Cowboys, Patriots, Giants Top Forbes' 2018 Most Valuable NFL Franchises List

The Dallas Cowboys remain atop the NFL mountain in terms of franchise value. 

Per the 2018 NFL team valuations by Forbes, the Cowboys lead the way by a wide margin at $5 billion. The New England Patriots ($3.8 billion), New York Giants ($3.3 billion), Los Angeles Rams ($3.2 billion) and Washington ($3.1 billion) round out the top five. 

The Rams had the biggest one-year jump in value with a seven percent increase from 2017. They also have the largest debt/value percentage (45), with some of that due to the $4.9 billion cost to build a new stadium expected to open in 2020.

The defending Super Bowl champion Philadelphia Eagles checked in at No. 10 with a value of $2.75 billion. 

Per Forbes' official press release, the Cowboys have been the most valuable NFL franchise for 12 straight years and are the first sports team to reach the $5 billion valuation. 

Despite modest success on the field in recent years—they have made just two playoff appearances since 2010—the Cowboys dwarf every other NFL team with $864 million in revenue. The Patriots are a distant second at $593 million. 

On the other side of the spectrum, the Buffalo Bills are the least valuable franchise at $1.6 billion. The Oakland Raiders generated the least amount of revenue ($335 million), while the Detroit Lions' operating income of $4.1 million is nearly $20 million less than any other team. 

The average value of an NFL franchise in 2018 is $2.57 billion.