The NFL is a business, and business is booming.
Still, not every team brings in the same kind of money or is worth the same kind of money.
Several recent sales have raised the bar for how much a franchise costs. The Buffalo Bills (2014), Carolina Panthers (2018) and Denver Broncos (2022) each set then-record prices when new owners took over. That trend continued in 2023 with the Washington Commanders, as a group led by Josh Harris took the reins from Dan Snyder. The $6.05 billion sale is the richest in North American sports history, but it was not enough to make Washington the most valuable franchise in the NFL.
Forbes unveiled its NFL franchise valuations ahead of the 2023 season. Here’s a look at where each team ranks.
Which NFL team is the most valuable?
The Dallas Cowboys are listed as the most valuable NFL franchise for the 15th straight season.
Get Tri-state area news delivered to your inbox. Sign up for NBC New York's News Headlines newsletter.
Forbes lists the Cowboys’ value at $9 billion, a full $1 billion up from the 2022 valuation and $2 billion more than any other NFL franchise.
NFL
The New England Patriots ($7 billion), Los Angeles Rams ($6.9 billion), New York Giants ($6.8 billion) and Chicago Bears ($6.3 billion) round out the top five and are in the same respective spots they held in Forbes’ 2022 valuation.
Which NFL team is the least valuable?
While the Cowboys have been at the top for over a decade, the Cincinnati Bengals are at the opposite end of the scale.
With a Super Bowl berth in 2021 and an AFC Championship Game appearance in 2022, the Bengals’ future is bright even though the team is valued at a league-lowest $3.5 billion. They have an electric young QB-WR duo with Joe Burrow and Ja’Marr Chase, and the franchise’s value should only increase if it stays a perennial contender.
The other teams at the bottom of the list include the Detroit Lions ($3.6 billion), Buffalo Bills ($3.7 billion), Arizona Cardinals ($3.8 billion) and Jacksonville Jaguars ($4 billion).
Full NFL franchise values for 2023
After giving you a taste of the most and least valuable teams, here’s a look at the full ranking from first through 32nd:
- Dallas Cowboys, $9 billion
- New England Patriots, $7 billion
- Los Angeles Rams, $6.9 billion
- New York Giants, $6.8 billion
- Chicago Bears, $6.3 billion
- Las Vegas Raiders, $6.2 billion
- New York Jets, $6.1 billion
- Washington Commanders, $6.05 billion
- San Francisco 49ers, $6 billion
- Philadelphia Eagles, $5.8 billion
- Miami Dolphins, $5.7 billion
- Houston Texans, $5.5 billion
- Denver Broncos, $5.1 billion
- Seattle Seahawks, $5 billion
- Atlanta Falcons, $4.7 billion
- Minnesota Vikings, $4.65 billion
- Baltimore Ravens, $4.63 billion
- Pittsburgh Steelers, $4.63 billion
- Cleveland Browns, $4.62 billion
- Green Bay Packers, $4.6 billion
- Tennessee Titans, $4.4 billion
- Indianapolis Colts, $4.35 billion
- Kansas City Chiefs, $4.3 billion
- Tampa Bay Buccaneers, $4.2 billion
- Los Angeles Chargers, $4.15 billion
- Carolina Panthers, $4.1 billion
- New Orleans Saints, $4.08 billion
- Jacksonville Jaguars, $4 billion
- Arizona Cardinals, $3.8 billion
- Buffalo Bills, $3.7 billion
- Detroit Lions, $3.6 billion
- Cincinnati Bengals, $3.5 billion
