Full 2023 NFL franchise values: Which team is worth the most?

The NFL is a business, and business is booming.

Still, not every team brings in the same kind of money or is worth the same kind of money.

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Several recent sales have raised the bar for how much a franchise costs. The Buffalo Bills (2014), Carolina Panthers (2018) and Denver Broncos (2022) each set then-record prices when new owners took over. That trend continued in 2023 with the Washington Commanders, as a group led by Josh Harris took the reins from Dan Snyder. The $6.05 billion sale is the richest in North American sports history, but it was not enough to make Washington the most valuable franchise in the NFL.

Forbes unveiled its NFL franchise valuations ahead of the 2023 season. Here’s a look at where each team ranks.

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Which NFL team is the most valuable?

The Dallas Cowboys are listed as the most valuable NFL franchise for the 15th straight season.

Forbes lists the Cowboys’ value at $9 billion, a full $1 billion up from the 2022 valuation and $2 billion more than any other NFL franchise.

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The New England Patriots ($7 billion), Los Angeles Rams ($6.9 billion), New York Giants ($6.8 billion) and Chicago Bears ($6.3 billion) round out the top five and are in the same respective spots they held in Forbes’ 2022 valuation.

Which NFL team is the least valuable?

While the Cowboys have been at the top for over a decade, the Cincinnati Bengals are at the opposite end of the scale.

With a Super Bowl berth in 2021 and an AFC Championship Game appearance in 2022, the Bengals’ future is bright even though the team is valued at a league-lowest $3.5 billion. They have an electric young QB-WR duo with Joe Burrow and Ja’Marr Chase, and the franchise’s value should only increase if it stays a perennial contender.

The other teams at the bottom of the list include the Detroit Lions ($3.6 billion), Buffalo Bills ($3.7 billion), Arizona Cardinals ($3.8 billion) and Jacksonville Jaguars ($4 billion).

Full NFL franchise values for 2023

After giving you a taste of the most and least valuable teams, here’s a look at the full ranking from first through 32nd:

1. Dallas Cowboys, $9 billion
2. New England Patriots, $7 billion
3. Los Angeles Rams, $6.9 billion
4. New York Giants, $6.8 billion
5. Chicago Bears, $6.3 billion
6. Las Vegas Raiders, $6.2 billion
7. New York Jets, $6.1 billion
8. Washington Commanders, $6.05 billion
9. San Francisco 49ers, $6 billion
10. Philadelphia Eagles, $5.8 billion
11. Miami Dolphins, $5.7 billion
12. Houston Texans, $5.5 billion
13. Denver Broncos, $5.1 billion
14. Seattle Seahawks, $5 billion
15. Atlanta Falcons, $4.7 billion
16. Minnesota Vikings, $4.65 billion
17. Baltimore Ravens, $4.63 billion
18. Pittsburgh Steelers, $4.63 billion
19. Cleveland Browns, $4.62 billion
20. Green Bay Packers, $4.6 billion
21. Tennessee Titans, $4.4 billion
22. Indianapolis Colts, $4.35 billion
23. Kansas City Chiefs, $4.3 billion
24. Tampa Bay Buccaneers, $4.2 billion
25. Los Angeles Chargers, $4.15 billion
26. Carolina Panthers, $4.1 billion
27. New Orleans Saints, $4.08 billion
28. Jacksonville Jaguars, $4 billion
29. Arizona Cardinals, $3.8 billion
30. Buffalo Bills, $3.7 billion
31. Detroit Lions, $3.6 billion
32. Cincinnati Bengals, $3.5 billion