If you are wondering who is the most valuable sports team in the world, the answer as of 2026 is the Dallas Cowboys. Forbes values the NFL franchise at approximately $17 billion, making it the most valuable sports team in the world by its latest team valuation. The Cowboys have held the top spot among the world’s most valuable sports franchises for several years, despite not winning a Super Bowl since the 1995 season.
The Cowboys’ valuation is remarkable because it is based on much more than what happens on the football field. The franchise benefits from an enormous fan base, a globally recognized brand, lucrative sponsorship agreements, media revenue, premium seating, merchandising and one of the most recognizable stadiums in American sports.
Their financial dominance also shows why a team’s value is not necessarily determined by championships or recent performance. A franchise can be extremely valuable because of its commercial strength even when its on-field results are inconsistent.
The Dallas Cowboys are worth about $17 billion
Forbes’ 2026 valuation puts the Dallas Cowboys at $17 billion. That figure represents the team’s enterprise value, which incorporates equity and net debt and is based on the team’s current stadium arrangement.
The increase has been dramatic.
| Year | Dallas Cowboys valuation |
|---|---|
| 2020 | $5.7 billion |
| 2021 | $6.5 billion |
| 2022 | $8 billion |
| 2023 | $9 billion |
| 2024 | $10.1 billion |
| 2025 | $13 billion |
| 2026 | $17 billion |
According to Forbes, the Cowboys became the first sports team valued above $10 billion in 2024. Their valuation then reached $13 billion in 2025 before rising to $17 billion in 2026.
That growth illustrates how quickly sports franchise valuations have increased, particularly in the NFL.
Why are the Cowboys worth so much?
Several factors contribute to the Cowboys’ enormous valuation.
1. The Cowboys have an exceptionally strong brand
The Cowboys are one of the most recognizable sports franchises in the United States and have developed a reputation that extends well beyond the Dallas-Fort Worth area.
The team’s nickname, “America’s Team,” has helped establish a national identity. Even people who do not regularly follow the NFL are likely familiar with the Cowboys logo, uniforms and star branding.
That brand has commercial value.
A recognizable franchise can attract major sponsors, sell merchandise across the country and generate significant media attention. Brand strength can therefore increase a team’s value even when its recent sporting performance is not exceptional.
2. The NFL is extremely valuable
The Cowboys also benefit from being part of the National Football League.
NFL franchises receive substantial revenue from national media agreements, league partnerships and other shared commercial arrangements. The league’s enormous American television audience makes NFL ownership particularly attractive.
Forbes’ 2026 NFL valuations show how powerful the league has become. Every NFL team was valued at at least $8 billion in the 2026 ranking, according to Forbes.
The Cowboys sit at the top of that already valuable group.
3. AT&T Stadium is a major asset
The Cowboys play at AT&T Stadium in Arlington, Texas.
Forbes lists the stadium with a seating capacity of approximately 100,000 and a construction cost of about $1.2 billion. The stadium opened in 2009.
A modern stadium can generate money through premium seating, club areas, sponsorships, concessions, naming rights, events and other commercial activities.
AT&T Stadium has also become a destination in its own right, helping strengthen the Cowboys’ overall business.
4. Sponsorships generate significant revenue
Major sports franchises can earn substantial sums from corporate partnerships.
The Cowboys’ Forbes profile lists major sponsors and commercial partners including AT&T, American Airlines, Bank of America, Ford, PepsiCo and others.
These relationships demonstrate the commercial power of the Cowboys brand. Companies pay for exposure to the team’s audience, and successful sponsorship relationships can contribute significantly to franchise revenue.
5. The Cowboys generate enormous revenue
Forbes estimates that the Cowboys generated approximately $1.3 billion in revenue in the latest valuation period. It also estimates operating income of about $677 million.
Those figures help explain why investors place such a high value on the franchise.
Revenue is not the same thing as team value. A team’s valuation represents what the franchise itself is worth, while revenue measures money generated during a particular period.
However, consistently strong revenue can support a higher valuation because potential buyers are interested in the future economic earning power of the franchise.
