The Pittsburgh Steelers have dropped two spots in Sportico's annual ranking of the most valuable National Football League franchises. 

The Steelers are ranked the 17th most valuable franchise in this year's ranking as Sportico says the organization is worth $6.51 billion, a 17% increase in their value compared to last year. 

Despite dropping two spots in the rankings, the Steelers' value has increased just over $1 billion since last year. 

Sportico lists the Dallas Cowboys as the No. 1 most valuable team at $12.8 billion. 

The most valuable teams from last year are unchanged with the Cowboys, the Los Angeles Rams, the New York Giants, the New England Patriots, and the San Francisco Giants rounding out the top five. 

While the Steelers dropped two spots, they still remain the most valuable among teams in the AFC North Division, ahead of:

• the Cleveland Browns, 23rd most valuable at $6.14 billion
• the Baltimore Ravens, 24th most valuable at $6 billion
• the Cincinnati Bengals, 32nd most valuable at $5.5 billion

The average value of an NFL franchise currently sits at $7.13 billion, according to Sportico's valuations.