The National Basketball Association is undoubtedly the most popular professional basketball organization in the world, and its teams currently operate in the United States and Canada (only one team belongs to Canada, the Toronto Raptors). The NBA has thirty basketball teams who are owned by independent investors. There are two conferences in the NBA: Western Conference and Eastern Conference. Within each of the previously mentioned conferences, there are three divisions, so six divisions in total, which are classified from two conferences.
At the end of the year, there is a sixteen-team playoff system. Out of the fifteen teams in each conference, there are eight different “seeds,” which are essentially rankings of the basketball teams. The best team assumes the number one seed, and the eighth best team is named the number eight seed. The number one seed is matched up against the eighth in the first round; second seed with seventh seed; etc., and the teams play a best-of-seven series.
After the first round, there is a round of eight (four teams in each conference), which again play best-of-seven series. The next round, called the Western or Eastern Conference Final, takes place between the two best teams in each of the conferences. After that, the NBA Finals takes place.
The National Basketball Association has had the potential to become the profound success it is today due mainly in part to the unlimited financing teams can receive. Nearly all NBA teams are worth more than a billion dollars, and some are worth several billion dollars: the most expensive team, the Lakers, has been estimated by some to be worth in excess of $4 billion.
Mr. Bruce Levenson is a great example of an investor who greatly transformed the value of an NBA team through smart business decisions, talent acquisitions, and creation of chemistry in the team’s locker room. Mr. Levenson used to own the Atlanta Hawks, which went all the way to the Eastern Conference Finals this year. The Atlanta Hawks are known for stars such as Kyle Korver and Jeff Teague, who nearly beat the Cavaliers this year in the ECF.
Mr. Levenson bought the Atlanta Hawks for around half of a billion dollars, and sold it for around seven hundred and thirty million dollars – talk about a hefty profit! Owners of NBA teams have lots of freedom in building their team, employees, and all other aspects of a team. Owning an NBA team isn’t exactly easy, and it definitely isn’t cheap.
The National Basketball Association features players from all around the world, although most of the do come from the United States (after all, the Untied States plays better basketball than any other country in the entire world), but such stars as Dirk Nowitzki and Manu Ginobili hail from Europe, and Tim Duncan is from the Virgin Islands.
The NBA provides many families and friends with nearly endless entertainment throughout a season, especially during the playoffs. The playoffs usually last a little over a month, and is one of the most watched sporting events in the United States.