Cowboys become first pro sports team valued at over $10 billion

The Dallas Cowboys have become the first professional sports team with a value of over $10 billion on Sportico, which released its 2024 NFL team valuations Tuesday.

The Cowboys were valued at $10.32 billion, a stunning jump of over $1 billion from the $9.2 billion mark in February, which Sportico valued the team at when choosing the most valuable franchises across all major sports.

Sportico pointed to data indicating that “America’s Team” remains exceedingly popular despite its on-field postseason disappointments in recent years. Fans did not appear to be deterred by the Cowboys’ stunning upset loss to the Green Bay Packers in the wild-card round of last season’s playoffs, renewing season tickets for 2024 at the highest rate in franchise history. Dallas has made the playoffs in three straight seasons and won the NFC East with a 12-5 record last year.

No other NFL team even reaches $8 billion on Sportico’s list. The next highest-valued team is the Los Angeles Rams at $7.79 billion, edging out the New York Giants at $7.65 billion for second place. That’s the only change in the top six from Sportico’s NFL rankings last year, with the New England Patriots ($7.31 billion), San Francisco 49ers ($6.86 billion) and New York Jets ($6.8 billion) rounding out the group.

The biggest riser in the top 10 is the Miami Dolphins at No. 7. The Dolphins are valued at $6.76 billion, an increase of 29% and good enough to jump five spots in Sportico’s rankings. The Dolphins have made several upgrades in and around Hard Rock Stadium over the past decade, which has contributed to their rise. A major factor has been a Formula One racetrack set around the stadium, which has hosted multiple major events from the popular racing circuit.

According to USA Today, team owner Stephen Ross rebuffed a $10 billion offer for ownership of the Dolphins, Hard Rock Stadium and the Formula One Miami Grand Prix earlier this year.

The Washington Commanders fell three spots amid their organization-wide overhaul after transitioning from the ownership of Dan Snyder to that of the group led by Josh Harris. Harris’ group, which also includes NBA legend Magic Johnson, bought the team for $6.05 billion last year. Despite the three-spot fall to $6.3 billion, the Commanders remained in the top 10 of Sportico’s latest rankings. That means that the entire NFC East is represented among Sportico’s 10 most valuable NFL franchises — the Cowboys at No. 1, Giants at No. 3, Philadelphia Eagles at No. 8 ($6.75 billion) and Commanders at No. 10. Check out the full list below:

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