Though every NFL franchise is now worth a record amount, the Arizona Cardinals carry the fourth-lowest value among the 32 sports juggernauts, according to a Forbes study.
Each team eclipsed $5 billion following the 2024 season, from the “lowliest” Cincinnati Bengals at $5.25 billion to the Dallas Cowboys worth $13 billion. The Cardinals came in 29th out of 32 with $5.5 billion in their pocket.
Forbes ranked the football teams in order of total value but measured three categories: one-year change in valuation, revenue and operating income.
Arizona’s net worth rose 28%, had $571 million in revenue and worked with a $62 million operating income. Its worth was $4.3 billion prior to the 2024 campaign and it still ranked 29th in the league.
A breakdown of the Cardinals’ valuation:
Sport (NFL shared revenue): $4.264 billion, 77.5%
Market (city and market size): $561 million, 10.2%
Stadium: $409 million, 7.4%
Brand: $266 million, 4.8%
How Cardinals’ value stacks up against rest of NFC West
The Los Angeles Rams blew the Cardinals out of the water as the second-most valued NFL team at $10.5 billion. They experienced a 38% jump, had $764 million in revenue and operated with $244 million in the green. Not far behind in fifth was the San Francisco 49ers at $8.6 billion, which despite having a significantly lower operating income ($115 million), nearly matched the Rams in revenue by taking down $723 million.
The Seattle Seahawks were the 14th-highest valued franchise at $6.7 billion with $143 million to work with after having $624 million coming in.
Where other NFL teams ranked and notable study insights
The reigning Super Bowl champion Philadelphia Eagles slotted in right behind the 49ers as the sixth most valuable team, experiencing 26% growth to $8.3 billion with $688 million in revenue and $117 in operating income.
Though the Las Vegas Raiders cracked the top 10 (No. 9) at $7.7 billion, they saw the least year-over-year change at 15%.
A few noteworthy tidbits from the study:
Teams averaged $127 million in operating income.
No franchise worked with less than $21 million (Detroit Lions at No. 30 and $5.4 billion value).
Three teams were valued at $10+ million (Cowboys, Rams, New York Giants).
Each teams’ value can be estimated by adding a 10.7 multiplier to its average revenue (it was at nine prior to the 2024 season).