One of the NBA’s most notable players of this past generation is Michael Jordan.  Given all the franchising opportunities and endorsements made for Michael Jordan during his involvement with the NBA gave him the $398 million net worth that he has today.  Fortune magazine estimated that Michael Jordan’s global economic impact was $10 billion.

There are also a large number of athletes that are continuously being highlighted around the league as a great opportunity to be branded by various marketing companies.  You have LeBron “King James” James, the Cleveland Cavalier that was recruited right out of high school who scored a $90 million contract from Nike.  You also have Ron Artest, the ass of the NBA, who gained a lot of publicity when assaulting Detroit Pistons fans after he was hit with a cup of beer for technically fouling Ben Wallace.  Kobe Bryant also gained publicity for being accused for sexual assault a year after him and Shaquille O’Neal lead the Los Angeles Lakes to three consecutive NBA championships.

Looking at Artest and Bryant as examples, clearly the NBA has its fair share of negative press, but the NBA realizes this.  This is why NBA is pushing for a way to influence children and networking professionals to show that they care about their brand.  This is why several teams have started their own social networks.

The most recent team to start their own social network is the Phoenix Suns.  The social network will feature a message board, user blogs, multimedia sharing, and other features according to BrightSideOfTheSun.com.  The social network will have a look & feel similar to MySpace.com.  Other features include a scavenger hunt with featured prizes and profile pages.  The social network is available at PlanetOrange.net.

The Phoenix Suns is owned by Robert Sarver, who bought the team for $401 million in 2004.  Former Phoenix Sun, Steve Nash won the NBA MVP award in the 2004-2005 season.