No. 2 most valuable NFL franchise behind Cowboys will surprise you

Another popular team’s low ranking on the Forbes annual list is also quite stunning.

Dallas Cowboys owner Jerry Jones observe the playing of the national anthem at training camp opening ceremonies at the River Ridge Fields. | Kirby Lee-Imagn Images

Forbes released its annual list of the NFL’s most valuable franchises, and no surprise the Dallas Cowboys came in as No. 1. The biggest surprise maybe is the team that came in No. 2, however, and how much they added to its value.

The Cowboys, owned by Jerry Jones, are up $3B from 2024’s valuation on the list where they were at $10B. That’s quite the increase for America’s Team, which hasn’t won a Super Bowl since 1996.

At No. 2 came the Los Angeles Rams at $10.5 billion, up from $7.6B last season. It’s amazing how values have inflated in this economy as well. The Rams are worth more than the $10B the Los Angeles Lakers just sold for, which is unreal and shows how much the NFL is king.

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Forbes' NFL franchise valuations are are out ...

1) Dallas Cowboys $13 billion
2) Los Angeles Rams $10.5 billion
3) New York Giants $10.1 billion
4) New England Patriots $9 billion
5) San Francisco 49ers $8.6 billion
6) Philadelphia Eagles $8.3 billionhttps://t.co/AZy4j9nRvQ

— Albert Breer (@AlbertBreer) August 28, 2025

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The Rams do play in the biggest market in the country and at beautiful SoFi Stadium, although the other LA team the Los Angeles Chargers shockingly came it at No. 24 out of 32 at $6B.

Panoramic view of SoFi Stadium | Jayne Kamin-Oncea-Imagn Images

Another stunner is the Pittsburgh Steelers at No. 17 overall at $6.5 billion given they are a Top 5 most popular team, and amongst the original franchises.

The football season is right around and the Cowboys will at least remain No. 1 in something. Well, two things.

Kevin Jairaj-Imagn Images

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