The Carolina Panthers are worth $1.56 billion according to Forbes magazine’s list of most valuable teams in the NFL, which was released Monday.
The Panthers ranked 19th in the league, down two spots from last year. Despite the minor slip, the team’s value grew an estimated 25 percent since 2014, when Forbes appraised the team at $1.25 billion.
According to the report, the Panthers’ 2014 revenue was $325 million. Their operating income – earnings before interest and taxes – was $77.8 million.
The Panthers have raised ticket prices after making the playoffs each of the past two years.
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Since 2013, owner Jerry Richardson and the team have committed $71 million toward Bank of America Stadium improvements in addition to the $87.5 million the city of Charlotte agreed to contribute. The upgrades included new scoreboards and escalators as well as renovated luxury suites.
The Dallas Cowboys, valued at $4 billion, top the 32-team list followed by the New England Patriots ($3.2 billion), Washington ($2.85 billion), the New York Giants ($2.8 billion) and the San Francisco 49ers ($2.7 billion).
The average NFL team is worth $1.97 billion – a 38 percent increase from last year.