Mark Cuban believes the actual valuations of NBA franchises are higher than what Forbes typically estimates. 

“Any unique asset is worth what someone will pay for it,” Cuban said via email. “That said, most NBA teams and their arenas make money. When interest rates are low, as they have been for so long, the cash flows can justify these valuations and higher.”

NBA franchises are valued at $2.12 billion on average, which is up 475 percent from a decade ago.

“Add to that the value of any ancillary projects, real estate, development projects, whatever, and of course the vanity and branding value, and I think today … and of course things can change … but today NBA teams are undervalued. Considerably undervalued,” Cuban said.