Are the Dallas Cowboys Still the World's Most Valuable Team?

The Dallas Cowboys have once again secured their title as the world's most valuable sports team, according to Forbes' latest annual ranking. With a valuation of $13 billion (£9.7 billion), the Cowboys lead a list that predominantly features NFL franchises, reflecting the growing financial power of American sports teams.

Last updated: 26 October 2023 (BST)

What’s happening now

The Dallas Cowboys have topped the Forbes list of the world's most valuable sports teams for the seventh consecutive year. Their valuation has surged by 29% from the previous year, highlighting the increasing economic strength of the NFL. Following the Cowboys in the rankings are the Golden State Warriors, valued at $11 billion (£8.2 billion), and the Los Angeles Rams at $10.5 billion (£7.8 billion). This trend underscores the dominance of American sports leagues, particularly the NFL, in the global sports market.

Key takeaways

• The Dallas Cowboys remain the most valuable sports team globally with a valuation of $13 billion (£9.7 billion).
• The NFL continues to dominate the rankings, with 30 of the 32 teams in the top 50.
• Valuations across the top 50 teams have increased by 22% from last year, totalling over $353 billion (£264 billion).

Timeline: how we got here

Since the last Forbes valuation report, which was published in 2024, several significant milestones have influenced the current rankings:

• 2016: The Dallas Cowboys surpassed Real Madrid to become the most valuable sports team.
• 2021: NFL teams began to see a substantial rise in valuations due to increased media rights deals.
• 2023: The Cowboys' valuation increased by 29%, reflecting a broader trend of rising valuations across sports franchises.

What’s new vs what’s known

New today/this week

This year's report revealed a significant increase in the valuations of several franchises, driven primarily by soaring media rights fees. The Dallas Cowboys' growth illustrates the potential for NFL teams to capitalise on lucrative broadcasting agreements. Additionally, only four football clubs made it into the top 50, indicating a shift in financial power towards American sports leagues.

What was already established

It has been well-established that the NFL is a dominant force in sports economics, particularly in North America. The consistent rise in the Cowboys' valuation since 2016 has set a benchmark for other teams, illustrating the financial viability of the NFL in comparison to European football clubs.

Impact for the UK

Consumers and households

While the rankings primarily reflect American sports, the implications extend to UK sports fans as well. The increasing revenues from sports leagues can influence the international broadcasting rights and the accessibility of American sports in the UK. Fans may see more NFL games broadcasted, enhancing the viewing experience.

Businesses and jobs

The rise in valuations, particularly for NFL teams, suggests a robust market for sponsorships and partnerships. UK businesses looking to engage with the American sports market may find opportunities for collaboration, potentially leading to job creation in related sectors such as marketing and sports management.

Policy and regulation

The financial growth of these franchises may prompt discussions around regulation and fair play, particularly as the gap between the highest-valued teams and others widens. This could lead to potential changes in policy for sports organisations operating in the UK, particularly for those seeking to enhance their competitive edge.

Numbers that matter

• 30 of the 32 NFL teams are in the top 50 most valuable sports teams.
• The Dallas Cowboys are valued at $13 billion (£9.7 billion), up 29% from last year.
• The total worth of the top 50 teams is $353 billion (£264 billion), reflecting a 22% increase from 2024.
• Real Madrid is valued at $6.75 billion (£5 billion), ranking 20th overall.
• Manchester United is valued at $6.6 billion (£4.9 billion), sitting joint 24th with the Tampa Bay Buccaneers.

Definitions and jargon buster

• Valuation: The estimated worth of a team based on various financial metrics, including revenue, profit, and marketability.
• NFL: National Football League, the professional American football league comprising 32 teams.
• Franchise: A sports team that is granted the rights to operate within a specific league.

How to think about the next steps

Near term (0–4 weeks)

Fans and sports analysts should monitor the potential impact of these valuations on broadcasting deals, especially as the NFL season progresses. Increased media exposure may lead to more games broadcasted in the UK.

Medium term (1–6 months)

Expect to see shifts in sponsorship opportunities as businesses capitalise on the growing popularity of NFL teams. This may lead to new partnerships and collaborations within the sports industry.

Signals to watch

• Changes in broadcasting rights agreements for NFL games in the UK.
• New sponsorship deals announced by NFL teams.
• Trends in attendance and merchandise sales for NFL games in the UK.

Practical guidance

Do

• Stay informed about the NFL's broadcasting schedule to catch more games.
• Explore opportunities for engagement with NFL-related businesses or events.

Don’t

• Underestimate the growing influence of American sports on the UK market.
• Ignore potential investment opportunities in sports-related sectors.

Checklist

• Check the latest NFL game schedules for UK broadcast times.
• Follow updates on NFL team sponsorships and partnerships.
• Engage with local businesses promoting NFL merchandise.
• Monitor social media for announcements regarding NFL events in the UK.
• Keep an eye on the performance of top teams in the current season.

Risks, caveats, and uncertainties

While the growth in valuations is promising, it is essential to consider that these figures can fluctuate based on market conditions and economic factors. Changes in consumer behaviour, the impact of global events, and shifts in sports viewership could all influence future valuations. Moreover, while the NFL's dominance is apparent, the competition from European football clubs remains significant and could impact the landscape in unpredictable ways.

Bottom line

The continued dominance of the Dallas Cowboys as the most valuable sports team highlights the financial prowess of the NFL and American sports in general. As valuations increase, UK fans should prepare for more extensive engagement with American sports, while businesses may find new opportunities in this lucrative market.

FAQs

Why are the Dallas Cowboys valued at $13 billion?

The Dallas Cowboys' valuation stems from their extensive brand appeal, lucrative media rights agreements, and strong merchandise sales, making them the most valuable sports team globally.

How many NFL teams are in the top 50 sports teams?

Thirty of the 32 NFL teams are featured in the top 50 most valuable sports teams, showcasing the league's financial strength compared to other sports.

What factors contribute to the rising valuations of sports teams?

Factors include increased media rights fees, sponsorship deals, and overall growth in sports viewership and engagement, particularly for leagues like the NFL.