MINNEAPOLIS (WCCO) — The Minnesota Vikings are worth more today than at any time in Purple franchise history.

That’s according to a Forbes magazine ranking of NFL teams, which found the value of the Vikings is rising fast. Forbes puts the value of the Minnesota Vikings at $1.59 billion. That’s almost three times what the Wilf family paid to buy the team in 2005.

And far more than the $1 billion it costs to build a new Vikings stadium, which is quickly adding value to the franchise.

The Vikings also benefit from a lucrative $4.4 billion NFL television contract, revenue that is divided equally among all 32 teams.

“Everybody is going up,” John Wendt, who teaches sports law at the University of St. Thomas, said. “It’s like playing the commodities market. All you are betting on is the futures.”

In 2005, the Vikings ranked 32nd, dead last, in NFL team value at $658 million.

In 2010, the team was 30th at $774 million.

But now, Forbes ranks the Vikings 18th out of 32 teams at $1.59 billion.

The NFL is so successful it’s now branching out into social media and mobile devices through NFL apps and Fantasy Football. It’s generating future revenue, and value, for the Vikings.

“The value of the Vikings is just going to continue to soar,” Wendt said.

Forbes magazine estimates the value of the Vikings will go up even higher than $1.6 billion once the new stadium is completed. And it estimates the average NFL team value at $1.97 billion.

The most valuable NFL franchise? Forbes says it is Dallas Cowboys, valued at $4 billion, making it the most valuable sports franchise in the world ahead of Real Madrid soccer, which is valued at $3.3 billion.

Here are some of the sources we used for this Reality Check

Forbes Magazine: Most Valuable NFL Teams Overview

Forbes Magazine: NFL Team Valuations

Forbes Magazine: NFL Team Valuations Page 2

Forbes Magazine: NFL Team Values 2011