Is Real Madrid the most valuable sports team?
No. Real Madrid is the world’s most valuable soccer team, but it is not the most valuable sports team overall.
Forbes’ 2026 soccer valuation puts Real Madrid at approximately $9.5 billion. That makes it the most valuable soccer club in the world for the fifth consecutive year.
Real Madrid is therefore an important comparison with the Cowboys.
| Team | Sport | 2026 valuation |
|---|---|---|
| Dallas Cowboys | NFL | $17 billion |
| Real Madrid | Soccer | $9.5 billion |
| Barcelona | Soccer | $7.5 billion |
| Los Angeles Dodgers | MLB | $7.8 billion |
The figures come from Forbes’ current team valuation data. The Dodgers’ valuation is listed at $7.8 billion, while Forbes values Barcelona at $7.5 billion and Real Madrid at $9.5 billion.
This comparison shows just how far ahead the Cowboys currently are.
Real Madrid has higher revenue than many teams
One interesting part of the comparison is that being the most valuable team does not necessarily mean generating the highest revenue every year.
Forbes reported that Real Madrid generated approximately $1.27 billion in revenue during the 2024-25 season, which was a record for a soccer club. That slightly exceeded the Cowboys’ $1.23 billion revenue figure from the 2024 NFL season in Forbes’ previous comparison.
Yet the Cowboys’ franchise valuation was substantially higher.
Why?
Valuation considers more than current revenue. It can also reflect profitability, league economics, future growth potential, market characteristics, stadium arrangements, debt and the prices investors are willing to pay for sports franchises.
What makes sports teams valuable?
The value of a professional sports team usually comes from several interconnected factors.
Media rights
Television and streaming contracts are extremely important to modern professional sports.
A league with huge audiences can negotiate valuable broadcasting agreements, which can increase the financial strength of its franchises.
Sponsorships
Major teams can sign partnerships with global companies. These agreements can involve stadium naming rights, uniforms, advertising, digital content and other forms of exposure.
Ticket sales
Ticket revenue remains important, particularly for teams with large stadiums and strong attendance.
Premium seating can be especially valuable because luxury suites, club seats and hospitality packages can generate significantly more revenue than ordinary tickets.
Merchandise
Jerseys, hats, collectibles and other products allow teams to monetize their brands outside the stadium.
A globally recognized team can sell merchandise to fans who may never attend a home game.
Stadium income
Stadiums can produce revenue from more than sporting events.
Concerts, corporate events, food and beverage operations, premium hospitality and sponsorships can all contribute to a team’s business.
Market size
The location of a franchise also matters.
Large metropolitan areas can provide bigger corporate markets, larger media audiences and greater opportunities for sponsorship and entertainment revenue.
Does winning championships make a team more valuable?
Winning can help, but championships are not the only factor.
The Cowboys demonstrate this particularly well.
Dallas has not won a Super Bowl since the 1995 season, yet Forbes continues to rank the franchise as the most valuable sports team in the world.
That does not mean sporting success is irrelevant.
Championships can increase fan engagement, merchandise sales, media attention and sponsorship opportunities. But investors also care about the long-term commercial potential of a franchise.
A team with a huge market, powerful brand and strong revenue streams can remain extremely valuable even during periods without championships.
How much did Jerry Jones pay for the Cowboys?
Jerry Jones purchased the Cowboys in 1989 for $150 million.
The difference between that purchase price and the team’s current valuation is extraordinary. Forbes now values the franchise at approximately $17 billion.
The increase reflects decades of growth in professional sports, the NFL’s commercial expansion, the development of the Cowboys brand and the franchise’s ability to generate revenue.
Jones’ ownership is therefore frequently discussed as one of the most successful long-term sports investments in terms of franchise appreciation.
Importantly, the $17 billion figure is a valuation, not cash that the owner has necessarily received. A team could be worth billions on paper without its owner selling it.
Who owns the Dallas Cowboys?
The Dallas Cowboys are controlled by Jerry Jones and his family.
