Today, the Golden State Warriors are viewed as one of the biggest teams in the NBA, a global brand in every sense. The Warriors’ growth has been dramatic, as the franchise emerged as one of the most successful dynasties of the modern era. Needless to say, Stephen Curry has been a reason for this.
Since he arrived in 2009, Stephen Curry has gradually grown as a superstar. Although his rise was slow at first, he burst onto the scene in 2015 and helped the Warriors secure their first title since 1975, effectively establishing himself as the face of the franchise.
The presence of a superstar clearly has a drastic impact on a franchise’s value. While this is commonly seen in the sporting world, Stephen Curry is in a realm of his own. To that extent, during a recent episode of “Boardroom Talks,” Kevin Durant claimed that the Warriors should gift Curry an ownership stake to reward him for the value he has created. He commented:
“The Golden State Warriors have been the number one valued team in sports since 2015, the year that Stephen Curry just jumped onto being this iconic player. The majority of that income is based on people wanting to come see him play. You know, buy his jerseys. Build around the arena. Just drives income to that region of the country, the Bay Area.”
As Durant mentioned, the Warriors’ growth as a global brand was closely linked with Stephen Curry’s rise as a superstar. With Curry’s performances driving more fans to fill seats and buy jerseys, Golden State’s value grew significantly, which also affected the local businesses.
A similar event was seen when LeBron James signed with the Philadelphia 76ers this summer. With reports indicating that economic activity in Philadelphia was expected to go up after the news broke, the large-scale impact of a superstar cannot be overlooked. On that note, Durant continued:
“His last name is worth so much to that franchise that he should be gifted that almost at this point. It’s been a lot of guys throughout the course of the league who’ve done that. It might not have been as long as Steph, but it might have been a nice three-or-four-year period where you had a Tracy McGrady in Orlando or Yao Ming in Houston.”
“They just bring so much business to that city. They’re worth way more for that short period of time because you’re striking while the iron’s hot. I got to Houston, the ticket prices went up.”
Durant’s examples of Tracy McGrady‘s time with the Orlando Magic and Yao Ming‘s tenure with the Houston Rockets are quite appropriate in this context.
The season before McGrady’s arrival, the average ticket price for a Magic game was $44.18. In the following season (2000-01), the price rose to $49.04. Similarly, Yao Ming’s arrival in 2002 opened the China market to the Houston Rockets, establishing the franchise as a global brand. With an influx of international fans and increased revenue from sponsorship and television deals, the Rockets reaped the benefits of Ming’s stardom.
While both McGrady and Ming serve as just two examples among many, Stephen Curry’s impact is on a completely different level.
When Joe Lacob and Peter Gruber purchased the franchise in 2010, the Warriors were valued at $450 million. According to the latest updates, sources indicate that the Golden State Warriors are currently valued between $10.8 and $11.3 billion. While title success is a big reason for this, none of it would have been possible without Stephen Curry.
For the most part, Durant’s comments place the onus on teams to properly compensate superstars for their role in the franchise’s growth. While this could be controversial given how much superstars are paid, for a player like Stephen Curry, who has spent his entire career with Golden State, it seems appropriate.