The New England Patriots may be in the midst of a rebuild, but they are still one of the three most valuable teams in the NFL.

Forbes released its annual list with the Patriots ranked behind the Dallas Cowboys and Los Angeles Rams in valuation. The team is reportedly worth $7.4 billion, up from last year’s $7 billion listing.

However, they did not post as high a percentage gain as the Rams, who moved from third place in 2023 to second, where they surpassed the Patriots by $7.6 billion.

The Cowboys remained No. 1 on the list with an impressive value of $10.1 billion.

1. Dallas Cowboys ($10.1 billion)
2. Los Angeles Rams ($7.6 billion)
3. New England Patriots ($7.4 billion)
4. New York Giants ($7.3 billion)
5. New York Jets ($6.9 billion)
6. San Francisco 49ers ($6.8 billion)
7. Las Vegas Raiders ($6.7 billion)
8. Philadelphia Eagles ($6.6 billion)
9. Chicago Bears ($6.4 billion)
10. Washington Commanders ($6.3 billion)
11. Miami Dolphins ($6.2 billion)
12. Houston Texans ($6.1 billion)
13. Green Bay Packers ($5.6 billion)
14. Denver Broncos ($5.5 billion)
15. Seattle Seahawks ($5.45 billion)
16. Tampa Bay Buccaneers ($5.4 billion)
17. Pittsburgh Steelers ($5.3 billion)
18. Atlanta Falcons ($5.2 billion)
19. Cleveland Browns ($5.15 billion)
20. Los Angeles Costs ($5.1 billion)
21. Minnesota Vikings ($5.05 billion)
22. Baltimore Ravens ($5 billion)
23. Tennessee Titans ($4.9 billion)
24. Kansas City Chiefs ($4.85 billion)
25. Indianapolis Colts ($4.8 billion)
26. Jacksonville Jaguars ($4.6 billion)
27. Carolina Panthers ($4.5 billion)
28. New Orleans Saints ($4.4 billion)
29. Arizona Cardinals ($4.3 billion)
30. Buffalo Bills ($4.2 billion)
31. Detroit Lions ($4.15 billion)
32. Cincinnati Bengals ($4.1 billion)

There is hope that the Patriots’ valuation growth will be even higher in 2025 if rookie quarterback Drake Maye takes the field and shows his skills throughout the season.

The team’s future will ultimately be determined by the development of the No. 3 pick in the 2024 NFL draft.