What Is the Purchase Price of an NFL Team
The average NFL franchise is valued at roughly 5.7 billion dollars as of the latest Forbes NFL valuations, with the least expensive teams still costing well over 3 billion dollars to acquire. The most recent reported sales show that buyers have paid between 3.5 billion and 6.5 billion dollars for a single franchise. The highest price ever paid for an NFL team was 6.05 billion dollars when the Washington Commanders were sold to Josh Harris in 2023, a record that still stands. On the lower end, teams in smaller markets have sold for closer to 3.3 billion dollars, reflecting the league's strict revenue sharing and salary cap structure. Because the NFL limits franchise movement and controls expansion, the cost to buy an NFL team remains among the highest of any professional sports league. The league's 32 teams are collectively worth over 180 billion dollars, making each franchise a high-value, low-liquidity asset.
Forbes regularly publishes updated NFL team valuations that factor in stadium deals, local revenue, national media contracts, and brand strength. These valuations often exceed the actual purchase price because they include debt-free enterprise value. When a sale occurs, the headline price usually includes the team, the stadium or stadium rights, and a stake in local revenue streams. The NFL's ownership rules require approval from at least three-quarters of the other owners, which can affect the final price and the pool of potential buyers. The league's constitution also limits individual ownership stakes and requires a majority vote for any sale, adding a layer of complexity that affects transaction timing and price.
What Factors Drive the Cost to Buy an NFL Team
Stadium Deals and Public Funding
Stadium financing is one of the biggest variables in the cost to buy an NFL team. Teams that own or control their stadium, or have favorable lease terms, command higher purchase prices. Publicly funded stadiums can reduce the buyer's upfront capital cost but may come with maintenance obligations and revenue-sharing requirements that affect long-term returns. The latest stadium deals, such as the SoFi Stadium arrangement in Inglewood, show how public-private partnerships shape franchise values and sale prices.
Media Rights and Revenue Sharing
The NFL's national media contracts, which run through 2033, distribute billions of dollars equally among all 32 teams, reducing the revenue gap between small and large markets. This structure means that even the lowest-valued franchises generate massive, predictable income streams, which supports high purchase prices across the board. Local revenue sources, including stadium naming rights, sponsorships, and in-game income, create additional value differences between teams.
Recent NFL Team Sales and Ownership Changes
The Washington Commanders sale to Josh Harris closed in 2023 for 6.05 billion dollars, setting the record for the highest price ever paid for an NFL franchise. The New York Giants and New York Jets are both controlled by the Mara and Tisch families, with no immediate sale plans reported, keeping their valuations stable at over 6 billion dollars each. The Denver Broncos, sold by the Pat Bowlen trust to the Walton-Penner group in 2022 for 4.65 billion dollars, illustrate how a change in ownership can reset a franchise's price benchmark. The Carolina Panthers were sold by David Tepper to a group led by David Einhorn in 2018 for 2.27 billion dollars, a price that now looks low relative to current valuations.
The NFL's ownership rules require a supermajority vote from existing owners to approve any new buyer, which can delay or block sales. The league also caps individual ownership at 30 percent unless the other owners unanimously approve a higher stake, a rule that affects how deals are structured and who can participate as a lead buyer. The latest public filings and transaction data show that private equity firms, family offices