News / US / cnbc
Shad Khan Claims NFL Franchises Remain Undervalued Despite Record Price Tags
Consumer Services · Other Consumer Services · cnbc · 2026-09-09
Jacksonville Jaguars owner Shad Khan argues that NFL team valuations have significant room to grow, citing media deals and private equity interest.
What Happened
Valuation Growth Potential: Jacksonville Jaguars owner Shad Khan maintains that NFL franchises are still undervalued relative to other professional sports leagues despite recent record-breaking sales. He projects that the league's valuation trajectory remains robust, driven by consistent revenue growth and strong market demand.
Market Drivers and Multiples: The surge in team prices is fueled by expanding media rights, increased private equity involvement, and significant stadium infrastructure investments. Sale price-to-revenue multiples have climbed steadily, with recent transactions like the Seattle Seahawks sale reflecting heightened investor appetite for league assets.
Comparative Financial Performance: Khan highlights that the NFL's superior profitability and dominance in television ratings distinguish it from other major sports leagues. He suggests that as the league expands its international footprint and continues to modernize venues, revenue multiples could continue to climb toward levels seen in other sports.
Long-Term Outlook: With the average NFL team valuation now exceeding $10 billion, Khan remains optimistic about future appreciation. He dismissed concerns about market saturation, suggesting that the league's brand power and financial structure could eventually support individual team valuations approaching $100 billion.