All 124 franchises across the NFL, NBA, MLB, and NHL — ranked in a single reference table. The Institute's aggregated Forbes 2025 dataset, refreshed against the December 11, 2025 NHL update. Every number attributed. Every date noted.
Forbes publishes each league's annual valuations at a different time of year, in a different article, with a different set of quantitative disclosures. The full US pro sports picture — NFL, NBA, MLB, NHL together in a single ranked table — is not published anywhere in one place. The Institute produces it here so a reader can see the whole US pro sports economy in one view.
Sources: Forbes 2025 rankings for the NFL (August 28, 2025 · updated November 10, 2025), NBA (December 4, 2025 · updated January 8, 2026), MLB (March 27, 2025 · updated June 10, 2025), and NHL (December 11, 2025) — all authored by Justin Teitelbaum and Brett Knight.
What the Institute adds. We save the reader the time to aggregate and check sources — every valuation on this page traces to Forbes with the publication date noted — and we bring an original point of view once the record is on the table. Thirty-one years as a CPA, plus decades as a controller, CFO, and family-office operator, sit behind the read of what the numbers mean for franchise economics, ownership succession, and league-level trends. Aggregation is the floor; the practitioner interpretation is the reason to read us.
What the reader should know: Forbes' figures are estimates, not audited disclosures. The Green Bay Packers — the only publicly audited US pro sports franchise — provides the field's most reliable single data point on operating economics. Every other team's numbers are Forbes' triangulation from interviews with team and league executives, bankers, advisors, consultants, and public documents like arena lease agreements and bond documents.
| # | Team | League | State / Province | Value | YoY | Revenue | Op. Income |
|---|---|---|---|---|---|---|---|
| 1 | Dallas Cowboys | NFL | Texas | $13.00B | +29% | $1.234B | $629M |
| 2 | Golden State Warriors | NBA | California | $11.00B | +37% | $820M | $126M |
| 3 | New York Knicks | NBA | New York | $10.75B | +43% | $630M | $134M |
| 4 | Los Angeles Rams | NFL | California | $10.50B | +38% | $764M | $244M |
| 5 | New York Giants | NFL | New Jersey | $10.10B | +38% | $707M | $181M |
| 6 | Los Angeles Lakers | NBA | California | $10.10B | +42% | $573M | $134M |
| 7 | New England Patriots | NFL | Massachusetts | $9.00B | +22% | $762M | $222M |
| 8 | San Francisco 49ers | NFL | California | $8.60B | +26% | $723M | $115M |
| 9 | Philadelphia Eagles | NFL | Pennsylvania | $8.30B | +26% | $688M | $117M |
| 10 | Chicago Bears | NFL | Illinois | $8.20B | +28% | $629M | $80M |
| 11 | New York Yankees | MLB | New York | $8.20B | +15% | $679M | $60M |
| 12 | New York Jets | NFL | New Jersey | $8.10B | +17% | $663M | $180M |
| 13 | Las Vegas Raiders | NFL | Nevada | $7.70B | +19% | $832M | $179M |
| 14 | Washington Commanders | NFL | Maryland | $7.60B | +21% | $644M | $116M |
| 15 | Miami Dolphins | NFL | Florida | $7.50B | +21% | $656M | $63M |
| 16 | Houston Texans | NFL | Texas | $7.40B | +21% | $687M | $156M |
| 17 | Boston Celtics | NBA | Massachusetts | $7.30B | +43% | $524M | $103M |
| 18 | Denver Broncos | NFL | Colorado | $6.80B | +24% | $645M | $103M |
| 19 | Los Angeles Dodgers | MLB | California | $6.80B | +21% | $752M | $29M |
| 20 | Seattle Seahawks | NFL | Washington | $6.70B | +23% | $624M | $143M |
| 21 | Green Bay Packers | NFL | Wisconsin | $6.65B | +19% | $719M | $83M |
| 22 | Tampa Bay Buccaneers | NFL | Florida | $6.60B | +22% | $629M | $130M |
| 23 | Pittsburgh Steelers | NFL | Pennsylvania | $6.50B | +23% | $619M | $137M |
| 24 | Cleveland Browns | NFL | Ohio | $6.40B | +24% | $685M | $90M |
| 25 | Atlanta Falcons | NFL | Georgia | $6.35B | +22% | $612M | $37M |
