The Cowboys, while not mathematically out of playoff contention this season, will almost certainly extend their championship drought to a 29th year.
Still, they continue their dynasty as the most valuable sports franchise on the planet… until now.
Forbes The annual list of the NFL’s most valuable teams has come out, and the Cowboys have come out on top for the ninth year in a row, separating them from everyone else by a huge margin.
The team that Jerry Jones bought for a then-record $140 million in 1989 is now worth $10.1 billion. That number is up 12% from last year and makes the club the first franchise – in any sport – to hit a staggering eleven.
Dallas was also the first team to reach the $5 billion threshold (in 2018) and the $6 billion mark in 2021. To further illustrate how quickly the NFL’s coffers have exploded in recent years, consider that even the Cincinnati Bengals, the league’s least valuable franchise for 2024, have now reached $4 billion, a number that was an incredible record when the Cowboys hit… Just nine years ago.
The Cowboys’ current $10.1 billion worth is $2.5 billion behind the second-ranked team, the Los Angeles Rams, and More than double 11 other NFL teams.
Of note, though: The next group of clubs includes Baltimore, Buffalo and Detroit, teams that all have a better chance to win a ring than the 5-8 Cowboys…as well as the Kansas City Chiefs, who are looking to win their third straight Super Bowl this season.
One has to wonder if Jones will trade a sliver of his valuation for the success these teams are enjoying this year. (The most jaded fans assume he won’t.)
Another breakdown of the Cowboys’ $10.1 billion valuation shows that about $800 million in 2023 comes from local revenue, meaning ticket sales, sponsorships, merchandise and other flows specific to the Cowboys. No other NFL team even tops $400 million.
About $4 billion of the $10.1 billion total is the Cowboys’ share of revenue shared among the league’s 32 teams. Dallas’ market size accounts for another $2.27 billion. AT&T Stadium as a venue is valued at $1.99 billion, and the Dallas Cowboys brand itself contributes $1.91 billion.
That last number is especially impressive. No other NFL team even comes close to Dallas’ $1.91 billion; The league’s second-most valuable “brand” to the New England Patriots, at $694 million, but that’s still More than 2.5 times Less than the cowboys.
The Cowboys’ operating income also tops the league, clocking in at $564 million; The Rams spent essentially half that, at $286 million.
But they’re still turning an absurd profit. when Forbes In 1998, the NFL’s top team by valuation, Dallas led the pack at $413 million. This year’s $10.1 billion represents a mind-boggling 2,346% increase. Try getting that kind of ROI on something else entirely. It’s no wonder that private equity firms are now scrambling to own even the smallest pieces of ownership offered by some clubs.
But those astronomical dollar figures pale in comparison to the number that means the most in professional football: five. How many Super Bowl trophies stand in the lobby of Cowboys team headquarters? This total has not changed since 1996.
Until it does, no matter how many numbers and commas this year’s bottom line has, the word assessment Of little value to Cowboys fans, who continue to wait for their team to grace the cover of something other than a money magazine.
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This article originally appeared on Cowboy Wire: Cowboys become first sports franchise to reach $10 billion valuation
