NRL powerhouse pips AFL goliath as most valuable club

Alex Mitchell |

An NRL club has been ranked Australia’s most valuable football brand, edging out an AFL heavyweight.
An NRL club has been ranked Australia’s most valuable football brand, edging out an AFL heavyweight.

Perennial NRL performer Penrith has cashed in on its recent four-peat, claiming the crown of Australia’s most valuable sporting brand according to one survey.

Valuation consultancy Brand Finance found the Panthers rose 19 per cent in value year-on-year to $129 million, slightly higher than AFL leader Collingwood at $127 million.

NRL premier Brisbane Broncos ranked third in the survey, which prices what an owner would achieve if they licensed the brand in an open market.

The Broncos brand was valued at $120 million, which is a touch higher than the ASX-listed club’s market cap of $118 million.

Nathan Cleary
A string of NRL premierships helped Penrith Panthers become king of jungle in a brand value survey. (Mark Evans/AAP PHOTOS)

The survey found eye-catching jumps for two AFL clubs outside the code’s Victorian stronghold.

Back-to-back premiers Brisbane Lions leapt 82 per cent to $116 million, with the survey citing increased fan loyalty and visibility after claiming national headlines.

The Sydney Swans soared 75 per cent to $115 million on the back of a losing grand final appearance in 2024.

While high-ranking clubs have ridden on-field success to bigger valuations, it takes much more than just winning games.

Most valuable AFL and NRL brands
The Panthers lead AFL’s Collingwood in a ranking of Australia’s most valuable sporting brands. (HANDOUT/Brand Finance)

“Clubs that invest in fan engagement, digital presence and community connections see that effort translate directly into brand strength and financial growth,” Brand Finance Australia’s managing director Mark Crowe said.

Penrith won four consecutive first-grade premierships between 2021 and 2024, the first since the St George Dragons in the 1960s. The club was the first to pull off a four-peat in the NRL’s national competition.

Brand Finance noted the Broncos boast popular social media star Reece Walsh, who is the most followed player online in the league.

The consultancy tipped the NRL premiers could well take top spot in 2026 off the back of their title due to increased commercial revenues.

Reece Walsh
The Brisbane Broncos brand boasts livewire fullback and popular social media star Reece Walsh. (Dan Himbrechts/AAP PHOTOS)

Parramatta’s 38 per cent increase in value defied three relatively poor seasons on-field where the NRL club failed to make the finals, after a losing grand final in 2022.

Canberra’s brand value surged 91 per cent in 2025, becoming the fastest-growing NRL brand. Support from the club’s loyal fan base during its rebuilding phase is now paying off, Brand Finance said.

AFL AND NRL CLUBS BY VALUE

AFL

1 – Collingwood $127m (2024 value: $145m)

2 – Brisbane Lions $116m ($64m)

3 – Sydney Swans $115m ($66m)

4 – Richmond $108m ($101m)

5 – Carlton $99m ($115m)

6 – Geelong $98m ($88m)

7 – Adelaide $88m ($63m)

8 – Hawthorn $81m ($73m)

9 – West Coast $79m ($68m)

10 – Port Adelaide $79m ($67m)

NRL

1 – Penrith $129m ($108m)

2 – Brisbane Broncos $120m ($124m)

3 – Parramatta $98m ($71m)

4 – Melbourne Storm $96m ($55m)

5 – Canterbury $92m ($51m)

6 – Sydney Roosters $88m ($68m)

7 – Canberra $77m ($40m)

8 – South Sydney $76m ($73m)

9 – North Queensland $76m ($72m)

10 – Dolphins $61m ($49m)

Source: Brand Finance

AAP