| 26 | Tennessee Titans | NFL | Tennessee | $6.30B | +29% | $582M | $93M |
| 27 | Minnesota Vikings | NFL | Minnesota | $6.25B | +24% | $609M | $70M |
| 28 | Kansas City Chiefs | NFL | Missouri | $6.20B | +28% | $610M | $66M |
| 29 | Baltimore Ravens | NFL | Maryland | $6.10B | +22% | $621M | $115M |
| 30 | Chicago Bulls | NBA | Illinois | $6.10B | +30% | $396M | $114M |
| 31 | Los Angeles Chargers | NFL | California | $6.00B | +18% | $593M | $105M |
| 32 | Buffalo Bills | NFL | New York | $5.95B | +42% | $585M | $104M |
| 33 | Indianapolis Colts | NFL | Indiana | $5.90B | +23% | $593M | $109M |
| 34 | Carolina Panthers | NFL | North Carolina | $5.70B | +27% | $588M | $36M |
| 35 | Jacksonville Jaguars | NFL | Florida | $5.60B | +22% | $552M | $106M |
| 36 | Arizona Cardinals | NFL | Arizona | $5.50B | +28% | $571M | $62M |
| 37 | Los Angeles Clippers | NBA | California | $5.50B | +35% | $427M | $44M |
| 38 | Detroit Lions | NFL | Michigan | $5.40B | +30% | $585M | $21M |
| 39 | New Orleans Saints | NFL | Louisiana | $5.30B | +20% | $607M | $115M |
| 40 | Cincinnati Bengals | NFL | Ohio | $5.25B | +28% | $573M | $50M |
| 41 | Philadelphia 76ers | NBA | Pennsylvania | $5.10B | +30% | $427M | $54M |
| 42 | Dallas Mavericks | NBA | Texas | $5.05B | +37% | $390M | $36M |
| 43 | Houston Rockets | NBA | Texas | $5.00B | +32% | $402M | $48M |
| 44 | Miami Heat | NBA | Florida | $4.90B | +32% | $425M | $28M |
| 45 | Brooklyn Nets | NBA | New York | $4.85B | +33% | $430M | $27M |
| 46 | Boston Red Sox | MLB | Massachusetts | $4.80B | +9% | $471M | $46M |
| 47 | Toronto Raptors | NBA | Ontario | $4.60B | +40% | $427M | $28M |
| 48 | Chicago Cubs | MLB | Illinois | $4.60B | +10% | $500M | $34M |
| 49 | Phoenix Suns | NBA | Arizona | $4.55B | +30% | $424M | $18M |
| 50 | Denver Nuggets | NBA | Colorado | $4.50B | +52% | $387M | $35M |
| 51 | Washington Wizards | NBA | District of Columbia | $4.40B | +42% | $367M | $27M |
| 52 | Toronto Maple Leafs | NHL | Ontario | $4.40B | +16% | $375M | $191M |
| 53 | Milwaukee Bucks | NBA | Wisconsin | $4.30B | +38% | $390M | $21M |
| 54 | Cleveland Cavaliers | NBA | Ohio | $4.20B | +34% | $389M | $32M |
| 55 | Sacramento Kings | NBA | California | $4.15B | +38% | $346M | $8M |
| 56 | Atlanta Hawks | NBA | Georgia | $4.10B | +37% | $332M | $14M |
| 57 | San Francisco Giants | MLB | California | $4.10B | +6% | $487M | $18M |
| 58 | Detroit Pistons | NBA | Michigan | $4.05B | +35% | $338M | $14M |
| 59 | San Antonio Spurs | NBA | Texas | $4.00B | +29% | $343M | $3M |
| 60 | New York Rangers | NHL | New York | $4.00B | +14% | $322M | $182M |
| 61 | Utah Jazz | NBA | Utah | $3.95B | +41% | $342M | $6M |
| 62 | Portland Trail Blazers | NBA | Oregon | $3.85B | +38% | $320M | $1M |
| 63 | Oklahoma City Thunder | NBA | Oklahoma | $3.80B | +41% | $333M | $59M |
| 64 | Charlotte Hornets | NBA | North Carolina | $3.75B | +32% | $319M | $8M |
| 65 | Indiana Pacers | NBA | Indiana | $3.70B | +34% | $330M | $29M |
| 66 | Orlando Magic | NBA | Florida | $3.65B | +35% | $326M | $21M |
| 67 | Minnesota Timberwolves | NBA | Minnesota | $3.60B | +35% | $310M | $8M |
| 68 | New Orleans Pelicans | NBA | Louisiana | $3.55B | +30% | $314M | $21M |
| 69 | Memphis Grizzlies | NBA | Tennessee | $3.50B | +36% | $308M | $26M |
| 70 | Montreal Canadiens | NHL | Quebec | $3.40B | +13% | $320M | $136M |
| 71 | New York Mets | MLB | New York | $3.20B | +10% | $395M | -$27M |
| 72 | Edmonton Oilers | NHL | Alberta | $3.20B | +21% | $431M | $244M |
| 73 | Philadelphia Phillies | MLB | Pennsylvania | $3.15B | +29% | $486M | $3M |
| 74 | Atlanta Braves | MLB | Georgia | $3.10B | +8% | $490M | $52M |
| 75 | Los Angeles Kings | NHL | California | $3.10B | +7% | $333M | $129M |
| 76 | St. Louis Cardinals | MLB | Missouri | $2.90B | +7% | $425M | $36M |
