Dallas Cowboys are first sports team valued at $10 billion, Sportico estimates

Jerry Jones has already won before a single NFL game is played this season, and that would be in the race to own the world’s first sports team valued at more than $10 billion.

Sports business publication Sportico says the value of North Texas’ NFL team has entered 11-digit territory, gaining about $1 billion in value since February and coming in at $10.32 billion.

“America’s Team” far outpaces other NFL teams, with its valuation more than $2.5 billion greater than that of the Los Angeles Rams (who the team is scrimmaging this week). The Rams have the league’s second-highest valuation at $7.79 billion.

Also exceeding the $7 billion mark are the New York Giants, valued at $7.65 billion, and the New England Patriots, at $7.31 billion.

“The Cowboys operate on a different scale than any other NFL team,” Sportico’s Kurt Badenhausen wrote.

It’s a pretty good return on investment for Jones, who bought the team in 1989 for $150 million, a record at the time.

Sportico’s NFL team value rankings come just before the start of a season in which expectations for the Cowboys are high. NFL.com puts the team’s over-under at 10.5 wins, the same as their division rival, the Philadelphia Eagles.

The Cowboys outpace other teams in value because they made a whopping $510 million in estimated operating profit in 2023, Sportico said. That’s nearly twice that of the New England Patriots, who had tallied the next-highest operating profit, $260 million.

Forbes, the other major team valuing service, put the Cowboys’ value at $9 billion in April, an increase of 80% over the last five years. While Sportico didn’t rank teams in other sports, Forbes did. It most recently ranked baseball’s New York Yankees at No. 2 with a value of $7.1 billion and the NBA’s Golden State Warriors at No. 3 with a value of $7 billion. Forbes typically releases its own ranking of NFL teams before the season’s start in early September.

Forbes ranked Spanish La Liga soccer team Real Madrid as the most valuable non-U.S. team at $6.07 billion.

Statista estimates the Texas Rangers, owned by Ray Davis, are worth $2.4 billion. It puts the Dallas Stars’ value at $1.08 billion. Meanwhile, Forbes reports the Dallas Mavericks are worth $4.5 billion. FC Dallas is worth $520 million, Sportico estimates.

The Cowboys may be able to push their valuation even higher if they can earn a trip to Super Bowl LIX in New Orleans. The Cowboys haven’t been to the NFL’s championship game in 28 years.

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