Doug Schneider

USA TODAY NETWORK-Wisconsin

Packers rank second in NFL North, trailing Chicago Bears but ahead of Vikings, Detroit Lions

Packers value increased 42 percent, following trend that saw many NFL teams increase their value.

NFL teams generated $2.4 billion profit during the 2014 season, when new network TV deals kicked in

GREEN BAY - The Green Bay Packers are the 25th most valuable franchise in professional sports, according to a list released Wednesday.

Despite playing in the smallest market in major professional sports, the Packers continue to increase in value and are valued at almost $2 billion, Forbes.com reports.

Still, the Packers trail a number of their NFL rivals in estimated value. Forbes says the Dallas Cowboys are the most valuable property in sports, at roughly $4 billion. Franchises in New England and Washington, the New York Giants and Jets, the Houston Texans, Chicago Bears and Philadelphia Eagles also have a greater value than Green Bay's, according to Forbes.

The website says the Packers' value increased 42 percent to $1.95 billion from 2014 to 2015, following a trend that saw a number of NFL teams significantly increase their value.

"NFL franchises make up 27 of the 50 most valuable sports teams in the world, including the Dallas Cowboys, who rank first with a value of $4 billion, up 25 percent," Forbes says. "It is the first time a non-soccer club has reigned as the most valuable team since 2011 … Manchester United held the crown in 2011 and 2012 and Real Madrid the last three years."

But with the value of an NFL team comes expenses. The Packers and other teams can spend roughly $133 million this year on players salaries, and that figure doesn't include the cost of paying management and staff.

RELATED: See what $133M will buy. Build your 2016 Packers roster

Among the Packers' rivals in the NFC North, the Chicago Bears ranked 16th in value at $2.45 billion, the Minnesota Vikings 39th at $1.59 billion, while the Detroit Lions did not make the top 50.

The Packers traditionally don't comment on the Forbes report, which has been issued annually since 2011. A year ago, Forbes valued the team at $1.375 billion.

Of course, the exercise of valuing the team is hypothetical, since the Packers, unlike the other NFL franchises, are community-owned and could not be sold.

The team has taken a number of steps in the past few years to increase revenue, from adding thousands of seats to Lambeau Field's south end zone to expanding the restaurant and pro shop facilities inside the stadium. Forbes also credits a television contract that kicked in two years ago for increases across the NFL.

"The NFL’s 32 teams generated $2.4 billion in operating profit during the 2014 season, which was the first of the league’s new network TV deals worth more than $5 billion annually," Forbes reported. "The average NFL franchise is worth nearly $2 billion, up 160 percent from $732 million a decade ago."

Teams well over the $2 billion mark are the Patriots at $3.2 billion, and Washington at $2.85 billion.

dschneid@greenbaypressgazette.com and follow him on Twitter @PGDougSchneider.Rich Ryman contributed to this story.

The top 10

The most valuable franchises in professional sports, according to a Forbes.com report Wednesday:

1. Dallas Cowboys, NFL

2. Real Madrid, soccer

3. FC Barcelona, soccer

4. New York Yankees, baseball

5. Manchester United, soccer

6. New England Patriots, NFL

7. New York Knicks, basketball

8. Washington Redskins, NFL

9. New York Giants, NFL

10 (tie). Los Angeles Lakers, basketball; San Francisco 49ers, NFL