Forbes list of the most valuable NFL teams

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Flagbearers of the Dallas Cowboys, the most valuable NFL team as of the 2020 NFL season.

Forbes compiles the finances of all 32 NFL teams to produce an annual ranking of the best franchises in terms of valuation. The valuations are composed of the monetary worth of the sport, market, stadium deals, and brand.[1] These areas are supported by applying financial metrics such as debt and operating income to each one.[2]

The latest ranking reported that the Dallas Cowboys is the most valuable NFL franchise after the 2022 NFL season.[3] The fastest growing NFL franchise is the Las Vegas Raiders, with a 114% increase in valuation since the 2018 NFL season ($2.9 to $6.2 billion).[4][5] The Cowboys have held the title for the highest valuation since the 2007 NFL season, two seasons after the ranking began publishing.[6]

Several media outlets have referenced in related news or conducts analytic journalism when the ranking comes out, such as CBS and Sports Illustrated.[7][8] The NFL has recognized the annual ranking for the first time after the rendition based on the 2014 NFL season.[9] The report has also applied more context to NFL trends, such as the financial impact of Tom Brady signing with the Tampa Bay Buccaneers.[10] The signage has widely contributed to the franchise being the fastest growing within a year, with 29% as its 1-year increase from 2019 ($2.3 billion) to 2020 ($2.94 billion).[11]

Ranking[edit]

Rankings as of August 30, 2023 (2021 NFL season)[2]

Rank Swing[a] Team Territory Value[b] Change[c] Debt[d] Revenue[e] Operating Income[f]
#1 Steady Dallas Cowboys  Texas $9 billion Increase 64% 3% $1.135 billion $504 million
#2 Steady New England Patriots  Massachusetts $7 billion Increase 71% 4% $684 million $206 million
#3 Increase 1 Los Angeles Rams  California $6.9 billion Increase 82% 46% $686 million $125 million
#4 Decrease 1 New York Giants  New Jersey $6.8 billion Increase 74% 7% $639 million $216 million
#5 Increase 1 Chicago Bears  Illinois $6.3 billion Increase 83% 2% $556 million $203 million
#6 Increase 6 Las Vegas Raiders  Nevada $6.2 billion Increase 114% 22% $729 million $72 million
#7 Increase 1 New York Jets  New Jersey $6.1 billion Increase 91% 9% $560 million $126 million
#8 Decrease 1 Washington Commanders  Washington, D.C. $6.05 billion Increase 78% 17% $545 million $87 million
#9 Decrease 4 San Francisco 49ers  California $6 billion Increase 71% 5% $622 million $152 million
#10 Steady Philadelphia Eagles  Pennsylvania $5.8 billion Increase 90% 3% $598 million $187 million
#11 Increase 5 Miami Dolphins  Florida $5.7 billion Increase 107% 11% $600 million $111 million
#12 Decrease 3 Houston Texans  Texas $5.5 billion Increase 77% 0% $605 million $195 million
#13 Decrease 2 Denver Broncos  Colorado $5.1 billion Increase 70% 4% $563 million $103 million
#14 Increase 1 Seattle Seahawks  Washington $5 billion Increase 80% 4% $555 million $89 million
#15 Increase 2 Atlanta Falcons  Georgia $4.7 billion Increase 71% 20% $544 million $159 million
#16 Increase 3 Minnesota Vikings  Minnesota $4.65 billion Increase 72% 12% $540 million $99 million
#17 Increase 1 Baltimore Ravens  Maryland $4.63 billion Increase 68% 6% $544 million $108 million
#18 Decrease 4 Pittsburgh Steelers  Pennsylvania $4.625 billion Increase 65% 4% $548 million $96 million
#19 Increase 9 Cleveland Browns  Ohio $4.62 billion Increase 112% 11% $545 million $104 million
#20 Decrease 7 Green Bay Packers  Wisconsin $4.6 billion Increase 61% 2% $577 million $69 million
#21 Increase 8 Tennessee Titans  Tennessee $4.4 billion Increase 105% 10% $516 million $85 million
#22 Decrease 1 Indianapolis Colts  Indiana $4.35 billion Increase 64% 9% $545 million $101 million
#23 Increase 1 Kansas City Chiefs  Missouri $4.3 billion Increase 87% 2% $540 million $95 million
#24 Increase 3 Tampa Bay Buccaneers  Florida $4.2 billion Increase 91% 4% $531 million $64 million
#25 Decrease 4 Los Angeles Chargers  California $4.15 billion Increase 66% 19% $518 million $65 million
#26 Decrease 4 Carolina Panthers  North Carolina $4.1 billion Increase 71% 5% $530 million $72 million
#27 Decrease 2 New Orleans Saints  Louisiana $4.075 billion Increase 79% 6% $533 million $66 million
#28 Decrease 5 Jacksonville Jaguars  Florida $4 billion Increase 72% 8% $517 million $110 million
#29 Decrease 3 Arizona Cardinals  Arizona $3.8 billion Increase 69% 4% $500 million $83 million
#30 Increase 2 Buffalo Bills  New York $3.7 billion Increase 95% 11% $503 million $119 million
#31 Steady Detroit Lions  Michigan $3.6 billion Increase 85% 6% $495 million $51 million
#32 Decrease 2 Cincinnati Bengals  Ohio $3.5 billion Increase 75% 4% $498 million $104 million

Composition[edit]

A pie chart that represents the composition of valuation for the average NFL team.

