What do you consider a 'small market' team?
TV market size or ownership value?
Because 0f the last 10 years winners, Denver, Golden State, Bucks, Vomit Stains, Raptors, Warriors, Warriors, Cavs, Warriors and Spurs.
I think you could only argue that the Bucks and Spurs were a "small market" team (based on tv market size).
Bucks being 38, and Spurs 31 (conversely, Portland is 22).
Cleveland is 19, Denver is 16, G-state is 10 and Vomit Stain is #2 (not sure where Toronto ranks tbh).
And if you were to go by the last 10 Champions (as in no repeats)
Denver 16
Golden State 10
Bucks 38
Vomit Stains 2
Raptors N/A
Cavs 19
Spurs 31
Miami 18
Dallas 5
Boston 9
With their market size being listed next to their names.
All but 2 of them are better markets than Portland.