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The National Football League (NFL) is a professional American football league consisting of 32 teams, divided equally between the National Football Conference (NFC) and the American Football Conference (AFC).
In recent seasons, the NFL has generated more than $6 billion a year in revenue. In 2007, the NFL's 32 teams were worth an average of $957 million each; five franchises: Dallas, Washington, New England, Houston and Philadelphia were valued at more than $1 billion each, as estimated by Forbes magazine.