The Chicago Bulls may be struggling on the court, but that doesn’t seem to be negatively impacting their financial worth.

In fact, despite having only made the playoffs twice in the last nine campaigns — and losing in the first round both times — their value is increasing.

According to CNBC’s latest NBA franchise valuations, the Bulls sit just outside the top-three most-valuable franchises, with a worth of $5.8 billion — up from sixth place and $5 billion last year. They fall behind the Golden State Warriors ($9.4 billion), New York Knicks ($7.5 billion) and Los Angeles Lakers ($7 billion).

A similar spike happened across the NBA, likely due in part to its financial success in the 2023-24 season. In April, the league announced it had set all-time records for regular-season total attendance, average attendance, percentage of capacity and sellouts for the second season in a row. As a result, the spike in revenue has driven estimated sale prices for all 30 teams up, with no team expected to go for less than $3.2 billion.

In late 2024, CNBC listed the Bears as the NFL’s 10th-most valuable team at $6.4 billion and the Blackhawks as the NHL’s seventh-most valuable team at $2.6 billion.

The Bulls, owned by Jerry Reinsdorf, were last bought in 1985 for $16.2 million, according to the valuation. Chicago has won just six league titles in those 40 years, and it hasn’t made the final round of the playoffs since 1998 — Michael Jordan’s last year with the team.

Reinsdorf also owns the White Sox, who broke MLB’s record for single-season losses in September with 121.