Forbes: Average NFL Team Value Increases 14%, Cowboys Hold Top Spot

The average value of NFL teams increased 14% in the past year, to $3.48 billion, according to Forbes.

Despite the COVID-19 pandemic causing the NFL to drop 20% in revenue, the average value of NFL teams increased 14% in the past year to $3.48 billion, according to Forbes.

The increase marks the biggest gain five years. The jump is reportedly largely tied to the league's growing national media rights deals.

Forbes, which on Thursday released its ranking of the most valuable NFL teams, has the Cowboys, worth $6.5 billion, as its top team for the 15th straight year. They are followed by the Patriots ($5 billion value), Giants ($4.85 billion value), Rams ($4.8 billion value) and Washington Football Team ($4.2 billion value).

The reigning Super Bowl champion Buccaneers saw the biggest one-year increase in value, surging up 29% in value since Tom Brady's arrival. The Buccaneers are valued at $2.94 billion, per Forbes.

Forbes determines team value by looking at equity plus net debt, and adding the economics (including non-NFL revenue that accrues to the team’s owner) of the team’s stadium but not the value of the stadium real estate itself.

The Bills are ranked as the league's least valuable team, at $2.27 billion.