The Las Vegas Raiders were valued at $6.2 billion as of August, according to Forbes. That’s 6th among all NFL franchises, and up 22% versus the $5.1 billion it was valued at in 2022.

And in 2014, the Raiders were worth $970 million. That’s about 640% growth in a decade.

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Sports teams are therefore not only a fun product to own — they’re actually a great investment.

Forbes editor Mike Ozanian illustrated this in a table comparing 2023 valuations of three of the top four sports leagues — the NBA, NFL, and MLB — with their valuations from last year. Teams in all three leagues averaged double-digit growth, with the NBA leading the way at 35%.

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Sports have seen stable growth driven by continued revenue increases and rising media rights deals for the leagues in the ever-changing broadcasting landscape.

The biggest chunk of revenue for many sports leagues comes from media rights deals, and these have continued to rise. The NFL signed a $110 billion deal in 2020 that goes for 11 years, and it saw a rise of at least 35% in its deals between its five different partners.

The NBA is looking to double or even triple it’s estimated $2.6 billion annual deal.

In turn, this could drive revenue for the leagues and the collective valuation growth of the franchises. That’s on top of any other valuation drivers, like ticket sales and merchandise.

Even those who have supposedly paid a premium have made out well with their sports investments.

In 2014, former Microsoft CEO Steve Ballmer bought the NBA’s Los Angeles Clippers for $2 billion. Ballmer was criticized at the time for overpaying for the Clippers, but a decade later, Forbes now values the Clippers are at $4.65 billion.

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A few of the last prominent sales in the major sports world have been for massive values. The latest NBA team to be sold was the Phoenix Suns in February for $4 billion.

The NFL’s Washington Commanders were purchased for a record $6.05 billion by an ownership group led by Josh Harris, who already owns the NBA’s Philadelphia 76ers and NHL’s Pittsburgh Penguins.

And these growth numbers aren’t limited to the four major sports. Actors Ryan Reynolds, Rob McElhenney, and Michael B. Jordan recently invested in the Alpine Formula 1 team. They were later on joined on by other athletes like Patrick Mahomes, Travis Kelce, and Rory McIlroy.

Alpine is worth $1.4 billion in 2023, according to Forbes. It estimated that the average Formula 1 team’s value has risen by nearly 300% since it valued each team in 2019.