The Buffalo Bills are valued at $2.27 billion, an increase of 11% over last year, according to Forbes annual study of franchise values.
The value is listed as 32nd among the 32 teams.
The Bills were valued at $2.05 billion and were 31st.
The Cincinnati Bengals, who were last in 2002, at $2 billion moved ahead of the Bills in the rankings with a value of $2.275 billion, an increase of 14%.
The average value of an NFL franchise increased to $3.48 billion in the last year, a jump of 14% from last year.
The Dallas Cowboys remain the league’s most valuable franchise at $6.5 million, according to Forbes, followed by the New England Patriots ($5 billion), New York Giants ($4.85 billion), Los Angeles Rams ($4.8 billion) and Washington Football Team ($4.2 billion).
Revenue dropped by 20% to an average of $381 million per team because of the pandemic, but values skyrocketed thanks to new television rights deals and the success of 32 Equity, the league’s venture capital arm.
Per Forbes, the Bills’ revenue is listed at $340 million, well less than the league average and a decrease from $413 million in 2020.
The team had a loss of operating income of $18 million because of the pandemic. Only $2 million was credited in gate receipts for the nearly 7,000 fans who attended the two playoff games.