The average NFL franchise has increased in value by 24 percent over the past 12 months reaching $5.14 billion.

Collectively, the NFL’s 32 teams are worth $165 billion, including team-related business and real estate held by owners.

The Dallas Cowboys rank first in the NFL and across all sports leagues globally at $9.2 billion. The Cowboys had an operating profit of $460 million in 2022.

The New York Giants and Los Angeles Rams rank second and third at $7.04 billion and $6.98 billion respectively. The New England Patriots and San Francisco 49ers round out the top-5.