Sports is one of the most popular entertainment industries in the country, producing over $150 billion in annual revenue. Between the National Football League, Major League Baseball, National Basketball League, and National Hockey League, sports teams can be a fantastic investment for owners. In fact, over the last five years, the average value of a professional sports team has grown by over 87%.
When you think about this kind of growth, it begs the question of which sports teams are the most valuable. The good news is that Forbes has done the homework for us, so we can look at which teams in America are currently worth the most. The only real question is which team is number one, so let’s look in descending order at the country’s 15 most valuable sports teams.
Why Are We Covering This?
As previously noted, the sports industry accounts for over $150 billion in annual revenue. This means big revenue for cities, vendors, hundreds of thousands of employees, and more. Not to mention that many people who own these sports teams also have a stake in other businesses that 24/7 Wall St. might be interested in. This makes covering the value of sports teams a slam dunk in terms of topical relevance.
15. Miami Dolphins
- Current valuation: $5.7 billion
- League: NFL
- Price paid: $1.1 billion
There’s something to be said about having football in one of the most tourist-friendly cities in the country. It doesn’t hurt that the Dolphins are one of the most storied teams in NFL history, including the team’s 1972 undefeated season and Super Bowl win. The popularity of the Dolphins also helps with television contracts, contributing to the team’s current valuation of $5.7 billion.
After a 2023 season that ended in an early playoff exit, the Dolphins retain a strong core group led by QB Tua Tagavailoa that can make a deep playoff run in 2024. Head coach Mike McCarthy is also among the most exciting football coaches, which only ups the stakes for the Dolphins.
14. Philadelphia Eagles
- Current valuation: $5.8 billion
- League: NFL
- Price paid: $185 million
If there is a city that can best be described as crazy about its sports, it’s Philadelphia. As the fourth-largest media market, the Eagles have thrived with a dedicated fanbase that fills Lincoln Financial Field every game, win or lose. The team’s current streak of being one of the best teams in the NFL has certainly contributed to its 121% five-year increase in value.
Even with the loss of Pro Bowler Jason Kelce, the Eagles still have one of the best quarterbacks in the league with Jalen Hurts and tons of talent on the offensive line and wide receivers. Expect another big season in 2024 and a strong run into the playoffs.
13. Los Angeles Lakers
- Current valuation: $5.9 billion
- League: NBA
- Price paid: $20 million
One of the two most celebrated franchises in the NBA, the Los Angeles Lakers, has been increasing in valuation for decades. Now worth $5.9 billion, the team’s success can be attributed to a relatively consistent streak of success thanks to Magic Johnson, Kobe Bryant, Shaquille O’Neal, and Lebron James.
Over the last 5 years, with one “title” coming from the COVID bubble, the team’s value has increased 79%. Unfortunately, the Lakers have had some early playoff exits over the last few years and need a better core group of starters around aging all-stars Lebron James and Anthony Davis to make a title run in 2024.
12. San Francisco 49ers
- Current valuation: $6 billion
- League: NFL
- Price paid: $13 million
With five Super Bowl titles tied to the franchise, the San Francisco 49ers have long been one of football’s most popular teams. Built up by players like Joe Montana and Jerry Rice, there was a time when wearing a 49ers Jersey, no matter where you lived, was the thing to do. It also doesn’t hurt that the team is close to Silicon Valley, home to incredibly successful companies looking to partner with sports teams for increased visibility.
The San Francisco 49ers lost a heart-breaking Super Bowl in February 2024, but with most of their core team returning and Brock Purdy poised for another breakout year, the 49ers are a force to be reckoned with out west.
11. Washington Commanders
- Current valuation: $6.05 billion
- League: NFL
- Price paid: $6.05 billion
While the Washington Commanders are on this list, their valuation is based more on their 2023 sale price than on decades of growth. Purchased by an investor group led by Josh Harris for $6.05 billion, the team saw around 95% growth in value over the last five years, which isn’t for no reason.
The team’s name change gave it a fresh start and an opportunity to introduce itself to new football audiences. To justify their astronomic price tag, the Commanders need to be better next season after placing 32nd in multiple defensive categories over the last season. Current predictions have them winning no more than 7 games in the 2024 season, which makes it difficult to explain why the team is worth over $6 billion.
9. New York Jets (tied for 9th)
- Current valuation: $6.1 billion
- League: NFL
- Price paid: $635 million
Like other New York teams, the New York Jets benefit from having its home in the New York area. Sharing their stadium with the New York Giants, both teams benefit from year-round events like concerts, soccer matches, and other activities that create additional revenue sources.
The team’s 114% growth is among the best on this list over the last five years, creating additional wealth for the Johnson family (of Johnson & Johnson fame). Expectations for the Jets are high in 2024, especially if Aaron Rodgers remains healthy, as the team needs to end its 8-season-long slide of losing. The Jets also haven’t made the playoffs since 2010, something they will look to do in 2024.
9. New York Knicks (tied for 9th)
- Current valuation: $6.1 billion
- League: NBA
- Price paid: $300 million
Another strong sports team name based in the New York area, the New York Knicks, continues to be one of the most recognizable names in sports. It doesn’t hurt that the team plays in Madison Square Garden, one of America’s most popular entertainment venues, which draws sell-out crowds regardless of the team’s success.
There is just something about the Knicks that has become ingrained in the cultural fabric of sports teams. The New York Knicks lost out in the second round of the playoffs in 2024, but the team showed it’s on the rise and will look to make a deeper playoff run in 2024, as long as star forward Julius Randle remains healthy.
