NFL Franchise Values: Cowboys Top Most Valuable List Again (Updated 2023) (2024)

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.