The Dallas Cowboys are again far and away the most valuable franchise in the NFL. In its annual NFL team valuation, Forbes determined that the Cowboys are worth $5.5 billion, $1.4 billion more than the next closest franchise. This marks the 13th consecutive year that America’s Team has clocked in as America’s most valuable team.
Past success may increase the value of a franchise. Each of the eight most valuable franchises have won at least one Super Bowl, and four of the top five have multiple titles.
On the other hand, there are only two teams that are worth less than $2 billion — the Buffalo Bills and the Detroit Lions. Neither of these teams has ever won a Super Bowl and their fanbases have likely been disillusioned by years of futility. These are the 25 hardest teams to root for.
Forbes ranks teams based on their equity, debts, purchase or investment offers, stadium value, revenue, and operating income. Some owners relocate their teams in search of a better deal for a new stadium, which can significantly increase a franchise’s value.
In fact, three different franchises — the Rams, Raiders, and Chargers — are in the process of relocating. The Rams and Chargers moved from St. Louis and San Diego, respectively, to Los Angeles. There, they will share a new stadium complex worth around $5 billion that is slated to open in 2020. Both are playing in temporary homes while their new stadium is built.
As those teams finalize their move to California, the Raiders are leaving it. The Raiders’ 2019 season will be their last in the Oakland area before they decamp for Las Vegas. The new Raiders’ stadium will be worth close to $2 billion, and presumably will add value to the franchise.
Dallas’ value is bolstered by its home, AT&T Stadium. The state-of-the-art arena, constructed in 2009, cost over $1 billion to build, according to ESPN, making it one of the most valuable sporting venues in existence. These are the most expensive stadiums in the world.