The Dallas Cowboys remain the NFL’s most valuable franchise in 2026, leading a historic surge in team valuations that has pushed the average NFL club above $9 billion.
According to Sportico’s latest NFL franchise valuations, the Cowboys are now worth an estimated $15.5 billion, a 21% increase from last year. Dallas sits comfortably ahead of the Los Angeles Rams and New York Giants as NFL franchise values continue climbing at a remarkable pace.
Across the league, the average NFL team is now valued at approximately $9.34 billion, up 31% year-over-year. The 32 franchises are collectively worth an estimated $299 billion, including team-related real estate and business operations.
Top 10 Most Valuable NFL Teams in 2026
Here are Sportico’s 10 most valuable NFL franchises and their one-year changes in value:
- Dallas Cowboys — $15.5 billion (+21%)
- Los Angeles Rams — $12.7 billion (+22%)
- New York Giants — $12 billion (+17%)
- New England Patriots — $10.4 billion (+19%)
- New York Jets — $10.35 billion (+28%)
- Philadelphia Eagles — $10.31 billion (+22%)
- Miami Dolphins — $10.25 billion (+24%)
- San Francisco 49ers — $10.21 billion (+19%)
- Las Vegas Raiders — $10.1 billion (+28%)
- Atlanta Falcons — $9.78 billion (+39%)
The Falcons recorded the largest one-year percentage increase among the top 10 at 39%, while the Jets and Raiders each jumped 28%.
Cowboys Remain the NFL’s Most Valuable Franchise
Dallas has now ranked as Sportico’s most valuable NFL team for seven consecutive years.
The Cowboys’ $15.5 billion valuation is supported by a financial operation that extends well beyond football. Dallas generates approximately $1.3 billion in annual revenue, making it one of the highest-revenue sports franchises in the world.
The Cowboys also generate roughly $300 million annually through sponsorship agreements and nearly $200 million from merchandise. Unlike the NFL’s other 31 franchises, Dallas operates outside the league’s shared merchandise system.
Its enormous local revenue, sponsorship portfolio, merchandise operation and businesses connected to The Star development in Frisco have helped separate the Cowboys financially from the rest of the NFL.
Rams and Giants Join Cowboys Above $12 Billion
The Los Angeles Rams rank second at $12.7 billion, representing a 22% increase from last year.
SoFi Stadium has become a major component of the Rams’ business operation. Beyond hosting NFL games, the stadium generates significant revenue through concerts and other major entertainment events.
The New York Giants rank third at $12 billion, up 17%.
That leaves Dallas, Los Angeles and New York as the only three NFL franchises currently valued at $12 billion or more in Sportico’s rankings.
Jets Jump Into the Top Five
One of the biggest moves in the rankings belongs to the New York Jets.
The Jets climbed three positions to No. 5 with a valuation of $10.35 billion, an increase of 28%.
The Jets now sit just behind the New England Patriots, who are valued at $10.4 billion.
Philadelphia, Miami, San Francisco and Las Vegas are also above the $10 billion threshold.
Falcons Record Biggest Increase Among Top 10
The Atlanta Falcons climbed three positions to enter the top 10 with a valuation of $9.78 billion.
Atlanta’s valuation increased an impressive 39% in one year, the largest percentage gain among the 10 most valuable NFL franchises.
The Falcons also benefit from Mercedes-Benz Stadium’s ability to generate revenue beyond NFL games through concerts, soccer and other major events.
Even the NFL’s Least Valuable Team Is Worth $7.4 Billion
Perhaps the strongest demonstration of the NFL’s financial dominance comes from the bottom of the rankings.
The Cincinnati Bengals remain No. 32, a position they have held for seven consecutive years, but the franchise is still valued at approximately $7.4 billion.
Despite playing in a smaller market, operating in an older stadium and generating relatively low local revenue, Cincinnati is worth more than all but six professional sports franchises outside the NFL.
All 32 NFL franchises rank among the world’s 40 most valuable sports teams, according to Sportico.
Seahawks Sale Shows How Expensive NFL Teams Have Become
NFL valuations received another major boost with the agreement for tech billionaire Vinod Khosla and his family to purchase the Seattle Seahawks at an enterprise value of $9.612 billion.
The proposed transaction demonstrates how dramatically NFL acquisition multiples have increased.
David Tepper paid approximately six times annual revenue when purchasing the Carolina Panthers in 2018. The Denver Broncos commanded roughly nine times revenue in 2022, while the Washington Commanders reached approximately 11 times revenue in 2023.
The Seahawks transaction represents approximately 13.6 times Seattle’s 2025 revenue of slightly more than $700 million.
Why NFL Teams Keep Getting More Valuable
Scarcity is one of the biggest factors driving NFL franchise prices higher.
There are only 32 teams, NFL franchises rarely become available for purchase, and the league currently has no plans for expansion.
At the same time, the number of billionaires and investment groups capable of purchasing minority interests in NFL teams continues to grow.
The NFL’s decision to permit limited institutional investment has also opened another source of capital. Private-equity firm Arctos Partners, for example, has acquired interests in the Cleveland Browns, Buffalo Bills and Los Angeles Chargers.
Minority stakes in franchises including the Giants, Patriots, 49ers, Dolphins and Raiders have also been sold at massive implied valuations.
NFL Revenue Continues to Grow
NFL teams generated an estimated $23.5 billion in combined revenue last year, representing a 5.9% increase.
National revenue exceeded $450 million per franchise, largely fueled by the league’s enormous national media agreements.
Those shared revenues give every NFL franchise a substantial financial foundation regardless of market size, helping explain why even teams near the bottom of the valuation rankings are worth billions.
The league is ultimately moving toward approximately $30 billion in annual revenue, with future growth expected from media rights, international expansion, new stadiums and potentially an expanded regular-season schedule.
New NFL Stadiums Could Push Values Even Higher
Stadium development represents another major opportunity for NFL teams to increase local revenue.
New or planned stadium projects include facilities for the Buffalo Bills, Tennessee Titans, Cleveland Browns, Washington Commanders and Kansas City Chiefs.
The Jaguars and Panthers are also undertaking major stadium renovations, while Chicago and Denver continue exploring future stadium options.
Modern NFL stadiums are increasingly designed as year-round entertainment businesses capable of hosting concerts, college football, international soccer and other major events.
NFL Franchise Values Show No Signs of Slowing Down
NFL franchise valuations have increased 141% over the past five years, and the latest rankings illustrate how dramatically the financial landscape of professional football has changed.
The Cowboys remain comfortably at No. 1 at $15.5 billion, but nine of the league’s 10 most valuable franchises are now approaching or exceeding $10 billion.
With limited opportunities to purchase teams, massive national television revenue, new stadium developments and continued growth internationally, NFL franchises could become even more valuable in the years ahead.
For now, the Dallas Cowboys remain the NFL’s financial standard, while the league as a whole continues widening its advantage as one of the most valuable collections of sports properties in the world.