NFL Franchise Values: Cowboys Top Most Valuable List Again (Updated 2023)

Sportico released their list of NFL franchise values. Which franchises sit at the top, and which lay at the bottom?

Using updated 2023 NFL valuations from Forbes ahead of the season, we can see which NFL franchises are the most valuable heading into the upcoming season. These numbers now give us a good snapshot of where things currently stand.

NFL Franchise Values in 2023

Which NFL franchise valuations increased the most in 2023? Owning an NFL team is a very profitable endeavor — only one club failed to realize a 10+% increase over the past year.

All values as of August 30 is according to Forbes.

  • 32) Cincinnati Bengals
    Value: $3.5 billion | 17% increase
  • 31) Detroit Lions
    Value: $3.6 billion | 18% increase
  • 30) Buffalo Bills
    Value: $3.7 billion | 9% increase
  • 29) Arizona Cardinals
    Value: $3.8 billion | 16% increase
  • 28) Jacksonville Jaguars
    Value: $4 billion | 15% increase
  • 27) New Orleans Saints
    Value: $4.08 billion | 14% increase
  • 26) Carolina Panthers
    Value: $4.1 billion | 14% increase
  • 25) Los Angeles Chargers
    Value: $4.15 billion | 7% increase
  • 24) Tampa Bay Buccaneers
    Value: $4.2 billion | 14% increase
  • 23) Kansas City Chiefs
    Value: $4.3 billion | 16% increase
  • 22) Indianapolis Colts
    Value: $4.35 billion | 14% increase
  • 21) Tennessee Titans
    Value: $4.37 billion | 33% increase
  • 20) Green Bay Packers
    Value: $4.6 billion | 8% increase
  • 19) Cleveland Browns
    Value: $4.62 billion | 20% increase
  • 18) Pittsburgh Steelers 
    Value: $4.63 billion | 16% increase
  • 17) Baltimore Ravens
    Value: $4.63 billion | 19% increase
  • 16) Minnesota Vikings
    Value: $4.65 billion | 18% increase
  • 15) Atlanta Falcons
    Value: $4.7 billion | 18% increase
  • 14) Seattle Seahawks
    Value: $5 billion | 11% increase
  • 13) Denver Broncos
    Value: $5.1 billion | 10% increase
  • 12) Houston Texans
    Value: $5.5 billion | 17% increase
  • 11) Miami Dolphins
    Value: $5.7 billion | 24% increase
  • 10) Philadelphia Eagles
    Value: $5.8 billion | 18% increase
  • 9) San Francisco 49ers
    Value: $6 billion | 15% increase
  • 8) Washington Commanders
    Value: $6.05 billion | 8% increase
  • 7) New York Jets
    Value: $6.1 billion | 13% increase
  • 6) Las Vegas Raiders
    Value: $6.2 billion | 22% increase
  • 5) Chicago Bears
    Value: $6.3 billion | 9% increase
  • 4) New York Giants
    Value: $6.8 billion | 13% increase
  • 3) Los Angeles Rams
    Value: $6.94 billion | 11% increase
  • 2) New England Patriots
    Value: $7 billion | 9% increase
  • 1) Dallas Cowboys
    Value: $9 billion | 13% increase

Dallas Cowboys Franchise Valued the Most at $9.2 Billion

You’re probably not surprised about the team at the top of the list. The Dallas Cowboys have owned the NFL’s highest valuation for 15 straight seasons. If anything, the Cowboys are only increasing the gap between themselves and second place.

Last year, the delta between the Cowboys at No. 1 and the Patriots at No. 2 was $1.6 billion. This season, that difference has increased to more than $2 billion.

The Cowboys’ continued growth demonstrates that NFL franchise values can continue to grow even as teams lack playoff success. This year, Dallas was once again eliminated in the Divisional Round by the San Francisco 49ers. Luckily, the team was at least able to notch one playoff win over the Tampa Bay Buccaneers before exiting the postseason.

Raiders Witness New Growth

Meanwhile, the move to Las Vegas has certainly helped the Raiders, whose franchise valuation increased by 41% year over year. And, the Silver and Black are just outside of the top five in league’s most valuable franchises.

Which NFL Franchise Has the Lowest Value?

While the Bengals’ franchise value went up over the past year, they’re still at the bottom of the rankings. Cincinnati, now valued at below $4 billion, comes in just below the Detroit Lions.

The Bengals came in at the bottom of NFL franchise valuations in both 2020 and 2022. The Buffalo Bills held that infamous honor in 2021.

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