What Is the Cost to Buy an NFL Team
The purchase price for an NFL team ranges from roughly $4 billion to over $7 billion as of the latest Forbes valuations. The league's minimum franchise value requirement and collective bargaining rules make NFL teams among the most expensive sports franchises to acquire. The most recent confirmed sales show that the average sale price for an NFL team has risen sharply due to limited supply and high demand from wealthy buyers. The NFL enforces strict ownership rules, meaning any buyer must be approved by a supermajority of existing owners, which adds complexity to the transaction. For the latest reported sale prices and franchise values, see the Forbes NFL Valuations page Forbes NFL Valuations.
In the most recent transactions, the average price per team has exceeded $5 billion, with some recent deals reaching over $6 billion. The cost includes not only the purchase price but also stadium-related expenses, stadium debt, and the cost of maintaining a competitive roster under the salary cap. Buyers typically raise capital through a mix of personal wealth, private equity, and debt financing, and they must post substantial collateral to secure league approval. The NFL's 32-team structure and revenue-sharing model mean that every team generates guaranteed national media money, which supports the high valuations despite wide disparities in local revenue.
Current NFL Team Valuations and Recent Sales
Highest Valued NFL Teams
The Dallas Cowboys remain the most valuable NFL franchise, with a latest estimated value above $10 billion, driven by strong brand power and a new stadium deal. Other teams with valuations above $7 billion include the New York Giants, New England Patriots, and Los Angeles Rams, reflecting the premium placed on large media markets and historic brands. The cost to buy one of these top franchises typically exceeds the asking price due to premiums for brand, stadium leverage, and future revenue growth. The latest Forbes NFL team valuations list provides current figures for every franchise Forbes NFL Team Valuations.
Recent NFL Team Sales
The most recent confirmed NFL team sales show that buyers have paid between $4 billion and $7 billion per franchise. The Washington Commanders sold for a record $6.05 billion in 2023, while the Denver Broncos were sold for $4.65 billion in 2022. These transactions set new benchmarks for the cost of acquiring an NFL team and reflect the league's continued financial growth. The NFL requires detailed financial disclosures and owner background checks, and the sale process typically takes several months to complete SEC Filings.
What Else Do You Pay When Buying an NFL Team
Upfront and Ongoing Costs
Beyond the purchase price, buyers must cover transaction costs such as legal fees, due diligence, and league application fees, which can run into the tens of millions of dollars. Stadium costs are a major ongoing expense, as teams often carry billions in debt related to stadium construction and renovations, and some leases require the team to contribute to maintenance and upgrades. Player salaries under the NFL's collective bargaining agreement consume a large share of revenue, and the salary cap forces teams to manage payroll carefully even as revenues grow. The NFL's revenue-sharing system distributes national media money equally, but local revenue streams such as stadium deals, sponsorships, and merchandise can vary widely by team.
Financing an NFL Team Purchase
Most NFL team buyers use a combination of equity and debt, with leverage ratios depending on the buyer's balance sheet and the lender's view of the franchise's cash flow. The NFL's ownership rules require buyers to demonstrate sufficient liquidity and net worth, and the league may impose restrictions on how much debt the team can carry relative