How much are the Phoenix Suns and Mercury worth? If you have to ask, you can't afford it

Robert Sarver has announced his intention to sell the Phoenix Suns and Phoenix Mercury following a league-sanctioned report that found he was responsible for misogynistic and racially insensitive words and actions.

This has sparked speculation on how much the teams (primarily the Suns) might fetch when a new buyer steps in.

The short answer: Whatever the next billionaire or mega-millionaire is willing to pay. But the following factors could guide that buyer:

The Suns and Mercury could be worth:

More than they were when Sarver bought a controlling interest in 2004. This is a virtual slam dunk. The sale amount back then was $401 million. Forbes recently valued the team at $1.8 billion.

Inflation alone since then would have pushed the value to more than $600 million, but other factors also are at play. These include the rapid growth of the billionaire class and the prestige associated with owning professional sports teams when private jets, sports cars and mansions just won't do.

The Suns, as opposed to the Mercury, would represent the bulk of any sales price. Terms for WNBA transactions aren't routinely disclosed. An ESPN article said teams in the league typically change hands for around $10 million to $15 million. When MGM Resorts International, a public company, sold the Las Vegas Aces last year, the company didn't mention the sales price in their financial statements.

More than other recent deals. Among transactions of late in the NBA, the Utah Jazz sold for just under $1.7 billion in 2020 and the Minnesota Timberwolves are set to change hands by the end of 2023 for $1.5 billion. Given that metro Phoenix is more populous than either the Minneapolis-St. Paul area or greater Salt Lake City, one would think the Suns could fetch a higher price than those deals, especially given a rabid fan base here and a highly competitive team.

But a Suns sale price might not match the $3.3 billion paid in 2019 for the Brooklyn Nets, located in greater New York, or possibly even the $2.2 billion paid in 2017 for the Houston Rockets, also in a bigger market.

More coverage:Who can afford to buy the Phoenix Suns and Mercury from Robert Sarver?

Less than the Arizona Cardinals. Like the Suns, valued No. 18 by Forbes among the 30 NBA teams, the Cardinals also are a second-division player in terms of perceived financial worth. But even in 27th place among the 32 NFL franchises, the Cardinals are still worth an estimated $2.65 billion, according to Forbes. At around $3.4 billion, the estimated median or midpoint value of NFL franchises is almost double the NBA median of around $1.9 billion.

More than the Arizona Diamondbacks. As with the Cardinals in the NFL and the Suns in the NBA, the Diamondbacks have a relatively low franchise value compared to their baseball rivals. Forbes pegs the team as worth around $1.4 billion, in 21st place overall, compared to a median or midpoint value around $1.7 billion for all 30 MLB franchises.

Metro Phoenix has moved up in the population rankings, but household incomes here are still fairly low compared to other top U.S. metro areas. That could be one factor dampening local sports franchise values.

In addition, this is a transitory state. It can take years — possibly generations — for fan loyalties here to match those in many older cities. Arizona, as a state, is only two months older than Fenway Park, home of the Boston Red Sox.

These are considerations for the Valley, which recently attracted more net newcomers from other states than any other metro area, according to the Census Bureau.

Reach the reporter at russ.wiles@arizonarepublic.com.

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