Image Source: Brett Knight,Justin Teitelbaum
Key Takeaways
- The Dallas Cowboys are the most profitable sports team, with an estimated $629 million in operating income.
- The 20 most profitable sports teams combined for $4.5 billion in operating income.
- The NFL leads the way with seven franchises ranked among the most profitable teams.
- The NBA and NHL also have a strong presence, with six and three teams represented, respectively.
- Formula 1 and the Premier League each have one team represented among the top 20.
Introduction to the Most Profitable Sports Teams
The world of sports is a lucrative business, with top teams raking in millions of dollars in revenue each year. According to Forbes, the 20 most profitable sports teams combined for $4.5 billion in operating income, with the Dallas Cowboys leading the way. As owner Jerry Jones noted, "the Cowboys are a unique franchise, with a massive following and a strong brand." The team’s operating income of $629 million is more than $200 million ahead of the second-most profitable team, the Golden State Warriors.
The Cowboys’ Financial Success
The Cowboys’ financial success can be attributed to their massive revenue streams, including sponsorships, premium seating, and national media rights fees. As Forbes notes, "the Cowboys are the world’s most valuable sports team, worth $13 billion, and are also the most profitable franchise." The team’s operating income is a staggering $629 million, with Jones commenting, "we’re proud of our financial performance, and we’re committed to continuing to invest in the team and the stadium." The Cowboys’ success is not limited to their on-field performance, as they have been stuck at home on Super Bowl Sunday for the 30th straight year.
The Most Profitable Teams
The list of the 20 most profitable sports teams is dominated by the NFL, with seven franchises represented. The NBA and NHL also have a strong presence, with six and three teams represented, respectively. Formula 1 and the Premier League each have one team represented among the top 20. As Forbes notes, "the most profitable ranking reflects Forbes’ estimates of operating income (earnings before interest, taxes, depreciation and amortization) for the most recent season with available data." The top five teams are the Cowboys, Warriors, Edmonton Oilers, Los Angeles Rams, and Mercedes.
The Shift in Investor Expectations
In the past, sports franchises were not necessarily expected to stay in the black, and team owners typically made their money whenever they eventually decided to sell their stakes. However, investor expectations are shifting, and teams are now expected to be profitable. As Forbes notes, "teams are wringing considerably more money out of their sponsorships and premium seating, and with a surge in national media rights fees, they can count on much more lucrative distributions from their leagues." The NFL, for example, saw a 91% increase in team revenue over the past decade, with each franchise receiving an estimated $443 million from the league last season.
The Impact of Cost Controls
The implementation of cost controls in certain leagues has also had an impact on team profitability. Formula 1, for example, introduced a cost cap in 2021, which has helped to level the playing field and restrict teams’ spending. As a result, Mercedes was able to collect $227 million in EBITDA in 2024, ranking fifth among all sports teams. In contrast, the lack of cost controls in European soccer has led to significant losses for some top clubs, such as Paris Saint-Germain’s estimated $111 million in 2023-24.
Methodology
The 20 most profitable sports teams were culled from Forbes’ 2025 team valuations, which included Formula 1, MLB, MLS, NBA, NFL, NHL, NWSL, global soccer, and WNBA teams. The most profitable ranking reflects Forbes’ estimates of operating income for the most recent season with available data. The profit figures are in U.S. dollars and are rounded to the nearest $1 million. As Forbes notes, "the listed team values are enterprise values (equity plus net debt) and reflect the economics of each team’s stadium, but they do not incorporate the value of the stadium real estate."
Conclusion
In conclusion, the world of sports is a lucrative business, with top teams raking in millions of dollars in revenue each year. The Dallas Cowboys are the most profitable sports team, with an estimated $629 million in operating income. The 20 most profitable sports teams combined for $4.5 billion in operating income, with the NFL leading the way. As investor expectations continue to shift, teams are expected to be profitable, and the implementation of cost controls has had a significant impact on team profitability. As Jones commented, "we’re proud of our financial performance, and we’re committed to continuing to invest in the team and the stadium."
https://www.forbes.com/sites/brettknight/2026/01/09/the-worlds-most-profitable-sports-teams-2026/