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The ownership situation in Atlanta is still a disaster, some two years after Joe Johnson made it so. Consensus opinion is that the Hawks cannot pursue major personnel moves, fire the coach or even re-sign their young stars solely because of the unsettled boardroom. And you have heard all the 'Hawks fans dressed up like empty seats tonight!' jokes you can stomach. Even with the expected upswing this year (talent can only be suppressed so long), Atlanta is not an enviable franchise.

Now what if Forbes (via Kelly Dwyer) told you the Hawks were a profitable enterprise? Not only are the Hawks profitable, in fact, but the franchise has boasted a positive net operating income in each of the past four years. And last year, the team was more profitable than 15 other franchises. And that the team's value has risen an average of 11% since the currently squabbling owners took control in 2004?

I'm no finance whiz, but it looks like Atlanta's strong corporate presence keeps the Hawks afloat with sponsorship and luxury suite dollars. (Having a low payroll and what I assume is a minimal marketing budget don't hurt, either.) If the owners would just get out of their own way, invest back into the franchise in the form of a Josh Smith contract and a new front office, and raise those disastrous gate receipts with a minty on-court product (which they are on their way towards already), this could be a good NBA franchise. Until then, it will remain a punchline... a profitable punchline, but a punchline nonetheless.