  Sport (69.1%)
  Market (13.6%)
  Stadium (11.2%)
  Brand (6.1%)
Team[g] Value[b] Sport[h] Market[i] Stadium[j] Brand[k]
Dallas Cowboys $8 billion $2.967 billion $1.814 billion $1.648 billion $1.570 billion
New England Patriots $6.4 billion $3.550 billion $1.201 billion $1.018 billion $0.631 billion
Los Angeles Rams $6.2 billion $3.563 billion $1.067 billion $4.160 billion $0.424 billion
New York Giants $6 billion $3.712 billion $1.003 billion $0.829 billion $0.456 billion
Chicago Bears $5.8 billion $4.025 billion $0.860 billion $0.576 billion $0.339 billion
Washington Commanders $5.6 billion $3.720 billion $0.846 billion $0.699 billion $0.335 billion
New York Jets $5.4 billion $3.757 billion $0.729 billion $0.603 billion $0.311 billion
San Francisco 49ers $5.2 billion $3.266 billion $0.921 billion $0.686 billion $0.326 billion
Las Vegas Raiders $5.1 billion $3.273 billion $0.742 billion $2.000 billion $0.405 billion
Philadelphia Eagles $4.9 billion $3.234 billion $0.732 billion $0.599 billion $0.335 billion
Houston Texans $4.7 billion $2.971 billion $0.775 billion $0.636 billion $0.318 billion
Denver Broncos $4.65 billion $3.195 billion $0.692 billion $0.469 billion $0.294 billion
Miami Dolphins $4.6 billion $3.116 billion $0.556 billion $0.689 billion $0.239 billion
Seattle Seahawks $4.5 billion $3.138 billion $0.599 billion $0.478 billion $0.285 billion
Green Bay Packers $4.25 billion $2.828 billion $0.605 billion $0.445 billion $0.372 billion
Atlanta Falcons $4 billion $2.856 billion $0.476 billion $0.401 billion $0.267 billion
Pittsburgh Steelers $3.975 billion $2.908 billion $0.514 billion $0.390 billion $0.163 billion
Minnesota Vikings $3.925 billion $2.834 billion $0.504 billion $0.375 billion $0.213 billion
Baltimore Ravens $3.9 billion $2.752 billion $0.534 billion $0.388 billion $0.225 billion
Los Angeles Chargers $3.875 billion $2.850 billion $0.491 billion $0.350 billion $0.184 billion
Cleveland Browns $3.85 billion $2.728 billion $0.526 billion $0.395 billion $0.201 billion
Indianapolis Colts $3.8 billion $2.839 billion $0.447 billion $0.333 billion $0.182 billion
Kansas City Chiefs $3.7 billion $2.700 billion $0.441 billion $0.387 billion $0.173 billion
Tampa Bay Buccaneers $3.675 billion $2.699 billion $0.422 billion $0.397 billion $0.158 billion
Carolina Panthers $3.6 billion $2.593 billion $0.453 billion $0.384 billion $0.170 billion
New Orleans Saints $3.575 billion $2.635 billion $0.421 billion $0.362 billion $0.157 billion
Tennessee Titans $3.5 billion $2.630 billion $0.405 billion $0.328 billion $0.136 billion
Jacksonville Jaguars $3.475 billion $2.662 billion $0.332 billion $0.343 billion $0.138 billion
Buffalo Bills $3.4 billion $2.615 billion $0.354 billion $0.297 billion $0.134 billion
Arizona Cardinals $3.27 billion $2.528 billion $0.335 billion $0.247 billion $0.160 billion
Detroit Lions $3.05 billion $2.435 billion $0.289 billion $0.194 billion $0.131 billion
Cincinnati Bengals $3 billion $2.346 billion $0.316 billion $0.214 billion $0.124 billion

Historical valuations[edit]

