Nearly a decade has passed since the Jaguars last enjoyed a winning season, but the franchise continues to become more valuable under owner Shad Khan.


In the annual team valuation rankings released Wednesday by Forbes, the Jaguars climbed eight spots to become the 42nd most valuable sports franchise, valued at $1.95 billion, a 32 percent increase from last year. The Jaguars are the 25th most valuable team in the NFL, according to rankings, rising two spots from 2016.

The Jaguars were ahead of the Kansas City Chiefs ($1.88 billion), Cleveland Browns ($1.85 billion), Tampa Bay Buccaneers ($1.8 billion) and New Orleans Saints ($1.75 billion). Only the Cincinnati Bengals, Detroit Lions and Buffalo Bills missed the list of the top 50 sports franchises.

Per Forbes’ calculations, the Jaguars’ value has more than doubled since Khan bought the team from Wayne Weaver in December 2011 for $760 million.

The biggest reasons for that are the NFL’s lucrative TV deal, which according to Forbes, helped every team turn a profit of at least $26 million for the 2015 season, as well as a recent spate of team relocations. The movement of the Rams (to Los Angeles), Chargers (to Los Angeles) and Raiders (to Las Vegas) means Khan and 28 other NFL owners will each receive more than $50 million in relocation fees, with none of that money shared with the players, the magazine added.

Khan has spent a considerable amount on stadium improvements, including the construction of Daily’s Place, which includes an amphitheater and a 94,000-square foot covered flex field and practice facility. Khan’s Iguana Investments also recently won the bid for the Shipyards redevelopment project near EverBank Field.

The NFL’s Dallas Cowboys again topped the Forbes list with a value of $4.2 billion, a 5 percent increase from last year. MLB’s New York Yankees ($3.7 billion) rank second, followed by three soccer teams: Manchester United ($3.69 billion), Barcelona ($3.64 billion) and Real Madrid ($3.58 billion).

The rest of the top 10 were the NFL’s New England Patriots ($3.4 billion), NBA’s New York Knicks ($3.3 billion), NFL’s New York Giants ($3.1 billion), NFL’s San Francisco 49ers ($3 billion) and NBA’s Los Angeles Lakers ($3 billion).

The Jaguars are a league-worst 17-63 in Khan’s tenure and have not had a winning season since posting an 11-5 record in 2007. They open the 2017 season on Sept. 10 at Houston.