The Dallas Cowboys Top the List for the 12th Consecutive Year

The average NFL team is worth $2.57 billion, a 2% increase over last year and the smallest increase since 2011                                                                                   

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New York, NY (September 20, 2018) – The National Football League continues to be the most lucrative sports league in the world, according to Forbes’ 21st annual NFL Team Valuations.  The Dallas Cowboys have not been to the Super Bowl in 23 years, but their league-leading revenue ($864 million) makes them the NFL’s most valuable team.  The Cowboys, worth $5 billion, a 4% increase from last year, retain the top spot for the 12th consecutive year.  The Cowboys are the first sports team to reach a value of $5 billion. The New England Patriots ($3.8 billion), New York Giants ($3.3 billion), Los Angeles Rams ($3.2 billion) and Washington Redskins ($3.2 billion) round out the NFL’s top five most valuable teams.

The average NFL team is worth $2.57 billion, which is a 2% increase over last year.  It is the smallest increase since 2011, when values decreased an average of 2%. “The reason for this year’s small increase is the dearth of people who have the liquid wealth to buy 30% of an NFL team,” says Assistant Managing Editor Mike Ozanian.

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Dallas Cowboys owner Jerry Jones poses with a bust of him during inductions at the Pro Football Hall of Fame on Saturday, Aug. 5, 2017, in Canton, Ohio.

This is the 21st rendition of Forbes NFL valuations, during which time NFL values have climbed almost eight fold, at an 11.6% annual rate versus 4.5% for the S&P 500.


Methodology: Forbes’ team values are enterprise values (equity plus net debt) based on the multiples of revenue of historical transactions as well as offers to buy and invest in teams currently on the table. The values are based on each team’s current stadium (with adjustments for pending new stadiums and renovations).  Revenue and operating income (earnings before interest, taxes, depreciation and amortization) are for the 2017 season, net of stadium debt service. Revenue from non-NFL events, like concerts and stadium tours, is included when such revenue is pocketed by the team owner or an entity the owner controls.

The Top 10 Most Valuable Teams in the NFL:

Rank Team Owner Current
Change (%)
1 Dallas Cowboys Jerry Jones $5.0 4% $864 $365
2 New England Patriots Robert Kraft 3.8 3 593 235
3 New York Giants John Mara, Steven Tisch 3.3 0 493 149
4 Los Angeles Rams Stanley Kroenke 3.2 7 366 68
5 Washington Redskins Daniel Snyder 3.1 0 491 122
6 San Francisco 49ers Denise DeBartolo York, John York 3.05 0 470 106
7 Chicago Bears McCaskey family 2.9 2 431 100
8 New York Jets Johnson family 2.85 4 443 130
9 Houston Texans Robert McNair 2.80 0 464 161
10 Philadelphia Eagles Jeffrey Lurie 2.75 4 458 114

#224 Jerry Jones

President and General Manager, Dallas Cowboys
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as of 4/10/19
The former co-captain of University of Arkansas 1964 national championship team, Dallas Cowboys owner Jerry Jones has long had football in his blood. Jones made a name for himself as an oil wildcatter and still invests in drilling opportunities, retail and residential real estate projects in Dallas.
His most valuable holding is the Dallas Cowboys, which he bought for $150 million in 1989. The team is currently worth $5 billion. After a 2018 deal, Jones became the controlling shareholder in Comstock Resources, a publicly traded Texas oil and gas company.
An avid art collector, Jones’ collections includes Norman Rockwell’s “Coin Toss” as well as paintings by Picasso, Renoir and Matisse among others.
On forbes lists
Source of WealthDallas Cowboys, Self Made
ResidenceDallas, Texas
CitizenshipUnited States
Marital StatusMarried
EducationBachelor of Arts/Science, University of Arkansas; Master of Arts, University of Arkansas
Did you know
Eighteen years after he bought the Cowboys and three Super Bowl rings later, Jerry Jones was inducted into the Pro Football Hall of Fame in August 2017.
Jones’ Dallas Cowboys have been on the top of Forbes list of most valuable NFL teams for 12 consecutive years.
Net worth over time
Forbes 400
September 2014

“The Dallas Cowboys fans are the greatest fans on Earth. But I love Jag fans, I love Eagle fans, I love Redskin fans, Massillon High School fans, Canton McKinley fans…you’re here tonight because you love the game, I am here because I love it too.”

Jerry Jones