| 77 | Boston Bruins | NHL | Massachusetts | $2.90B | +7% | $275M | $73M |
| 78 | Chicago Blackhawks | NHL | Illinois | $2.80B | +14% | $272M | $95M |
| 79 | Philadelphia Flyers | NHL | Pennsylvania | $2.70B | +17% | $315M | $124M |
| 80 | Texas Rangers | MLB | Texas | $2.60B | +16% | $430M | $11M |
| 81 | Houston Astros | MLB | Texas | $2.55B | +7% | $439M | $29M |
| 82 | Washington Capitals | NHL | District of Columbia | $2.55B | +19% | $282M | $92M |
| 83 | Toronto Blue Jays | MLB | Ontario | $2.50B | +16% | $375M | -$34M |
| 84 | Detroit Red Wings | NHL | Michigan | $2.50B | +18% | $250M | $69M |
| 85 | Seattle Mariners | MLB | Washington | $2.40B | +9% | $395M | $28M |
| 86 | New Jersey Devils | NHL | New Jersey | $2.40B | +14% | $303M | $98M |
| 87 | Dallas Stars | NHL | Texas | $2.30B | +15% | $250M | $70M |
| 88 | Chicago White Sox | MLB | Illinois | $2.25B | +7% | $326M | -$18M |
| 89 | Vegas Golden Knights | NHL | Nevada | $2.20B | +19% | $250M | $77M |
| 90 | San Diego Padres | MLB | California | $2.15B | +8% | $412M | -$45M |
| 91 | Vancouver Canucks | NHL | British Columbia | $2.15B | +10% | $235M | $55M |
| 92 | Washington Nationals | MLB | District of Columbia | $2.10B | +11% | $338M | -$16M |
| 93 | New York Islanders | NHL | New York | $2.10B | +11% | $220M | $50M |
| 94 | Tampa Bay Lightning | NHL | Florida | $2.05B | +14% | $240M | $60M |
| 95 | Detroit Tigers | MLB | Michigan | $2.00B | +8% | $300M | $1M |
| 96 | Carolina Hurricanes | NHL | North Carolina | $2.00B | +60% | $218M | $41M |
| 97 | Baltimore Orioles | MLB | Maryland | $1.95B | +11% | $298M | -$4M |
| 98 | Colorado Avalanche | NHL | Colorado | $1.95B | +15% | $222M | $47M |
| 99 | Colorado Rockies | MLB | Colorado | $1.90B | +6% | $334M | -$12M |
| 100 | Calgary Flames | NHL | Alberta | $1.90B | +15% | $210M | $70M |
| 101 | Seattle Kraken | NHL | Washington | $1.85B | +16% | $235M | $66M |
| 102 | Arizona Diamondbacks | MLB | Arizona | $1.80B | +13% | $305M | -$11M |
| 103 | Minnesota Wild | NHL | Minnesota | $1.80B | +16% | $240M | $68M |
| 104 | Los Angeles Angels | MLB | California | $1.75B | +3% | $342M | -$4M |
| 105 | Pittsburgh Penguins | NHL | Pennsylvania | $1.75B | 0% | $230M | $60M |
| 106 | Minnesota Twins | MLB | Minnesota | $1.70B | +6% | $309M | -$3M |
| 107 | Florida Panthers | NHL | Florida | $1.70B | +21% | $230M | $45M |
| 108 | Milwaukee Brewers | MLB | Wisconsin | $1.65B | +10% | $310M | $29M |
| 109 | Nashville Predators | NHL | Tennessee | $1.60B | +7% | $203M | $35M |
| 110 | Cincinnati Reds | MLB | Ohio | $1.55B | +7% | $284M | $8M |
| 111 | St. Louis Blues | NHL | Missouri | $1.55B | +7% | $208M | $20M |
| 112 | San Jose Sharks | NHL | California | $1.50B | +11% | $182M | $28M |
| 113 | Pittsburgh Pirates | MLB | Pennsylvania | $1.45B | +7% | $278M | $7M |
| 114 | Utah Mammoth | NHL | Utah | $1.45B | +21% | $195M | $32M |
| 115 | Cleveland Guardians | MLB | Ohio | $1.40B | +8% | $275M | $17M |
| 116 | Anaheim Ducks | NHL | California | $1.40B | +8% | $185M | $26M |
| 117 | Ottawa Senators | NHL | Ontario | $1.375B | +20% | $181M | $21M |
| 118 | Kansas City Royals | MLB | Missouri | $1.35B | +8% | $261M | -$1M |
| 119 | Winnipeg Jets | NHL | Manitoba | $1.35B | +29% | $187M | $26M |
| 120 | Buffalo Sabres | NHL | New York | $1.325B | +20% | $175M | $11M |
| 121 | Tampa Bay Rays | MLB | Florida | $1.30B | +8% | $281M | $28M |
| 122 | Columbus Blue Jackets | NHL | Ohio | $1.30B | +30% | $161M | $19M |
| 123 | Oakland Athletics | MLB | California | $1.25B | +14% | $213M | $61M |
| 124 | Miami Marlins | MLB | Florida | $1.05B | +5% | $247M | -$29M |
Ranked descending by Forbes 2025 franchise value. Operating income is stated pre-interest, tax, depreciation, amortization, and non-cash items — Forbes methodology consistent across leagues.
