Dallas Cowboys reach unprecedented $13 billion valuation

In August 2025, Forbes released its annual list detailing the valuations of NFL teams, revealing a significant increase in worth for franchises. The Dallas Cowboys maintained their long-standing position as the NFL's most valuable team, boasting a remarkable valuation of $13 billion, an increase of 29% from the previous year and double their value from four years prior. This surge in valuation reflects a broader trend across the league, as all 32 teams now hold a worth of at least $5 billion, marking a historic milestone for the NFL. Notably, the Cincinnati Bengals, which set the lowest valuation, are now worth $5.25 billion, surpassing all but seven franchises in other major leagues, including the NBA and MLB. The increase in team value has been spurred by several factors, including stake sales and the rising desirability of sports franchises among investors. Recent high-profile transactions, such as the $6.1 billion sale of the NBA’s Boston Celtics and the $10 billion sale for the Los Angeles Lakers, indicate a growing appetite for sports investments. The new valuations for NFL teams also reflect the keen interest in ownership stakes, as evidenced by the Miami Dolphins' owner selling a 13% share at an $8.1 billion valuation, and the Buffalo Bills fetching $5.8 billion for a 20.6% stake. Despite these substantial sales, the NFL has not experienced a change in control ownership since the Washington Commanders were purchased for $6.05 billion in July 2023. Bankers estimate that many recent transactions align closely with control valuations, showcasing the financial health and increasing significance of NFL teams within the broader sports landscape. Each franchise averaged an operating income of $127 million last season, with no team falling below $21 million, underscoring the lucrative nature of owning an NFL team. As the league continues to evolve, the search for investment opportunities remains vibrant. The New York Giants are currently seeking buyers for around 10% of their franchise, showcasing additional opportunities for investors eager to enter the NFL market. The financial ascent of the Cowboys and other franchises indicates a healthy market and an ongoing trend where owning an NFL team is not just a passion but increasingly a profitable venture.