Full Breakdown
NFL Team Valuations Surge Amid Investor Frenzy
9/10/2026, 6:05:09 AM
Rising Valuations Across the League
CNBC’s Official NFL Team Valuations 2026 place the average franchise at $10.36 billion, a 35 % increase from the prior year. The Dallas Cowboys lead at $16 billion, followed by the Los Angeles Rams ($14.5 billion), Las Vegas Raiders ($13 billion), New York Giants ($12.5 billion) and New England Patriots ($12.25 billion). Recent high-profile sales illustrate the upward trend: the Seattle Seahawks were purchased for $9.61 billion, a record amount that exceeds the Washington Commanders’ 2023 sale price by 59 %. The Broncos, Commanders and Seahawks each fetched sale-price-to-revenue multiples of roughly 9×, 11×, and over 14×, respectively.
Shad Khan Says NFL Still Undervalued
Jacksonville Jaguars owner Shad Khan told CNBC that the league’s valuation trajectory “is almost endless.” He argues that, despite recent spikes, NFL franchises remain “greatly undervalued” compared with teams in other major sports leagues. Khan, who bought the Jaguars for $770 million in 2011, notes that the team’s current estimated value of $9.35 billion represents an 18 % annualized return and could reach $112 billion by 2041 if the same growth rate persists.
Drivers: Competitive Bidding, Media Rights, and Stadium Upgrades
The surge is fueled by several converging factors. Private-equity involvement and expanding media contracts have heightened investor appetite, while intense competition among bidders drove the Seahawks’ record price.
Stadium activity also underpins revenue growth. About one-third of the 32 franchises—including the Chicago Bears, Cincinnati Bengals, Buffalo Bills, Cleveland Browns, Kansas City Chiefs, Washington Commanders, Jacksonville Jaguars, Carolina Panthers, Baltimore Ravens and Tennessee Titans—are slated to open new or renovated venues by the late 2020s. New facilities are expected to boost premium-seating sales, sponsorships, hospitality revenue and non-NFL events.
Financial Outlook and Official Responses
A separate source familiar with league finances projects national league revenue to rise to roughly $480 million per team this season, a 6 % increase over 2025. The same source noted that the league’s average per-team revenue stands at $723 million, with EBITDA averaging $133 million.
CNBC’s methodology clarifies that valuations reflect enterprise values—equity plus net debt—derived from revenue multiples based on historic transactions, and incorporate projected stadium economics while excluding real-estate assets such as Patriot Place.
