Forbes: The NFL’s Most Valuable Teams

It will take more than a historic recession and a player lockout to sack the business of football.

The average National Football League team is now worth $1.04 billion, 1.4% more than last year. During the 2010 season average revenues for the league’s 32 teams rose 4% compared with the previous season, to $261 million. Although operating income (earnings before interest, taxes, depreciation and amortization) fell 8.1%, to an average of $30.6 million per team due to higher costs for stadium operations, training facilities and marketing, the new collective bargaining agreement will give owners a bigger slice of overall revenue.

The biggest winners are high-revenue team owners who will see their revenue sharing payments to their low-revenue rivals drop. In part this explains why the value of the top 10 teams rose 4% on average.

“The new CBA provides owners with a level of certainty as well as greater profitability,” says Marc Ganis, president of consultancy SportsCorp. The 10-year deal, the result of a four and a half month lockout of its players, ensures labor peace for the next decade as neither side can opt of the agreement.

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Pictured: Terence Newman #41 of the Dallas Cowboys celebrates with teammate Ken Hamlin #26 after returning an interception for a touchdown in the fourth quater against the Carolina Panthers at Cowboys Stadium on September 28, 2009 in Arlington, Texas. (Photo by Ronald Martinez/Getty Images)