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Forbes releases most valuable sports franchises ranking. We'll let you guess No. 1.

Historically, the Cowboys have held a lead in value over the New York Yankees, but there was a shuffling in the rankings this year.
Credit: (AP Photo/Terrance Williams)
Dallas Cowboys owner Jerry Jones walks off the field before an NFL football game against the Washington Commanders, Nov. 24, 2024, in Landover, Md.

DALLAS — Take solace, Cowboys fans: The franchise is the back-to-back-to-back-to-back-to-back-to-back-to-back-to-back-to-back champions in something.

Just don't expect a parade.

Forbes on Thursday dropped their annual rankings of the most valuable franchises in sports, and the Cowboys once again topped the list, with an estimated valuation of $10.1 billion, up 12% from 2023. The Forbes rankings are in step with Sportico's rankings released earlier this year, which also had the Cowboys at No. 1 at $10.32 billion.

Jerry Jones' club has now topped the Forbes rankings for nine years in a row. Historically, the Cowboys have held a lead in value over the New York Yankees, but there was a shuffling in the rankings this year.

The Golden State Warriors rose from No. 3 on the 2023 rankings to No. 2 this time around, with an estimated value of $8.8 billion. The Los Angeles Rams went from No. 5 in 2023 to No. 3 in 2024, with an estimated value of $7.6 billion. And the Yankees, who just lost the World Series to the Los Angeles Dodgers, slipped from No. 2 in 2023 to No. 4 in 2024, with an estimated value of $7.55 billion.

The New York Knicks rounded out the top five, with an estimated value of $7.5 billion.

But really, what's a half-billion here or there?

The New York and L.A. franchises have long littered the top of the Forbes rankings, with the one notable exception being the Cowboys. The Golden State Warriors have been a mainstay in the top 10 in the last decade or so, as the Steph Curry-era dynasty made them a national brand.

The only other North Texas franchise to make the top 50 was the Dallas Mavericks, who checked in at No. 42 with an estimated value of $4.7 billion. The Mavericks went through a change in majority ownership late last year, when Mark Cuban sold a large chunk of his stake in the team to the Adelson casino magnate family. 

The top 50 franchises were dominated by the NFL; 29 of the 32 NFL teams made the top 50. The NBA accounted for 12 spots on the rankings. Three baseball teams -- the Yankees, Dodgers and the Red Sox -- made the list.

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