The Pittsburgh Steelers are one of the NFL’s most historic franchises and are tied for the league lead with six Super Bowls. But even with a wide-ranging fan base, the Steelers ranked in the middle of the pack in revenue generated in 2022-23. With $548 million in revenue generated last season, Pittsburgh ranked 15th in the NFL, according to data from Forbes compiled by JP Morgan Asset Management via Visual Capitalist.
The Steelers were also valued at $4.6 billion, but the team is not going to be sold and leave the Rooney family anytime soon. The Dallas Cowboys were the only team to top $1 billion in revenue last season, generating $1.14 billion to lead the NFL. The top five was rounded out by the Las Vegas Raiders, Los Angeles Rams, New England Patriots and New York Giants. Dallas’ total was $411 million higher than Las Vegas, whose $684 million in revenue ranked second. Dallas has been the most profitable sports franchise worldwide since 2016, and the Cowboys earned more money from sponsorships than any other team in the league as well.
Despite a lack of recent success, the Cowboys still remain a major brand and it’s no surprise that they led the league in generated revenue. They also had the highest valuation in the league, at a whopping $9 billion. Pittsburgh’s valuation was the 18th-highest in the league, and the $4.6 billion valuation was the same as two of the team’s AFC North rivals in the Cleveland Browns and Baltimore Ravens.
It’s not a surprise that the teams that ranked highest on the list come from major markets. Pittsburgh’s market size likely impacts the revenue generated, as it’s tough to compete with teams that play in markets like Los Angeles and New York when it comes to making money.
Despite being back-to-back Super Bowl champions, the Kansas City Chiefs ranked No. 22 in revenue generated, coming in at $540 million. As a whole, the NFL generated over $20 billion in revenue with each team surpassing $400 million. That’s largely due to the strength of the league’s media rights deals, as the league’s broadcasting deals are valued at $125 billion, which helps makes the NFL the most profitable professional sports league in America.
It’s going to be interesting to see how these totals look in the coming years with the Sunday Ticket Antitrust lawsuit ruling potentially impacting the bottom line for the league as a whole and individual franchises. But the NFL has been thriving in recent years as the league continues to make itself year-round entertainment and the most talked about league in the USA.
