Jacksonville Jaguars owner calls NFL teams undervalued
In the United States, Jacksonville Jaguars owner Shad Khan said that National Football League (NFL) teams remain undervalued compared with clubs in other professional sports leagues. In an interview with CNBC, he said that the potential for growth in the value of NFL franchises is nearly unlimited.
Growth in franchise values
According to CNBC estimates, the average value of an NFL club in 2026 is $10.36 billion, up 35% from a year earlier. CNBC values the Jaguars, which Khan bought in 2011 for $770 million, at $9.35 billion. According to the outlet's calculations, this corresponds to an average annual return of 18%.
If the Jaguars' value continues to grow at this rate, it could reach $112 billion by 2041, CNBC notes. Asked whether the valuation of a single NFL club could exceed $100 billion, Khan replied that it would be a large sum.
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Club sales and revenue sources
Khan linked further growth in valuations to the involvement of private equity, the expansion of media deals, and clubs' work with local communities. He also pointed to stadium construction and renovations, as well as the expansion of the league's international presence.
CNBC cites recent team sales as an example: the Washington Commanders were sold in 2023 for $6.05 billion, 30% more than the Denver Broncos in 2022. Earlier this month, the Seattle Seahawks were sold for an NFL-record $9.61 billion, 59% higher than the value of the Commanders deal three years earlier.
The ratio of sale price to clubs' annual revenue has also increased: the Broncos were sold for about nine times annual revenue, the Commanders for about 11 times, and the Seahawks' figure exceeded 14. About one-third of NFL clubs are building new stadiums or undertaking major renovations of existing ones. The league is also expanding its international program: a record nine games outside the United States are scheduled this season, and 10 in 2027.
