The Dallas Cowboys have once again been named the NFL's most valuable franchise, with their valuation reaching a record $15.5 billion, according to Sportico's annual NFL team valuations. This marks the seventh consecutive year the Cowboys have held the top spot.
The NFL's overall value is experiencing significant growth, with all 32 franchises now ranked among the 40 most valuable sports teams globally. The collective worth of NFL teams is estimated at nearly $300 billion, and the average team value has risen to $9.34 billion, a 31% increase from the previous year and a 141% increase over five years.
The Los Angeles Rams are the second most valuable team at $12.7 billion, benefiting from their relocation from St. Louis in 2016. The New York Giants ($12 billion), New England Patriots ($10.4 billion), and New York Jets ($10.35 billion) round out the top five.
Other teams in the top 10 include the Philadelphia Eagles, Miami Dolphins, San Francisco 49ers, Las Vegas Raiders, and Atlanta Falcons. The Falcons and Jets both climbed three spots to enter the top 10.
At the bottom of the rankings, the Cincinnati Bengals remain the least valuable franchise for the seventh straight year, valued at $7.4 billion. They are followed closely by the New Orleans Saints ($7.59 billion), Indianapolis Colts ($7.77 billion), Jacksonville Jaguars ($7.91 billion), and Arizona Cardinals ($8 billion).
Despite recent on-field success and star players like Patrick Mahomes and Travis Kelce, the Kansas City Chiefs are ranked 16th with a valuation of $8.44 billion. The Green Bay Packers experienced the largest drop in the rankings, falling four spots to 22nd.
Dallas's financial dominance is attributed to its revenue generation, which totaled $1.3 billion last year, out of the league's estimated $23.5 billion. The team's ownership of The Star in Frisco and AT&T Stadium, along with operating outside the league's shared merchandise system, contributes to its high valuation. The Cowboys' operating profits of an estimated $510 million dwarf those of the nearest competitor, the Los Angeles Rams, who reported an estimated $255 million.
Several franchises are investing in new or renovated stadiums, which could impact future valuations. The Buffalo Bills recently moved into a new $2.2 billion stadium. The Tennessee Titans have begun construction on a new Nashville stadium, and the Jacksonville Jaguars are undertaking a stadium revamp. The Kansas City Chiefs, Cleveland Browns, and Chicago Bears also have new stadium plans in development.
Teams like the Rams and Dolphins have also increased revenue through non-NFL events held at their stadiums, such as concerts and the Formula 1 Grand Prix in Miami's case.