More Than A Third Of NFL Teams Are Worth At Least $8 Billion

Every year, people make valid arguments about the safety of football. Even after rule changes designed to better protect players, we still regularly see big hits and players breaking bones, tearing muscles, and suffering concussions. And yet, every year, football continues to grow in popularity. More fans tune into games, teams continue selling out stadiums, and fantasy football—and gambling in general—shows no signs of slowing down.

That popularity has extended into team valuations, which increased 18% from last year, per CNBC. The average NFL franchise is now worth $7.65 billion. And 11 teams—more than a third of the league—have a valuation of $8 billion or more.

The Dallas Cowboys, owned by Jerry Jones, remain the league's most valuable team, worth $12.5 billion. Despite a losing season last year, the Cowboys still achieved the league's highest revenue, netting a cool $1.27 billion overall and $300 million in sponsorship revenue.

Stan Kroenke (L) and Jerry Jones (R) own the NFL's two most valuable teams. (Tony Ding/Icon Sportswire via Getty Images)

Behind the Cowboys are the Los Angeles Rams with a $10.7 billion valuation. Stan Kroenke, who's married to Walmart heiress Ann Walton Kroenke, owns the Rams. John Mara and Steven Tisch of the New York Giants are right on Rams' tails, with the Giants posting a valuation of $10.5 billion.

Since there are so few NFL teams, simply getting involved as an owner—even one with a tiny minority stake—is a costly endeavor. We've seen several teams shift ownership stakes over the past couple of months. Robert Kraft bought the New England Patriots for $172 million in 1994. Last month, he sold 8% of the team at a $9 billion valuation. Julia Koch bought a 10% share of the New York Giants at a $10.3 billion valuation. The San Francisco 49ers and Chicago Bears also sold off small stakes of their teams in deals valuing the clubs at $8.6 billion and $8.9 billion, respectively.

Postseason success doesn't seem to matter, either. The Giants have had one playoff win since their last Super Bowl in 2011. The Bears and New York Jets have a combined two playoff appearances (both by the Bears) and zero postseason wins since 2010. The Miami Dolphins last won a playoff game in 2000; the Las Vegas Raiders haven't won one since losing the Super Bowl in 2002.

The takeaway is clear: Owning an NFL team, and then selling a portion of it (even a very small one), is a lucrative move.

Here's the full list of teams worth at least $8 billion:

1. Dallas Cowboys: $12.5 billion
2. Los Angeles Rams: $10.7 billion
3. New York Giants: $10.5 billion
4. Las Vegas Raiders: $9.3 billion
5. New England Patriots: $9.25 billion
6. New York Jets: $9.1 billion
7. Chicago Bears: $8.9 billion
8. San Francisco 49ers: $8.6 billion
9. Miami Dolphins: $8.55 billion
10. Philadelphia Eagles: $8.5 billion
11. Atlanta Falcons: $8 billion