Historical valuations (in US$ millions) by NFL team[g]
Team 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Dallas Cowboys 8,000 6,500 5,700 5,500 5,000 4,800 4,200 4,000 3,200 2,300
New England Patriots 6,400 5,000 4,400 4,100 3,800 3,700 3,400 3,200 2,600 1,800
Los Angeles Rams 6,200 4,800 4,000 3,800 3,200 3,000 2,900 1,500 930 875
New York Giants 6,000 4,850 4,300 3,900 3,300 3,300 3,100 2,800 2,100 1,600
Chicago Bears 5,800 4,075 3,500 3,500 2,900 2,900 2,700 2,500 1,700 1,300
Washington Commanders 5,600 4,200 3,500 3,400 3,100 3,100 3,000 2,900 2,400 1,700
New York Jets 5,400 4,050 3,600 3,200 2,900 2,800 2,800 2,600 1,800 1,400
San Francisco 49ers 5,200 4,175 3,800 3,500 3,100 3,100 3,000 2,700 1,600 1,200
Las Vegas Raiders 5,100 3,415 3,100 2,900 2,400 2,400 2,100 1,400 970 825
Philadelphia Eagles 4,900 3,800 3,400 3,100 2,800 2,700 2,500 2,400 1,800 1,300
Houston Texans 4,700 3,700 3,300 3,100 2,800 2,800 2,600 2,500 1,900 1,500
Denver Broncos 4,650 3,750 3,200 3,000 2,700 2,600 2,400 1,900 1,500 1,200
Miami Dolphins 4,600 3,420 2,900 2,800 2,600 2,600 2,400 1,900 1,300 1,100
Seattle Seahawks 4,500 3,500 3,100 2,800 2,600 2,400 2,200 1,900 1,300 1,100
Green Bay Packers 4,250 3,475 3,100 2,900 2,600 2,600 2,400 2,000 1,400 1,200
Atlanta Falcons 4,000 3,200 2,900 2,800 2,600 2,500 2,100 1,700 1,100 933
Pittsburgh Steelers 3,975 3,430 3,000 2,800 2,600 2,500 2,300 1,900 1,400 1,100
Minnesota Vikings 3,925 3,350 3,000 2,700 2,400 2,400 2,200 1,600 1,200 1,000
Baltimore Ravens 3,900 3,400 3,000 2,800 2,600 2,500 2,300 1,900 1,500 1,200
Los Angeles Chargers 3,875 2,920 2,600 2,500 2,300 2,300 2,100 1,500 995 949
Cleveland Browns 3,850 2,600 2,400 2,200 2,000 2,000 1,900 1,500 1,100 1,000
Indianapolis Colts 3,800 3,250 2,900 2,700 2,400 2,400 2,200 1,900 1,400 1,200
Kansas City Chiefs 3,700 2,930 2,500 2,300 2,100 2,100 1,900 1,500 1,100 1,000
Tampa Bay Buccaneers 3,675 2,940 2,300 2,200 2,000 2,000 1,800 1,500 1,200 1,100
Carolina Panthers 3,600 2,910 2,600 2,400 2,300 2,300 2,100 1,600 1,300 1,100
New Orleans Saints 3,575 2,825 2,500 2,300 2,100 2,000 1,800 1,500 1,100 1,000
Tennessee Titans 3,500 2,625 2,300 2,200 2,100 2,100 2,000 1,500 1,200 1,100
Jacksonville Jaguars 3,475 2,800 2,500 2,300 2,100 2,100 2,000 1,500 965 840
Buffalo Bills 3,400 2,270 2,100 1,900 1,600 1,600 1,500 1,400 935 870
Arizona Cardinals 3,270 2,650 2,300 2,300 2,200 2,200 2,000 1,500 1,000 961
Detroit Lions 3,050 2,400 2,100 2,000 1,700 1,700 1,700 1,400 960 900
Cincinnati Bengals 3,000 2,275 2,000 2,000 1,800 1,800 1,700 1,400 990 924

Notes[edit]

  1. ^ Movement of spots in the ranking from the 2017 NFL season to the 2021 NFL season.
  2. ^ a b Value of team (in U.S. dollars) based on current stadium deal (unless new stadium is pending), without deduction for debt (other than stadium debt).
  3. ^ Change of valuation from the 2016 NFL season to the 2020 NFL season.
  4. ^ Expressed as the percentage of valuation that is debt. Includes stadium debt.
  5. ^ Revenue in dollars.
  6. ^ Earnings (in dollars) before interest, taxes, depreciation and amortization.
  7. ^ a b Financial data taken from each team profile on Forbes.
  8. ^ Portion of franchise's value attributable to revenue shared among all teams.
  9. ^ Portion of franchise's value attributable to its city and market size.
  10. ^ Portion of franchise's value attributable to its arena.
  11. ^ Portion of franchise's value attributable to its brand.

See also[edit]

References[edit]

  1. ^ "Dallas Cowboys Profile". Forbes. Retrieved 27 March 2022.
  2. ^ a b "The NFL's Most Valuable Teams (2023)". Forbes. Retrieved 23 August 2022.
  3. ^ "The Business of Football List". Forbes. Retrieved 27 March 2022.
  4. ^ "The NFL's Most Valuable Teams 2019: Cowboys Lead League At $5.5 Billion". Forbes. Retrieved 1 October 2023.
  5. ^ "Las Vegas Raiders Forbes Profile". Forbes. Retrieved 1 October 2023.
  6. ^ "Most Valuable NFL Teams 2005/2021". YouTube. Retrieved 27 March 2022.
  7. ^ "Most valuable NFL franchises revealed". CBS. Retrieved 27 March 2022.
  8. ^ "How much are NFL teams worth?". Sports Illustrated. Retrieved 27 March 2022.
  9. ^ "The most valuable NFL franchises according to Forbes". NFL. Retrieved 27 March 2022.
  10. ^ "Tom Brady Won't Retire From NFL Without A Mighty Stiff Arm". Forbes. Retrieved 27 March 2022.
  11. ^ "Tampa Bay Buccaneers Profile". Forbes. Retrieved 27 March 2022.