According to Sportico's 2024 NFL rankings released on Tuesday, the Dallas Cowboys have become the first professional sports team valued at over $10 billion.
The Cowboys, owned by Jerry Jones, are valued at $10.32 billion, making them the league's most valuable franchise and representing an increase of over $1 billion compared to the previous estimate of $9.2 billion in February.
In 1989, Jones acquired "America's Team" for an estimated $140 million (equivalent to around $355 million in 2024). He then turned the organization into a financial juggernaut. As the team's general manager, Jones guided them to early triumphs, making the Cowboys one of the most dominant teams of the 1990s, with Super Bowl victories in 1992, 1993, and 1995.
However, the Cowboys have struggled to replicate this magic in recent years, securing only five playoff wins in the 28 years since their last Lombardi Trophy. Recently, Dallas faced an embarrassing defeat against the Green Bay Packers in the wildcard round of the 2023 postseason, despite finishing as the second seed in the NFC and having MVP runner-up Dak Prescott on the roster.
A relatively quiet offseason followed, though Jones announced that he and his team are "fully engaged" for the 2024 campaign. According to Sportico, the Cowboys remain immensely popular, with an estimated revenue of $1.2 billion in 2023, which is 50% higher than the NFL's second-ranked team, the Los Angeles Rams.
The Rams, valued at $7.79 billion, have overtaken the New York Giants for second place but are not in the same stratosphere as Dallas. The New England Patriots are fourth on the list, valued at $7.31 billion, despite Bill Belichick's departure, while the San Francisco 49ers are in the top five, valued at $6.86 billion.
The Tampa Bay Buccaneers saw the biggest jump in last year's rankings, rising 12 spots to 16th place with a 33% increase in value to $5.5 billion. The Los Angeles Chargers dropped four spots to 22nd place.
According to Sportico's research, the average NFL franchise is valued at $5.93 billion, a 15.4% improvement over last year, making the league the most financially successful in any sport in terms of team value.
The Cincinnati Bengals are the least valuable team in the league, valued at $4.71 billion—only 15 non-NFL franchises in Sportico's February Top 100 Most Valuable Sports Teams list were valued higher than the Bengals' latest estimate.
According to Forbes, Real Madrid is valued at $6.6 billion, with Jude Bellingham, Kylian Mbappé, and VinÃcius Júnior united to help make it the world's most valuable international football team.
Manchester United is not far behind the 15-time European champions.
Despite finishing a disappointing eighth in the Premier League last season, Erik ten Hag leads a club valued at $6.55 billion while undergoing significant changes under new minority owner Sir Jim Ratcliffe.
But when it comes to the mighty dollar, the Cowboys are in a league of their own, far ahead of Real Madrid, Manchester United, and every other football club in existence.
Jones purchased the Cowboys in 1989 for $140 million.
At the time, it was seen as a risky move, and Jones was not immediately embraced by Dallas fans who had grown up with the traditional Tom Landry.
According to Sportico, thirty-five years later, the Cowboys are now valued at over $10 billion.
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