Jones purchased the team in 1989 and has remained its owner and general manager. Forbes identifies the Cowboys as his most valuable holding.
Jones has played an unusually prominent role in the franchise’s business and football operations, making him one of the best-known owners in professional sports.
Are the Cowboys the most valuable NFL team?
Yes.
The Cowboys rank No. 1 in Forbes’ 2026 NFL team valuation list at $17 billion.
Their position at the top has become a long-running feature of professional sports finance. Forbes notes that the Cowboys have topped its most valuable NFL teams list since 2018.
The gap between the Cowboys and other NFL franchises has also become substantial as team valuations have surged.
Why are NFL teams so valuable?
The NFL has several structural advantages that help explain its enormous franchise valuations.
The league has a massive U.S. audience, highly valuable media rights, strong national sponsorships and a relatively limited number of franchises.
There are only 32 NFL teams. That scarcity matters.
If wealthy investors want to own an NFL franchise, there are very few opportunities available. Because teams rarely come onto the market, potential buyers can be willing to pay extremely high prices when one becomes available.
The league’s revenue-sharing structure also helps support the financial strength of its franchises.
Are sports teams good investments?
A high valuation does not automatically mean a sports team is a good investment for everyone.
Professional sports franchises require enormous amounts of capital, and ownership can involve substantial operating expenses, player costs, stadium commitments and other risks.
Forbes reported in 2026 that average valuations in the major North American sports leagues have risen dramatically over the long term. It also noted that investors are increasingly interested in sports as a type of trophy asset.
However, buying a sports team is very different from purchasing a publicly traded stock. Most professional teams are privately held, and ownership stakes can be difficult to buy or sell.
Could another team become more valuable than the Cowboys?
Absolutely.
Team valuations change over time.
Real Madrid, Barcelona, the Los Angeles Dodgers, New York Yankees, Los Angeles Lakers and other globally recognized franchises have enormous commercial value. A major transaction, new stadium, media-rights development or change in investor demand could alter the rankings.
For now, however, the Cowboys have a substantial lead.
Their $17 billion 2026 valuation is far above Real Madrid’s $9.5 billion valuation, the highest among soccer clubs.
FAQ
who is the most valuable sports team in the world?
The Dallas Cowboys are the most valuable sports team in the world according to Forbes’ 2026 valuation, with an estimated value of $17 billion.
What is the Dallas Cowboys worth?
Forbes values the Dallas Cowboys at approximately $17 billion in 2026.
Is Real Madrid worth more than the Dallas Cowboys?
No. Real Madrid is the world’s most valuable soccer team at approximately $9.5 billion, while Forbes values the Dallas Cowboys at $17 billion.
Which soccer team is the most valuable?
Real Madrid is the most valuable soccer team in the world in Forbes’ 2026 ranking, at approximately $9.5 billion.
Who owns the Dallas Cowboys?
Jerry Jones and his family control the Dallas Cowboys. Jones purchased the team for $150 million in 1989.
Why are the Cowboys worth so much?
Their value comes from the strength of the Cowboys brand, NFL media and commercial revenue, sponsorships, merchandise, stadium income, market size and the scarcity of NFL franchises.
Has Dallas always been the most valuable sports team?
No. Sports-team valuations have changed considerably over time. The Cowboys became the first sports team valued above $10 billion in 2024 and reached $13 billion in 2025 before rising to $17 billion in 2026.
Conclusion
So, who is the most valuable sports team in the world? The Dallas Cowboys currently hold that distinction. Forbes’ 2026 valuation puts the franchise at approximately $17 billion, making it significantly more valuable than Real Madrid, the world’s most valuable soccer club at $9.5 billion.
The Cowboys’ position is not based simply on football success. Their enormous valuation reflects the power of the NFL, the strength of the Cowboys brand, AT&T Stadium, sponsorships, media revenue, merchandise, premium seating and the scarcity of professional sports franchises.
The bigger lesson is that a sports team’s financial value is not determined solely by trophies. A powerful brand and a highly profitable sports business can be worth billions even when the team has not won its league championship for decades.