The Dallas Cowboys are the first sports franchise worth $4 billion, according to Forbes.
In its annual rankings, Forbes placed the Cowboys ahead of Real Madrid and Barcelona after the NFL team had a 25 percent increase in value.
This increase is in spite of the fact that the Cowboys had a horrible season in 2015. This is proof that winning is not everything in the big business of professional sports.
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Champions League winner Real dropped to the second spot at $3.65 billion, followed by its arch-rival Barcelona at 3.55 billion.
The rest of the top 10 has the New York Yankees ($3.4 billion) in fourth place, followed by Manchester United ($3.32 billion), the New England Patriots ($3.2 billion), New York Knicks ($3.0 billion), Washington Redskins ($2.8 billion), New York Giants ($2.8 billion), and tied for 10th, the Los Angeles Lakers and San Francisco 49ers ($2.7 billion).
The average current value of the 50 most valuable teams is $2.2 billion, the highest to date, also a 25 percent increase over last year.