Each year Fobes puts out their list of the NFL's most valuable franchises, and Pat Yaskinskas of ESPN has put together a breakdown of the NFC South. Good news for Jerry Richardson: His pie chart is worth more than it was a year ago.

As it stands the Carolina Panthes are worth $1.048 billion, the dead in the middle of the NFL at 16th in the league. Proof positive that market size and value don't always work hand-in-hand, as the Panthers are out-valuing several higher market teams, particularly two cities who also share the NFC South. New Orleans were ranked 23rd, and Atlanta at 28th– although it's important to note that if both teams get the new stadiums they're seeking it changes the complexion entirely.

One thing about Forbe's numbers is how little money JR is actually pocketing from the Panthers. Likely due to moves of redesigning the logo, and a speight of big contracts, Carolina are making the 6th least money in the NFL, with an operating income of $11.5 million; hardly chump change, but a vast difference to the Dallas Cowboys who made $226 million last year.

The state of the Carolina Panthers is good. They grew 5% from last year, and continue to trend upwards. If JR can get plans for a new stadium in the next few years that value will only rise.