The Washington Commanders sold for $6.05 billion in 2023, and just three years later, the Super Bowl champion Seattle Seahawks raised the bar to $9.612 billion. That increase of nearly 60 percent shows just how quickly the value of franchises has grown in recent years around the league, and perhaps the boost of winning a recent Super Bowl. Sportico released its annual franchise valuations, and the Pittsburgh Steelers came in at the middle of the pack.
Ranking just outside of the top half of the league, the Steelers are estimated to be valued at $8.7 billion, a 34-percent increase from $6.51 billion last year. While there are only three teams ahead of the Steelers growing at a faster rate, there are 12 teams below them with a higher rate of change that could eventually surpass them.
The Dallas Cowboys lead the way with a $15.5 billion valuation (21-percent increase), while the Cincinnati Bengals are in the bottom spot at $7.4 billion (35-percent increase).
The Steelers have one of the most recognizable brands in the country, and pack out opposing stadiums everywhere they go. So how could they possibly be valued lower than teams like the Houston Texans, Atlanta Falcons, Miami Dolphins, or New York Jets? A lot of that has to do with real estate and other business ventures surrounding the team.
Sportico outlined its methodology of compiling these numbers as the following: “The sum of the enterprise value of an NFL franchise combined with the value of team-related businesses and real estate holdings.”
If you’re curious, there is a more precise explanation of what is included or excluded at the bottom of their rankings. Some of it also has to do with the size of the city and the market the team operates in. Pittsburgh is one of the smaller NFL host cities, but that didn’t stop it from breaking NFL Draft attendance records this April.
At the end of the day, the value of a franchise is what somebody will pay for it. A year ago, the Seahawks were valued at $6.59 billion and sold for nearly 50 percent more than that this offseason.
The Rooney family won’t look to sell the Steelers anytime soon, but if they did, it wouldn’t be a shock for Pittsburgh’s valuation to be off by a mile.