Dallas Cowboys reach record $12.5bn valuation as average NFL team worth hits $7.65bn
An 18 per cent surge in average franchise values pushes 11 American football teams past the $8 billion mark, according to new figures.
The Dallas Cowboys have retained their status as the most valuable franchise in the National Football League, reaching a record valuation of $12.5 billion (£9.6 billion) in 2025, according to CNBC’s Official NFL Team Valuations.
The valuation comes as the average worth of an NFL franchise rose 18 per cent year-on-year to $7.65 billion, CNBC reported. A total of 11 franchises in the 32-team league are now valued at $8 billion or more, compared to just two teams reaching that threshold in 2024.
The Los Angeles Rams were ranked as the second-most-valuable franchise in the league, carrying an estimated valuation of $10.7 billion, according to CNBC's calculations.
Stadium Revenues and Commercial Growth
The financial performance of top-tier franchises continues to be driven by big-market economics and venue-generated income. The Dallas Cowboys recorded the highest overall revenue in the league at $1.27 billion, CNBC reported.
Commercial partnerships formed a significant portion of that income. The Cowboys generated approximately $300 million in sponsorship revenue in 2024, representing the highest figure in the league, according to a person familiar with the matter who spoke to CNBC on condition of anonymity.
The Los Angeles Rams collected nearly $250 million in sponsorship revenue over the same period, placing them second in the league for commercial receipts, according to a separate source familiar with the figures.
Across the league, average team revenue for the 2024 season increased by 7.3 per cent year-on-year to $687 million, according to CNBC's calculations. Average earnings before interest, taxes, depreciation and amortization (EBITDA) rose 7.9 per cent to $137 million.
Media Rights Drive League-Wide Value
The financial baseline for all 32 teams continues to be supported by equal distributions of national revenue, which includes centralized media rights, licensing, and national sponsorships.
National revenue distributions rose to an average of $433 million per team for the 2024 season, up from $403 million the previous year, according to league executives cited by CNBC.
The NFL's broad financial strength remains anchored by its long-term broadcast agreements. According to CNBC, the league's collective media rights deals generate $12.4 billion annually.
The expansion of team valuations reflects broader institutional demand for major American sports properties, with international media rights and modernized stadium infrastructure continuing to boost commercial returns across the league. All 32 franchises are expected to review local commercial operations ahead of the next financial reporting cycle.
