NBA Title Worth Millions for Winning Team
NBA Playoffs 2013
An NBA title could be priceless for players but winning it could translate to millions of dollars in bonuses, merchandise and ticket sales and a tourism boost to the area represented by the champion team.
According to Kathleen Davis, president of Sport Management Institute, a repeat by the Miami Heat could bring better gains to the city "because the economy is improving and people are spending more".
However, the Heat have a long way to go as they are up against a tough Indiana Pacers side.
This season, the league will distribute $13 million in bonuses to teams that excel in the two-month postseason.
The Heat have already racked up more than $1.5 million in bonuses, including $374,947 for the best record in the NBA and $328,078 for the best record in their conference.
Also, the Heat received $194,016 for being in the first round of the playoffs, $230,853 for the conference semifinals and $381,482 for the conference finals.
The NBA also will shell out $2.3 million to the team that wins the Finals and $1.5 million to its rival.
Aside from that, winning an NBA championship dramatically boosts demand for game tickets.
The Heat sold about 18 percent more tickets for home games this season compared to the year before it won the 2012 title, according to ticket re-seller Stubhub.com.
Currently, demand for Heat tickets is strong that the team is now offering a three-year renewal package for season-ticket holders at every price point.
Also, an NBA title could translate to increased merchandise sales, from hats and T-shirts to expensive photos and jewelry.
According to estimates from SportsOneSource, the Heat now are selling their licensed merchandise at U.S. retail outlets at a faster pace than the NBA as a whole.
Since February this year, the team's merchandise sales jumped about 50 percent from the same time last year, while NBA sales slipped.
The Heat's sales were less robust before they won. In the fiscal year that ended in January 2012, its merchandise sales rose 44 percent, versus 50 percent for the NBA.
The Heat's team value also rose after they won the championship, from $427 million a year earlier to $625 million in January 2013.
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