Are the Dallas Cowboys still the most valuable sports franchise?

The Dallas Cowboys are the most valuable franchise in all of professional sports for 2021.

The return on investment owner Jerry Jones has made since purchasing the Dallas Cowboys back in 1989 is absolutely mind-boggling.

In Forbes’ most valuable sports franchise for 2021, the Cowboys come out on top of any professional team in the world. The Cowboys are valued at $5.7 billion, edging out the MLB’s New York Yankees ($5.2 billion), the NBA’s New York Knicks ($5 billion), FC Barcelona ($4.76 billion) and Real Madrid ($4.75 billion) for the top five most valuable franchises in professional sports in 2021.

It is hard to believe Jones paid only $150 million to buy the Cowboys from Bum Bright in 1989.

Dallas Cowboys are the most valuable franchise in all of professional sports

While it makes sense an NFL franchise could top the list, two things really jump off the page with the Cowboys being No. 1 this year. One, Dallas is a major media market in the United States, but not in the top four domestically. This is why the Knicks and the Yankees are as valued as they are. And two, the Cowboys have not been a championship-caliber team for the better part of 25 years.

That is not to say the Cowboys are a poorly-run franchise in the slightest, but one would think the most valuable franchise in all of professional sports would have some championship pedigree in the last quarter century. All the while, this is the biggest brand in the United States’ biggest professional sports league. Win or lose, the Cowboys have become such a cash cow for Jones.

Once the Cowboys can get back to a Super Bowl, who knows how valuable they will become?