Thanks to some pricey TV deals, relocation and brand-new stadiums, the NFL has never been more valuable. And that goes for franchises, too. According to Forbes’s annual list, NFL team values have soared 19 percent, to an average of $2.34 billion. We’ve listed the 20 most valuable teams in the league.
Despite generating the lowest revenue in the league in 2015, the Raiders’ value grew 47 percent in 2016. With a move to either Las Vegas or Los Angeles on the horizon, the Raiders’ future value should continue to rise.
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19. Atlanta Falcons, $2.13 billion
With the new, $1.5 billion Mercedes-Benz Stadium opening in Atlanta next year, the Falcons’ value has jumped to $2.13 billion, a 27 percent increase from 2015.
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18. Indianapolis Colts, $2.18 billion
Forty-four years after his family purchased the franchise for $19 million, Jim Irsay’s Colts are now valued at more than $2 billion. That’s up from an estimated worth of $1.8 billion on Forbes’ 2015 list.
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17. Minnesota Vikings, $2.2 billion
With the opening of a new, $1.1 billion stadium, the Vikings’ franchise value skyrocketed 38 percent this year, to $2.2 billion.
16. Seattle Seahawks, $2.23 billion
Even with one of the most successful teams in the NFL, the Seahawks remain in the middle of the pack when it comes to franchise valuations around the league. In 2015, Seattle reportedly made $377 million in revenue.
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15. Pittsburgh Steelers, $2.25 billion
The Steelers made a big jump in valuation from $1.9 billion to $2.25 billion. Even with that increase, the Steelers still dropped two spots on the list.
14. Baltimore Ravens, $2.3 billion
The Ravens cracked the $2 billion mark in valuation for the first time this year. But Baltimore still dropped from the 12th most valuable franchise to 14th on the Forbes list.
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13. Green Bay Packers, $2.35 billion
Even with an increase in value from $1.95 billion to $2.35 billion, the Packers—in the NFL’s smallest media market—dropped from 10th to 13th place on Forbes’ 2016 list.
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12. Miami Dolphins, $2.38 billion
The Dolphins’ recent renovation of the newly-named Hard Rock Stadium has helped to boost the franchise’s valuation to $2.38 billion.
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11. Denver Broncos, $2.4 billion
The defending Super Bowl champions’ value jumped 25 percent this year, to $2.4 billion. Despite the increased valuation, the Broncos held their No. 11 ranking on Forbes’ list.
10. Philadelphia Eagles, $2.5 billion
The Eagles have turned it around on the field with rookie QB Carson Wentz. Off the field, Philadelphia is the tenth most valuable franchise in the league, with 2015 revenue of $407 million.
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9. Houston Texans, $2.6 billion
The Texans will probably never be valued higher than their in-state rival, the Cowboys, but Houston still cracks the top 10.
8. Chicago Bears, $2.7 billion
The Bears are routinely one of the most popular NFL teams every year. Chicago made $385 million in 2015 revenue, and it could rise in value with an amended lease with the city that gives the Bears the option to sell advertising at Soldier Field for $4 million annually.
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7. New York Jets, $2.75 billion
The Jets are the second most valuable franchise in New York, at $2.75 billion. Despite struggling this year, the Jets are projected to earn $423 million in revenue.
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6. Los Angeles Rams, $2.9 billion
After moving from St. Louis, the Rams doubled in value, to $2.9 billion. With a $3 billion stadium on the way in 2019, the Rams’ franchise will surely rise to the $4 billion range by the end of the decade, Forbes predicts.
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5. Washington Redskins, $2.95 billion
Although the team’s stadium opened in 1997, Washington is already in discussions for a new one, which would raise the franchise’s value even higher than its nearly $3 billion mark.
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4. San Francisco 49ers, $3 billion
Since Levi’s Stadium opened in 2014, the 49ers have surged to a top-five team based on value. Although the Niners are among the worst on the field this season, the team is worth an even $3 billion, with $446 million in revenue last year.
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3. New York Giants, $3.1 billion
The Giants are based in the largest media market in the nation and have one of the most exciting talents in the game: Odell Beckham Jr. Forbes reported that the team raked in revenue of $444 million in 2015.
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2. New England Patriots, $3.4 billion
The most successful team of the last two decades is the second most valuable franchise in Forbes’ rankings. Tom Brady and Patriots’ success earned New England $523 million in revenue last year.
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1. Dallas Cowboys, $4.2 billion
The Cowboys are by far the most valuable franchise in the NFL, according to Forbes’ methodology. Arguably the most well-known team in the league, Dallas tops the rankings in part because of its state-of-the-art stadium and a new, $1.5 billion practice facility.