According to CNBC’s official NFL team Valuation 2025, the National Football League increases its lead as the most valuable and profitable sports league in the world, the average franchise now costs $ 7.65 billion.
According to CNBC calculations, eleven NFL teams now have 8 billion dollars or more value, only more than two years ago. Big-market teams are at the top of the CNBC list with the revenue of the attractive stadium.
According to CNBC calculation, the price of Dallas Cowboys, $ 12.5 billion maintained its place as the most valuable team in the league. Cowboy also posted the highest revenue at $ 1.27 billion in NFL. In 2024, Cowboy produced about $ 300 million in sponsorship revenue, so far in NFL, according to a person familiar with the case who did not name because they were not authorized to speak publicly.
According to CNBC calculation, Los Angeles Ram, $ 10.7 billion, is the second most important team. According to another person familiar with the case, the team raked sponsorship revenue of about $ 250 million in sponsorship revenue in 2024, which did not name, as they were not authorized to speak publicly.
According to the CNBC calculation, the average team’s revenue during the 2024 season reached $ 687 million by 7.3% from the previous year. According to league officials, this growth was largely shared between the National Revenue – Television, Licensing and 32 franchises – which increased from $ 403 million to average to $ 433 million per team average in the previous season.
According to CNBC calculation, interest, taxes, depreciation and refinement, or average earnings before Ebitda climbed 7.9% in 2024.
The financial strength of NFL is less than its popularity and its content value. According to Nielsen, NFL game was accounted for for 72 out of the 100 most viewed American telecasts in 2024. Media rights deals now now generate an average of $ 12.4 billion on an average, according to a person familiar with contracts, who asked to remain anonymous because they were not authorized to speak publicly.
The value of the league content is beyond the fees of rights. Earlier last month, Walt Disney’s ESPN and NFL Agreed for a deal In which Disney NFL Network, NFL fantasy and NFL Redzone will acquire distribution rights in exchange for 10% equity stake in ESPN. Analysts and internal sources estimate that NFL’s stake in ESPN may be between $ 2 billion and $ 3 billion. According to league officials, the deal is also expected to promote Ebitda as it will transfer a lot of production costs from NFL to ESPN.
The NFL also holds a small ownership stake in the Paramount Skydance through a joint venture between Skydance Sports and League.
Team owners are capitalizing the league’s popularity and financial strength by selling bets to limited partners. Whereas since the league, only three investments have been made by private equity firms in NFL teams. Such deals allowed A year ago, the rules change had a profound impact on sales prices, as private equity firms – almost every NFL team in line, according to sports bankers – set a floor on evaluation and eradicated concerns over liquidity.
Arctos Partners bought bets in Buffalo Bills and Los Angeles Chargers, while ARES management acquired a minority stake in Miami Dolphin. Historically, investors would expect a discount of 20% to 25% on evaluation if they wanted to buy a small stake, which no one would tell them how the team is running or offers a route to control. According to a cadre of sports bankers, but that cheap investment is largely clarified. Bankers spoke on the condition of anonymity as they worked on several transactions.
The ownership of the NFL team becomes much higher than other leagues. There is a tremendous demand to be part of the NFL team’s ownership and relative to other leagues, very low sales or ownership bets control a buyer to a buyer.
NFL’s ownership rules require a person controlling at least 30% of the team and the team and stadium have a maximum loan of $ 1.5 billion. Sports bankers told CNBC that those who are rich, but are not super wealth to buy a controlled stake, are ready to buy a small minority stake, which will buy a controlled interest in another league.
Chicago Beer saw the largest one year jump in the evaluation this year, rose from 39.1% to $ 8.9 billion. In the existing owners of a deal pending for NFL approval, McCaki and Ryan families, a valuation of $ 8.9 billion in the NFL record by purchasing a 2.3% stake in Andrew McCenna Senior, a valuation of $ 8.9 billion in the NFL records, was not officially named as those who were not officially speaking.
Prior to the Beers Deal, the previous record-high price paid for minority stake in the NFL team was about $ 8.6 billion for 6.2% pieces of San Francisco 49ers in May. 49ers were at the top $ 8.3 billion evaluation In late 2024, for 8% stake in Philadelphia eagles. New York giants are currently looking to sell 10% stake $ 10 billion evaluation,
In such a rich evaluation and with private equity firms eager for a piece of action, more minority stake is expected to be sold in the coming months.
Procedure
CNBC’s official NFL team valuation is current enterprise value-equity plus is calculated using net debt-revenue qualities and includes the economics of the team’s stadium, including non-NFL revenue that acquires the owner of the team.
The evaluation stadium excludes the value of real estate and other businesses owned by the team. For example, the value of Dallas Cowboy, the star, the team’s 91 -acre headquarters, except the practice facility and commercial real estate.
Values are adjusted to teams whose stadium economics is expected to improve soon, such as Buffalo Bill and Tennessi Titans, which are scheduled to go to new stadiums 2026 And 2027, respectively.
CNBC adjusts values for teams that have obtained financing for important stadium reforms, such as Cincinnati Bangles, who are getting $ 350 million For renewal of $ 470 million from Hamilton County in Ohio.
Revenue and EBITDA figures are for 2024 season and are on a cash basis rather than a casual basis. The loan figures are the latest available and include both team loan and stadium loans.
CNBC cuts the cost of goods sold from sale of goods. Therefore, CNBC excluded $ 23 million noncash GAAP, each team to set separate sets for possible consuration litigation settlements in 2024 and included every team of less than $ 2 million which was obtained for a stock sale. 32 equityThe investment branch of the league, according to a person familiar with the case, did not name because they were not authorized to speak publicly.
Sources of evaluation of CNBC’s official NFL team include team owners, investors and officials; Sports banker and league advisor; Public documents such as stadium lease agreement, stadium authority budget and audit, and credit rating reports; And officials of the sponsorship and broadcasting industry.
The figures that cannot be confirmed with sources are CNBC estimates. Some figures used in calculating values may be estimated.
