The Dallas Cowboys have been the most valuable team in the world’s richest sports league for 18 straight years, but America’s Team wasn’t the first franchise worth $1 billion, or $2 billion, or even $3 billion. (By Forbes’ calculations, those milestones were first achieved by, in order, the then-Washington Redskins in 2004, Manchester United in 2012 and Real Madrid in 2013.)
However, if everything is really bigger in Texas, the owner of Dallas, Jerry Jones, can really appreciate this: jeans are the first sports team to cross the threshold of $ 10 billion, TouchDown at $ 10. 1 billion in The annual forbes list of the valuable NFL groups. This figure represents a 77% building since 2020, when the Covvi -19 pandemic has temporarily slowed down the expansion of the NFL groups, and an annualized recoil of 15%, exceeding 13% of the S&P the same four years. .
The Cowboys may not have won a Super Bowl since 1996, but they now have a $2.5 billion lead on the NFL’s second-most-valuable team, the Los Angeles Rams—and a $7 billion gap ahead of the No. 32 Cincinnati Bengals—thanks to Dallas’ nearly $800 million in local revenue during the 2023 season, including ticket sales, sponsorships, merchandise and other streams specific to the club. No other pro football team even topped $400 million, with the Las Vegas Raiders and the Rams getting the closest, and Dallas’ $564 million in operating income essentially doubled up the second-place Rams’ $286 million.
However, all NFL franchises are collected with around $ 380 million in profits of the new team package of the National Media of Lucraté, which allowed last season. The agreements: with CBS, ESPN / ABC, Fox, NBC and YouTube, as well as the Amazon Soccer Agreement Thursday Night, which began a year earlier, pay at least $ 125. 5 billion until 2033.
This type of guaranteed cash is worth all 32 NFL groups at least $4 billion, averaging $5. 7 billion, up 11% compared to the record-breaking 2023 record 523Array $1 billion. And each team is profitable, with an operating source of revenue of at least $56 million across all slots for the 2023 season, according to Forbe estimates. (On the other hand, Major League Baseball, Major League Soccer, and the NBA each had at least 3 groups to lose cash in the latest season of Forbes data. )These saving assistance to why NFL testing is in a relatively narrow group, with the Cowboys with the Cowboys worth the latest Bengals: more trunk than spread on Forbes’ recent top lists for MLB (7. 6x), MLS (3x), the NBA (3. 2X) and the NHL (5. 6 unknown).
The long execution of the NFL “sunday tickt” pack opposite to the League (the plaintiffs (the plaintiffs (the plaintiffs (the plaintiffs (the plaintiffs (the plaintiffs (the plaintiffs are expected to appeal. ) But after the Washington commanders were sold last year for a record of $ 6. 05 one billion (including a gain of $ 200 million), there are winds of tail that can push the costs of the equipment even higher.
First, Netflix deserves to convey two Christmas games this season and at least one in 2025 and 2026, adding one more competitor to the media auction war. The NFL is also appearing internationally, with five games that are played in 2024 and Flag Football that begins as an Olympic game in Los Angeles in 2028. Meanwhile, the NFL commissioner Roger Roger Goodell continues to put tension for a normal season of 18 games, after the players of the Union players reluctantly accepted a 17º in the form of 2021, and the generalized legalization of games bets opens new opportunities. In addition, several league groups are looking for new stadiums, which sometimes increases income.
More immediately, the NFL, which has required that team owners be individuals, can also see a personal justice cash entry after a vote in a special assembly on Tuesday to allow the budget determined to keep up to 10 % of the justice of a franchise. This is the investment point is a great decrease that what MLB (15%), MLS (20%), NBA (20%) and NHL (20%) would have allowed a fund to possess, so they would have an effect Possibly silenced the idea, however, it is that institutional investors can expand the ranks of possible teams for teams, a group that would continue to weaken as costs continue to shoot.
Similarly, in October, the NFL’s largest debt restricted it to groups to $700 million, compared to $600 million, and for team buyers to $1. 2 billion, as opposed to $1. 1 billion. This allows a long NFL owner to own 30% of a team’s equity that the league requires a franchise’s general spouse to own.
So, although the cowboys are the first team to reach $ 10 billion, they will not be the last.
The income and the operational source of income figures (profits before interest, taxes, depreciation and damping) are estimated for the 2023 season and are net of the stadium debt service. The debt includes the use of the team’s debt and the stadium to the owners of teams. Forbes presents its P&L figures on a species base, which on an accounting base.
Team values are enterprise values (equity plus net debt) and include the economics of the team’s stadium (including non-NFL revenue that accrues to the team’s owner) but not the value of the stadium real estate itself. Team values also exclude other businesses related to the team with separate financial statements, such as The Star, the Dallas Cowboys’ headquarters and entertainment facility. (Those valuations are included in Forbes’ annual ranking of sports empires.) Team values are rounded to the nearest $50 million, and estimated operating income is rounded to the nearest $1 million.
NFL evaluation sources come with team executives, sports bankers, and league consultants; Public documents such as stadium lease agreements and score score credits; and leaders in the sponsorship and broadcast industry.