RealGM Basketball Wiretap

20 October 2025

• Hornets Waive Eric Dixon

  The Charlotte Hornets have waived forward Eric Dixon. The Hornets had signed Dixon to an Exhibit 10 contract. Dixon is expected to join the Greensboro Swarm for the upcoming G League season.

  The Hornets roster now stands at the regular maximum of 18 players.

• Hornets Waive Jonas Aidoo

  The Charlotte Hornets waived center Jonas Aidoo. The Hornets had signed Aidoo to an Exhibit 10 contract. Aidoo is expected to join the Greensboro Swarm for the upcoming G League season.

  The Hornets roster stands at 19 players after waiving Aidoo and the previously reported waiver of Spencer Dinwiddie. Charlotte will need to make one more waiver to get into regular season roster compliance. Eric Dixon remains with the Hornets on an Exhibit 10 deal and is likely to be waived, then join the Swarm.

• NBA Team Valuations Reach $5.51 Billion Average, Up 20 Percent From 2024

  The average NBA team is now worth $5.51 billion, up 20 percent year-over-year and 113 percent since 2022, according to Sportico's calculations. The collective value of all 30 franchises reached $165 billion, driven by a landmark $76 billion media rights agreement and strategic arena investments.

  Rick Welts, newly appointed Dallas Mavericks CEO, called the current moment unprecedented for league growth.

  "Never had a moment like this where you could be as optimistic as I am," Welts said in a video interview. "A lot of people are in this league, from an international perspective, from a media perspective, and I really feel like we have the best ahead of us."

  The Golden State Warriors maintained their five-year reign as the NBA's most valuable franchise at $11.33 billion, second globally only to the NFL's Dallas Cowboys at $12.8 billion. The Los Angeles Lakers jumped to second place at $10 billion after Mark Walter's pending acquisition at 16 times revenue, surpassing the New York Knicks at $9.85 billion. The average value-to-revenue multiple for the NBA is 13.5, ahead of the WNBA at 12.0, the NFL at 10.3 and MLS at 9.4.

  The Warriors' dominance stems from arena ownership, sponsorship revenue nearly double any other team, and their WNBA affiliate, the Golden State Valkyries, valued at $500 million. The Valkyries made history as the first expansion team to qualify for the playoffs in their inaugural season.

  The new media contract with Amazon, ESPN/ABC and NBC raises each team's annual television revenue from $103 million to $143 million, with seven-percent annual increases through 2036. The "get-in" price for franchise ownership-represented by the Memphis Grizzlies at $4 billion-has jumped 2.5 times since 2022, when it stood at $1.63 billion.

  Recent high-profile sales drove valuations across the board. The Boston Celtics sold for $6.1 billion in March, while the Lakers' pending deal at $10 billion set a new record for control sales in sports history. The Portland Trail Blazers agreement at $4.25 billion followed in August.

  The NBA is pursuing expansion in Europe in partnership with FIBA, potentially launching 16 teams with a fall 2027 tipoff. The league also plans to develop a Basketball Africa League with 12 teams and dedicated home arenas. Welts emphasized international opportunities as transformational for league economics.

  "The international opportunity is multiple of what the domestic U.S. sports market is," Welts said. "The technology will allow anybody, anywhere in the world to consume any NBA game."

  New arenas are under construction in Oklahoma City ($900 million, opening 2028) and Philadelphia (2030), with the Dallas Mavericks scouting sites following 24 years at the shared American Airlines Center.

