Where Bills rank in Forbes’ 2024 NFL franchise valuations

Forbes has released its annual valuations of all 32 NFL franchises, with the Buffalo Bills expectedly ranking toward the bottom of the league.

Kyle Silagyi | Aug 30, 2024

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Forbes has released its annual valuations of all 32 NFL franchises, with the Buffalo Bills (expectedly) ranking toward the bottom of the league in value ahead of the 2024 season. The Bills are the league’s 30th most (or third least) valuable franchise, with the outlet valuing the club at $4.2 billion.

This is a 14% increase from a year ago, per Forbes. Buffalo ranks just behind the Arizona Cardinals ($4.3 billion) and ahead of the Detroit Lions ($4.15 billion) and Cincinnati Bengals ($4.1 billion). The team earned $552 million in revenue, $101 million in operating income, and $79 million in gate receipts last season.

The ranking near the bottom of the league isn’t surprising, as team valuations are never a direct reflection of on-field success. They balance a number of different factors, among them market size and “the economics of the team’s stadium;” the Bills, playing in the league’s second-smallest market and fourth-oldest venue, rarely grade out well in these categories. The team’s value figures to increase in the coming years when it opens new Highmark Stadium, a state-of-the-art $1.7 billion football palace that’s set to open directly across the street from its current venue in 2026.

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The $4.2 billion valuation is a $500 million increase from a season ago and a $2.8 billion increase from the price that current owner Terry Pegula initially purchased the team for in 2014 ($1.4 billion). The significant growth can be attributed to a bevy of factors, among them the general growth of the league and the organization’s drastic on-field improvement.

The Athletic’s Tim Graham reported in mid-April that Pegula was looking to sell as much as 25% of the team, with Bills chief operating officer Pete Guelli later telling The Buffalo News’ Ryan O’Halloran that “interest has been high” from prospective limited ownership partners; based on Forbes valuation, Pegula could receive just north of $1 billion for a quarter of the franchise.

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