1. Let’s put a dollar value on this
The Spurs’ market share instantly raised on Tuesday night. We already know what LeBron James meant to the Cavaliers in the 2010s. However, economic conditions have changed a lot since then. Additionally, basketball has only grown in popularity, leading to an increase in profits.
So how much will adding Victor Wembanyama to the team truly change the business side of the Spurs organization? NBA Insider Adrian Wojnarowski says an anonymous team president told him that the team that lands Wemby could add as much as $500 million in value to their franchise.
2. Hints at a new stadium
As Tom Petrini stated in an earlier Tweet, San Antonio receiving the number one overall pick “makes it more likely that The House that Wemby Built goes in downtown San Antonio.” Sure, the organization is already spending $510 million on a brand-new practice facility (kinda convenient, that's almost exactly the projected increase in the value of the Spurs).
And sure, the AT&T Center is fine ( it ranked 21st out of 30 stadiums by BR in 2012). But as Mike Finger points out above, the stadium is in an inconvenient location; it’s over three miles away from downtown San Antonio. While it is relatively new (built in 2002), it has a strange design. The franchise has turned a new leaf with Wembanyama, maybe its time to do the same with a new arena.
3. Boost to the local economy
We have already discussed the increasing market value of the franchise. How about San Antonio’s economy in general? Dakota Mitchell, owner of Campeche Collective (a south central Texas-based Spurs merchandise company) was front and center on News 4 San Antonio following the lottery.
Dakota spoke about sales slowing down over the past couple of years, implying Wemby will help boost his revenue as fans regain excitement about the team. From t-shirts and lodging to restaurants and fireworks, all kinds of business owners are probably thanking their lucky stars that the city they call home was blessed with Victor Wembanyama.