  2025 NBA Team Valuations

  Rank	Team	2025 Valuation	1-Year Change
  1	Golden State Warriors	$11.33B	+24%
  2	Los Angeles Lakers	$10B	+24%
  3	New York Knicks	$9.85B	+19%
  4	Los Angeles Clippers	$6.72B	+18%
  5	Boston Celtics	$6.35B	+12%
  6	Brooklyn Nets	$6.22B	+9%
  7	Chicago Bulls	$6.12B	+10%
  8	Miami Heat	$6.03B	+21%
  9	Philadelphia 76ers	$5.61B	+23%
  10	Houston Rockets	$5.53B	+16%
  11	Dallas Mavericks	$5.24B	+17%
  12	Toronto Raptors	$5.22B	+12%
  13	Phoenix Suns	$5.09B	+18%
  14	Atlanta Hawks	$5.02B	+23%
  15	Sacramento Kings	$5B	+22%
  16	Cleveland Cavaliers	$4.86B	+23%
  17	Denver Nuggets	$4.8B	+18%
  18	Washington Wizards	$4.78B	+20%
  19	Indiana Pacers	$4.76B	+27%
  20	Milwaukee Bucks	$4.54B	+16%
  21	San Antonio Spurs	$4.5B	+19%
  22	Oklahoma City Thunder	$4.34B	+22%
  23	Utah Jazz	$4.27B	+16%
  24	Portland Trail Blazers	$4.25B	+18%
  25	Minnesota Timberwolves	$4.24B	+29%
  26	Orlando Magic	$4.21B	+22%
  27	Detroit Pistons	$4.17B	+21%
  28	Charlotte Hornets	$4.13B	+22%
  29	New Orleans Pelicans	$4.02B	+30%
  30	Memphis Grizzlies	$4B	+31%

• Spencer Dinwiddie Waived By Hornets

  Spencer Dinwiddie has been waived by the Charlotte Hornets. Charlotte's roster now stands at 19 players.

  Dinwiddie originally signed with the Hornets on July 13, 2025 and has appeared in two preseason contests totaling six points in 30 minutes of play.

  Dinwiddie averaged 13.0 points, 3.0 rebounds and 5.1 assists in 27.7 minutes last season with the Dallas Mavericks.

• Hornets Waive Ibou Badji

  The Charlotte Hornets waived Ibou Badji, the team announced on Tuesday.

  Badji most recently played for La Laguna Tenerife in Spain.

  Badji, who initially signed an Exhibit 10 contract with the Hornets, is likely to join the Greensboro Swarm.

• Hornets Sign Eric Dixon

  The Charlotte Hornets signed Eric Dixon, the team announced on Wednesday.

  Dixon originally agreed to a two-way contract with the Lakers this offseason, though he was eventually signed on a non-guaranteed Exhibit 10 deal following injury concerns.

  Dixon, who averaged 23.3 points for Villanova last season, is likely to play with the Greensboro Swarm this season.

• Hornets Waive DJ Rodman

  The Charlotte Hornets waived DJ Rodman, the team announced on Tuesday.

  The team signed Rodman to an Exhibit 10 contract last week.

  Rodman, who played with the Capital City Go-Go and Maine Celtics last season, is likely to join the Greensboro Swarm.

• Hornets Sign Ibou Badji, DJ Rodman To Camp Deals

  The Charlotte Hornets have signed Ibou Badji and D.J. Rodman to Exhibit 10 contract. Both Badji and Rodman are expected to join the Greensboro Swam of the G League after the preseason.

  Badji spent last season with the Wisconsin Herd of the G League. In 50 games, the 7-foot-1 center averaged 6.0 points, 5.3 rebounds and 3.5 blocks per game.

  Rodman is on his second stint with the Hornets. He was previously signed to an Exhibit 10 deal, as the Hornets continued their roster shuffling to set the roster for the Swarm this season.

• Hornets Waive Jaylen Sims, Isaih Moore

  The Charlotte Hornets have waived guard Jaylen Sims and forward Isaih Moore. Sims and Moore were both signed to non-guaranteed Exhibit 10 contract.

  Sims and Moore are expected to return to the Greensboro Swarm of the G League this season. Both players played for the Swarm for portions of last season.

  The Hornets roster stands at 19 players. Charlotte has 16 players on standard contracts and will need to waive or trade at least one player from a standard deal to meet the regular season maximum of 15 players on standard contracts.

• Hornets Waive Nick Smith Jr.

  The Charlotte Hornets waived Nick Smith Jr., the team announced on Thursday.

  Smith averaged 9.9 points and 2.4 assists in 60 games for the Hornets last year.

  The team selected Smith with the No. 27 pick in the 2023 NBA Draft.