The New England Patriots are the fourth-most valuable franchise in the NFL, holding a current valuation of $6.7 billion.
That’s according to Sportico, a highly-touted sports business and media company, which released its annual valuation rankings for all 32 NFL teams earlier this week.
More eyes (and money) could be on the Patriots this fall, as sports betting in Massachusetts is now legal. That means football fans in the Commonwealth can enjoy some betting on the Patriots all throughout the season.
Contributing factors to franchise valuations
The Patriots dropped one spot from No. 3 in last year’s rankings when they held a valuation of $5.88 billion.
Just a few years ago in 2020, the Patriots had a valuation of $4.97 billion. Now at $6.7 billion, New England trails only the Dallas Cowboys ($9.2 billion), New York Giants ($7.04 billion) and Los Angeles Rams ($6.94 billion) in this year’s rankings.
According to Sportico, 2023 franchise valuations are based on “the sum of the enterprise value of an NFL franchise combined with the value of team-related businesses and real estate holdings.” In addition, other components such as market size, stadium revenue and branding all factor into an NFL franchise’s value.
The NFL continues to reign supreme over other major US professional sports leagues, as every NFL team is now worth at least $4 billion. The NFL continues to grow, too. Over the past 12 months, the average value of NFL franchises has increased 24%.
Robert Kraft one of NFL’s best owners
The Patriots are owned by Robert Kraft, who according to Forbes, has a net worth of $10.6 billion as of 2022. He is the 59th-richest person in the US.
Since purchasing the New England Patriots franchise, Kraft has become one of the most successful NFL owners of all time.
He bought the team in 1994 for $175 million. Now in 2023, the franchise is approaching a valuation of $7 billion.
Patriots on-field success
A big reason for the Patriots’ high valuation is due to their incredible success on the field in recent decades — which makes watching Patriots games at Gillette Stadium one of the most popular activities for sports fans in Massachusetts.
The Patriots have been to the Super Bowl 11 times in franchise history, and 10 of those trips have come under Kraft’s watch. They’ve won six of those Super Bowls, which is tied with the Pittsburgh Steelers for the most in NFL history.
Given all of New England’s success under Kraft, was named a semifinalist for the Pro Football Hall of Fame Class of 2024 in the coach/contributor category.