The Kansas City Chiefs and St. Louis Rams occupy the modest end of the highest-rent neighborhood in all of professional sports, according to Forbes’ annual National Football League team valuations released earlier this week.
The average NFL team is currently worth $1.43 billion, the highest average in all of sports and the highest valuation in the 17 years Forbes has been following football teams’ finances. That’s a 23 percent jump over last year’s average, which marks the largest year-over-year increase since 1999.
But both the Chiefs and Rams are among the NFL’s bottom 10 teams in value. The Chiefs check in at No. 24, with a value of $1.1 billion on 2013 revenue of $260 million and income of $10 million. The Rams are listed last, at No. 32, with a value of $930 million on 2013 revenue of $250 million and income of $16 million.
The Dallas Cowboys had the top valuation, at $3.2 billion on revenue of $560 million and income of $246 million. New England ($2.6 billion), Washington ($2.4 billion) and the New York Giants ($2.1 billion) round out the top four.
Potentially concerning for Kansas City and St. Louis, Forbes’ analysis that accompanies the valuations mentions “a widening wealth gap in the NFL” due to big-market teams’ stadium deals and the premiums buyers are willing to pay for teams in major markets. However, small-market teams like Green Bay and Indianapolis both cracked the top half of Forbes’ valuations.
The analysis also mentions the Rams, who have been the subject of relocation speculation, as one of four teams in the NFL that are “most immediately portable.”
Forbes’ valuations reflect enterprise value and are calculated using multiples of revenue that reflect each team’s current stadium economics.