Those surges in NFL team values, fueled by media-rights deals worth north of $110 billion, mean some billionaires are being priced out of owning teams. For decades it was common for a sports team to have a single owner who controlled most of the equity in the team. But now billionaires — along with private equity — are pooling money to buy teams. These partnerships have become the norm as valuations climb. A few teams have recently been sold to billionaires who teamed up with other investors. Bill Chisholm, the chief investment officer of the private-equity firm STG Partners, for example, led an investor group in purchasing the Boston Celtics for $6.1 billion in 2025. And investor Josh Harris, who co-founded the private-equity firm Apollo Global Management, led a group that bought the Washington Commanders for $6.05 billion in 2023. There were 12 people in that group, which also included fellow billionaire Mitchel Rales (who also owns the Premier League soccer club Crystal Palace FC) and former NBA star Magic Johnson. The rise in team valuations over the past few decades has been staggering. From 2000 to 2023, the cumulative value of NFL franchises grew by more than 1,100%, according to a Goldman Sachs report titled “Getting in the Game: The Future of Sports Investing.” See: NFL-ESPN deal to include RedZone bundle for new streaming service. And more RedZone shows could follow. As price tags for teams push into the billions, fewer individuals can cut a check on their own. The $4.6 billion purchase of the Denver Broncos in 2022 by the Waltons, part of the family who founded Walmart “Valuation growth has outpaced the ability of high-net-worth individuals to acquire [controlling] ownership of teams,” the Goldman Sachs report stated about the rise in sports-franchise values since the turn of the century. The number of global billionaires grew to 2,640 in 2023, up from 538 in 2001. Yet because team valuations have spiked, ownership of a major sports franchise “would represent a sizable portion of these individuals’ overall balance sheets,” the report said. See: After history-making investment, private-equity firm Ares is on the hunt for more NFL team stakes There are now three franchises with a value over $10 billion in the NFL — the only sports league in the world where that’s the case. The median NFL franchise value is now $6.5 billion, up roughly 116% from the median value in 2020. Here are the NFL’s most valuable franchises in 2025, per Sportico: 1. Dallas Cowboys, $12.8 billion The NFL’s glamour franchise is owned by Jerry Jones, who purchased the team for $150 million in 1989, according to reports. Jones made his fortune in the oil-drilling industry and now has a net worth of $16.2 billion. 2. Los Angeles Rams, $10.43 billion The Rams, a team that moved from St. Louis to Los Angeles in 2016, is owned by Stan Kroenke. He bought the team for $750 million in 2010. Kroenke is one of the most prolific sports owners in the world: He is also the majority controlling owner of soccer team Arsenal FC, the NBA’s Denver Nuggets and the NHL’s Colorado Avalanche, among others. 3. New York Giants, $10.25 billion The Mara and Tisch families each own half of the New York Giants. Bob Tisch bought 50% of the Giants for approximately $75 million in 1991, according to ESPN, and Tim Mara, grandfather of current CEO John Mara, founded the team in 1925 for $500. 4. New England Patriots, $8.76 billion Patriots owner Robert Kraft purchased the team for $172 million in 1994 and was in charge when the team won six Super Bowls. Kraft has a net worth of $11.8 billion and also owns the New England Revolution MLS club. 5. San Francisco 49ers, $8.6 billion The York and DeBartolo family are principal owners of the San Francisco 49ers, with Jed York the team’s controlling owner. Edward DeBartolo Sr. bought the team for $13 million in 1977. Read on: The biggest winners of the Taylor Swift-Travis Kelce podcast