The Ravens' worth increased 22 percent from last year, which kept them in the top 10 on the list for a second consecutive season. The Ravens ranked No. 9 last season but were surpassed this year by the San Francisco 49ers, who are opening a new privately financed stadium this season.
The Ravens' value was boosted by the team signing a 10-year, $60 million stadium naming rights extension with M&T Bank. The Ravens rank ahead of the Denver Broncos ($1.45 billion).
Forbes estimates the average value of an NFL franchise at $1.4 billion. The Dallas Cowboys lead all NFL franchises at $3.2 billion.