8. Las Vegas Raiders
- Current valuation: $6.2 billion
- League: NFL
- Price paid: $180,000
The Las Vegas Raiders, purchased in 1966 for only $180,000, are undoubtedly a major NFL success story. Having moved from Oakland in 2020, the Raiders had previously created deep roots for the team. However, the move to Vegas has given the Raiders access to one of America’s most popular tourist destinations.
There’s a lot of strong buzz about the Raiders in the 2024 season after finishing 8-9 last year, as long as Davante Adams and Josh Jacobs have similarly strong years in 2024 as they did last season. Between the excitement of Vegas and a team that needs to make its mark out west, expect the Raiders to have a strong start to the season.
7. Chicago Bears
- Current valuation: $6.3 billion
- League: NFL
- Price paid: $100
After purchasing the Chicago Bears for just $100 in 1920, the McCaskey family’s investment has certainly paid off. Now worth $6.3 billion, the Bears have seen plenty of growth over the last five years to 117% growth in value. The Bears are also one of the NFL’s original franchises, which has allowed it to become deeply rooted in the fabric of Chicago, where it won a Super Bowl in 1985.
Even though the Bears have the number one pick, quarterback Caleb Williams, set to take control of the team, they have been here before with rookie quarterbacks and failed to do much of anything. To win in 2024, the Bears need to be more than just a good team – they need to find their defensive footing to help keep games close.
6. New York Giants
- Current valuation: $6.8 billion
- League: NFL
- Price paid: $500 million
The New York Giants’ valuation no doubt benefits from being in the biggest TV market in the country. However, a strong history of deep playoff runs and a few Super Bowl wins has also helped build a loyal Giant fan base. Perhaps most importantly, the Giants are an iconic part of the NFL, which helps give the team valuable national television contracts.
If Daniel Jones is ready in week 1 after his ACL injury, the Giants could be in for a good year, but it’s too early to see if the Giants can even put up a winning record in 2024 after disappointing fans the last few seasons.
5. Los Angeles Rams
- Current valuation: $6.9 billion
- League: NFL
- Price paid: $750 million
After exploding in value over the last five years by over 172%, there is no doubt the Los Angeles Rams deserve a high spot on Forbes’ list. Of course, winning the 2021 Super Bowl didn’t hurt, nor did the success of the SoFi stadium, which opened one year prior in 2020. The stadium’s ability to fill seats for every game has helped drive significant income, as has year-round entertainment like concerts.
Behind quarter Matthew Stafford, the Rams have what it takes to win, and they have the offensive muscle behind it. Even with defensive superstar Aaron Donald retiring, the Rams should have enough talent to be a serious Super Bowl contender in 2024.
3. New England Patriots (tied for 3rd)
- Current valuation: $7 billion
- League: NFL
- Price paid: $172 million
With a five-year valuation change of 84%, New England Patriots owner Robert Kraft has seen his investment in the Patriots work out well. Driven by the Tom Brady effect, the Patriots’ marketability around the country grew substantially. Six Super Bowl wins helped the team’s valuation and have undoubtedly made Kraft’s $172 million investment pay off.
The Patriots need some incredible luck to turn around last year’s 4-13 season, the team’s worst showing in over 30 years. Without Brady and Belichick, the Patriots dynasty is long behind them. The team is essentially starting over new and needs momentum not to be the league’s 31st-worst offense for a second year in a row.
3. Golden State Warriors (tied for 3rd)
- Current valuation: $7 billion
- League: NBA
- Price paid: $450 million
With NBA championships in 2015, 2017, 2018, and 2022, the Golden State Warriors have become one of the most popular teams in basketball. The star power of Steph Curry, Draymond Green, and Klay Thompson has turned Warriors games into a unique experience that appeals well beyond the Golden State area. As a result of the team’s success, jersey sales and other apparel have also helped drive the team’s valuation.
The Warriors have tried to keep their three core players together, but Klay Thompson isn’t the player he once was. To make a deep playoff run, the Warriors need some additional star power out of free agency to help take the pressure off Curry and return the glory they saw during the last decade. Not making the playoffs again for the Warriors shouldn’t even be on the table.
2. New York Yankees
- Current valuation: $7.1 billion
- League: MLB
- Price paid: $8.8 million
The New York Yankees are the biggest name in baseball and a not-at-all-surprising number two on the Forbes list of the most valuable sports teams. They have been at or near the top of this list since Forbes first started tracking team values in 1998. When you consider historical success, the Yankees’ legacy of 27 World Series has created one of the most loyal fan bases in all sports, located in one of the largest media markets in the United States.
Behind the star power of Aaron Judge, Juan Soto, and Giancarlo Stanton, the Yankees are in first place right now and have all of the momentum to make a strong run to the World Series.
1. Dallas Cowboys
- Current valuation: $9 billion
- League: NFL
- Price paid: $150 million
One of the biggest reasons for the Dallas Cowboys’ valuation is that Texas is the state most crazy about football. In addition, Cowboys games are almost always aired nationally as “America’s Team.” The team’s owner, Jerry Jones, has the magic touch and has overseen 80% growth in value over the last five years thanks to various revenue streams, including licensing and league-wide sponsorships. Like the Golden State Warriors, the Dallas Cowboys need a reset after a disappointing 2023 season.
Even with a 12-5 record, the team all but collapsed in the playoffs and was handily beaten by the Green Bay Packers. If Dallas is serious about a 2024 Super Bowl, they need to figure out where things went wrong and ensure QB Dak Prescott has everything he needs to take the team to the promised land.
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