The Dallas Cowboys have the highest net worth among NFL franchises according to the annual Forbes list. The global media company unveiled the top 10 of their findings, sparing the other 20 teams any ridicule (you know who you are). To no one's surprise, the top 10 spots are occupied by teams that figure in major US markets. The Dallas Cowboys' lofty evaluation raise the league average to $2.57 billion, exponentially higher than franchises in other sporting leagues, even as the NFL is experiencing a financial downturn. Jerry Jones deliberately turned his franchise into "America's Team" by chasing high profile free agents and embedding the team's brand story with outwardly flashy and charismatic players like Michael Irvin, Deion Sanders, and Terrell Owens. The Cowboys have earned their berth for the 12th year running. Some of those personnel decisions came at a veritable cost (on the field). The consummate businessman that is Jerry Jones bet that his team's short dynastic run would be enough to propel his ownership stake for year's to come. The Top 10 Most Valuable Teams in the NFL (Numerical value in Billions) 1. Dallas Cowboys - Jerry Jones (5.0) 2. New England Patriots - Robert Kraft (3.8) 3. New York Giants - John Mara, Steven Tisch (3.3) 4. Los Angeles Rams - Stanley Kroenke (3.2) 5. Washington Redskins - Daniel Snyder (3.1) 6. San Francisco 49ers - Denise DeBartolo York, John York (3.05) 7. Chicago Bears - McCaskey family (2.9) 8. New York Jets - Johnson family (2.85) 9. Houston Texans - Robert McNair (2.80) 10. Philadelphia Eagles - Jeffrey Lurie (2.75)<doc-sep>Being the owner of America's team seems to be paying off handsomely for Jerry Jones. For the 12th consecutive year, the Cowboys are No. 1 on Forbes' annual list of the NFL's most valuable franchises, and this year, his team has set a record. The Cowboys are worth an estimated $5 billion, which is $1.2 billion more than the next team on the list and marks the first time that any sports team in the world has cracked the $5 billion mark. Although the Cowboys haven't been to a Super Bowl in more than 20 years, that doesn't seem to be hurting the value of them, which has basically been printing money for Jones since he bought it for $140 million in 1989. The Cowboys' new valuation means that they are now the world's most valuable franchise for the third straight year. According to Forbes, the five most valuable franchises in the world are the Cowboys ($4.8 billion), Manchester United ($4.23 billion, Real Madrid ($4.09 billion), Barcelona ($4.064 billion) and the New England Patriots ($3.8 billion). The fact that two NFL teams are in the top five of the worldwide list shouldn't come as much of a shock because the value of an NFL franchise has basically been skyrocketing since 2013. Four years ago, there was only one team worth over $2 billion: the Cowboys. This year, 28 of the league's 32 teams are worth over $2 billion, and two of the teams that aren't -- the Browns and Bengals -- will likely hit that number in the near future. The Buccaneers joined the $2 billion club this year after missing out in 2017. One notable aspect of this year's valuations is that Los Angeles doesn't seem to be treating its two news teams equally. Although the Rams got a huge boost in value when they moved to L.A. in 2016 -- they jumped from the 28th most valuable team in 2016 to the fourth most valuable this year -- the same can't be said for the Chargers. After playing their first full season in L.A., the Chargers value didn't go up at all. The team was worth $2.275 billion in 2017 and is worth the same number in 2018. However, they did get a slight bump from $2.08 billion to $2.275 billion when they initially announced their move following the 2016 season. On the other hand, the Rams have skyrocketed in value since moving to L.A., going from $1.45 billion in 2015 to $2.9 billion in 2016 to $3 billion in 2017 to $3.2 billion in 2018. The team's 6.6 percent increase over last year's was the biggest jump made by any team this year. Here's a look at the list of the NFL's most valuable franchises. You'll notice that the Cowboys ($5 billion) are nearly worth more than the Bengals, Lions and Bills combined ($5.1 billion). NFL's 10 Most Valuable franchises 1. Dallas Cowboys ($5 billion) 2. New England Patriots ($3.8 billion) 3. New York Giants ($3.3 billion) 4. Los Angeles Rams (3.2 billion) 5. Washington Redskins ($3.1 billion) 6. San Francisco 49ers ($3.05 billion) 7. Chicago Bears ($2.9 billion) 8. New York Jets ($2.85 billion) 9. Houston Texans ($2.8 billion) 10. Philadelphia Eagles ($2.75 billion) Bottom Five 28. Tampa Bay Buccaneers ($2 billion) 29. Cleveland Browns ($1.95 billion) 30. Cincinnati Bengals ($1.8 billion) 31. Detroit Lions ($1.7 billion) 32. Buffalo Bills ($1.6 billion) To see the entire list from Forbes, be sure to click here.<doc-sep>Ron Jenkins/Associated Press The Dallas Cowboys remain atop the NFL mountain in terms of franchise value. Per the 2018 NFL team valuations by Forbes, the Cowboys lead the way by a wide margin at $5 billion. The New England Patriots ($3.8 billion), New York Giants ($3.3 billion), Los Angeles Rams ($3.2 billion) and Washington ($3.1 billion) round out the top five. The Rams had the biggest one-year jump in value with a seven percent increase from 2017. They also have the largest debt/value percentage (45), with some of that due to the $4.9 billion cost to build a new stadium expected to open in 2020. The defending Super Bowl champion Philadelphia Eagles checked in at No. 10 with a value of $2.75 billion. Per Forbes' official press release, the Cowboys have been the most valuable NFL franchise for 12 straight years and are the first sports team to reach the $5 billion valuation. Despite modest success on the field in recent years—they have made just two playoff appearances since 2010—the Cowboys dwarf every other NFL team with $864 million in revenue. The Patriots are a distant second at $593 million. On the other side of the spectrum, the Buffalo Bills are the least valuable franchise at $1.6 billion. The Oakland Raiders generated the least amount of revenue ($335 million), while the Detroit Lions' operating income of $4.1 million is nearly $20 million less than any other team. Video Play Button Videos you might like The average value of an NFL franchise in 2018 is $2.57 billion.<doc-sep>
The Dallas Cowboys organization extended its lead as the most valuable NFL franchise on Forbes' annual list, increasing 4% from last year to reach an estimated $5 billion value while continuing its lead over the rest of the league for the 12th consecutive year. Owner Jerry Jones' Cowboys are the first sports team to eclipse the estimated $5 billion mark, according to Forbes, despite not playing in a Super Bowl in 23 years. The New England Patriots came in at second place, valued at an estimated $3.8 billion. The Rams showed the largest increase over the last year, jumping 7% to be valued at an estimated $3.2 billion — good enough to sneak into the top three on Forbes' 21st edition of the value list. Values for both the Rams and Oakland Raiders are based on estimates of revenue for their yet-to-be-finished new stadiums. More:USA TODAY Sports' Week 3 NFL picks: Steelers-Buccaneers, NFC South showdown on menu More:Nine questions for NFL Week 3: Will Patrick Mahomes stay red hot? The Rams are expected to be playing in a new Inglewood, California, stadium for the start of the 2020 season, while the Raiders are expected to play in a new stadium in Las Vegas by 2020. The New York Giants (estimated $3.3 billion) and Washington Redskins (estimated $3.1 billion) also made the top five, while the sixth-place San Francisco 49ers also reached the $3 billion mark at $3.05 billion. As a whole, NFL team values increased by 2 percent, the slowest yearly growth since 2010, according to Forbes. The average NFL team is worth an estimated $2.57 billion.