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Powered by record-setting telecast rights and club sales deals, the National Basketball Association saw team values skyrocket 74 percent over last year to a $1.1 billion average, Forbes magazine reported Wednesday. The jump reported on the magazine website is the largest year-to-year gain since Forbes began listing its sports team values for the major North American leagues in 1998. It lists 11 NBA teams worth at least $1 billion (863 million euros) compared to three in 2014. The report said former Microsoft boss Steve Balmer overpaid when he bought the Los Angeles Clippers for $2 billion last year in the wake of the racism controversy surrounding former owner Donald Sterling, valuing the Clippers at $1.6 billion but noting the premium that teams in large cities have in value because of greater local revenue streams, citing those signed in the past six months by Miami, Atlanta and Sacramento.
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