years. And Steph Curry, he's not going anywhere. So maybe we'll see a few more championships there before he's done. All right, Josh Schafer thanks so much.