Sportico released its annual NFL team valuations report with the franchises valued at between 5.5 and seven times expected revenues, which for 2021 could be around $550 million.

Inner Circle Sports’ William DiBlasi explained that team values would typically include “each team’s stake in [various] league-wide assets,” including NFL Network, NFL RedZone, NFL.com and their international broadcast rights.

The NFL has been shopping a stake in NFL Network on and off for years and has been looking to find a home for Sunday Ticket for nearly as long.

The NFL has been private in terms of what its media business generates, revenue-wise, and the collective of assets has never been valued publicly. But Berke thinks the league is likely looking for a deal that “values the overall operation in the tens of billions of dollars.”