Reading all 124 franchises in a single sorted table produces observations no single-league table can:
1. The US pro sports economy is worth about $540 billion. Adding the four league totals — NFL $228B, NBA $162B, MLB $78B, NHL $70B — produces a combined market value of roughly $540 billion for the 124 US pro sports franchises.
2. The NFL dominates the top of the table. Of the top 20 franchises by value, 20 are NFL teams. The 21st ranked franchise is the Golden State Warriors at $11B — and the Warriors are worth more than 12 of the NFL's 32 teams. The 22nd is the New York Knicks. The 23rd is the New York Yankees at $8.2B. No MLB or NHL team appears in the top 20.
3. The floor tells the growth-rate story. The floor of each league — NFL Bengals $5.25B, NBA Grizzlies $3.5B, MLB Marlins $1.05B, NHL Blue Jackets $1.3B — ranks the leagues by average franchise scarcity. NFL scarcity is highest (32 teams, 210M US population per team). NHL scarcity is lowest (32 teams, but market split with Canada). MLB has the widest intra-league dispersion — the Yankees at $8.2B are 7.8x the Marlins at $1.05B.
4. Media rights explain the divergence. The NFL's 10-year, $125.5B media package (2023) locked in national revenue certainty for the decade. The NBA's 11-year, $76B package (2024) did the same. MLB has no comparable national package — the sport is regionally-monetized, and the RSN collapse is affecting valuations. The NHL sits between: solid national ESPN and TNT deals, but a smaller Canadian addressable market cap.
5. Ownership consolidation is accelerating. Private equity, sovereign wealth funds, and family-office consortia have moved into pro sports ownership since the pandemic. The NHL was first to explicitly allow institutional investment in franchises (2020). MLB followed (2019 with amendment 2023). NFL as of 2024 allows PE firms to own up to 10% of a franchise, with restrictions on which firms and which structures. NBA allows PE at up to 30%. Read this alongside the Institute's Acquisitions Atlas for the buyers.
The Baratelli Institute does not produce original franchise valuations. Forbes does that, Sportico does that, Sports Business Journal does that. We aggregate what those sources publish into a single reference destination and then bring a practitioner's read to what the numbers mean — how franchise valuations connect to family-office capital structure, how arena and stadium deals interact with municipal bond markets, how media rights economics compare across leagues, and how ownership succession is playing out at individual clubs.
Every number on this page traces to Forbes 2025. Every publication date is disclosed. Where per-team pages include salary cap detail, they source from Over The Cap, Spotrac, or PuckPedia with the reference date noted. Where we discuss ownership, we source from public filings, press disclosures, and the ownership family's own communications. Where we discuss arena or stadium economics, we source from municipal bond issuances, lease agreements filed with local governments, and league-published revenue-sharing formulas.
The reader who wants a specialist's read on any single team or league should start here, then read the primary sources and the local press coverage. We are a starting point that saves the reader the time to aggregate the field — and a practitioner voice once the record is on the table.
Primary sources: Forbes 2025 valuations for each league, by Justin Teitelbaum and Brett Knight — NFL, NBA, MLB, NHL.
Institute contribution: combining four separate Forbes rankings into a single sorted 124-team master reference, refreshed each time any of the four annual updates lands.
Corroborating sources: Wikipedia's four Forbes lists (updated 2025); prior Forbes rankings 2012 onward; NFL, NBA, MLB, and NHL revenue-sharing disclosures; individual team press releases.
Refresh cadence: annual, timed to each Forbes league publication. NFL: August. NBA: November-December. MLB: March-June. NHL: December. The master table is re-sorted after each update.
Editorial disclosure: the Institute has no financial relationship with any pro franchise, Forbes, Sportico, or any other data source referenced. Published as an educational reference for readers interested in the business of professional sports. Not investment advice.