The Dallas Cowboys not only are the NFL's most valuable franchise for the 11th straight year, they are the top-valued team in the world.
According to Forbes magazine, their worth increased 14 percent in the last year, reaching $4.8 billion. That's more than $1 billion ahead of the Patriots ($3.7 billion).
Rounding out the NFL's top five are the Giants ($3.3 billion), Redskins ($3.1 billion) and 49ers ($3.05 billion).
On average, an NFL franchise is worth $2.52 billion, an increase of 8 percent since 2016. Much of that can be attributed to rights fees and new stadiums or stadium renovations. Only five of the NFL's 32 teams are valued at less than $2 billion, including the Tampa Bay Buccaneers ($1.97 billion); Cleveland Browns $1.95 billion); Cincinnati Bengals ($1.8 billion); Detroit Lions ($1.7 billion); and Buffalo Bills ($1.6 billion).
Forbes reported earlier this year that the average baseball franchise is worth $1.54 billion.
The Cowboys have revenue of roughly $840 million and generated $350 million in profits, powered by merchandise sales and expanded business resulting from a new practice facility, according to Forbes.
Under owner Jerry Jones, the Cowboys are also exploring other business opportunities. Jones and several partners in 2016 launched Blue Star Sports, which helps run youth sports events and offers sports apps.
The Falcons had the highest increase in value, up 16 percent to more than $2.47 billion. The team just moved into a $1.5 billion stadium in Atlanta.
Globally, according to Forbes' rankings of July, the Cowboys are followed by baseball's New York Yankees at $3.7 billion, a figure the Patriots have now tied. Next in those rankings are three European soccer giants: Manchester United at $3.69 billion, FC Barcelona at $3.64 billion and Real Madrid at $3.58 billion.
The value of most NFL teams has continued to rise despite a dwindling. According to Pivotal Research, viewership for the NFL was down 14 percent on a year-over-year basis during the first week of the 2017-18 season. That's the lowest level of same-week viewing since 2009.