These are slam-dunk days for NBA owners. We saw it in a big way when the league extended its TV deals with ESPN /ABC and TNT in October 2014 to the tune of $24 billion over nine years, which was triple the previous annual rate. Now, other properties are ramping up their commitment to the league. Commissioner Adam Silver has spearheaded a bevy of new sponsor signings with deals at twice or even up to four times the previous amounts with companies clamoring to get a piece of the U.S. sports league with the best global prospects.

The league’s 30 teams generated $5.2 billion in revenue last season and $900 million in operating profit (earnings before interest, taxes, depreciation and amortization). Both are records. The NBA’s 2011 collective bargaining agreement, which enhanced revenue sharing for poorer small market teams and cut player costs, means that every team except one—billionaire Mikhail Prokhorov’s Brooklyn Nets—turned an operating profit last season.

Commissioner Silver has said that one-third of teams are losing money, but he was referring to net income based on GAAP, which is how the league and its players association track profitability. Our profit estimates measure EBITDA. We also include non-basketball revenue and expenses in cases where the team or a related entity operate its arena.