Which company was Forbes’ most valuable sports team in 2019?

The Dallas Cowboys were Forbes’ most valuable sports team in 2019.

Forbes valued the National Football League franchise at about $5 billion, making it the first sports team to reach that estimated valuation in the magazine’s annual team ranking. The Cowboys’ value was supported by strong commercial revenue, a large national audience, sponsorships and the financial structure of the NFL.

The franchise had held the top position in Forbes’ sports-team valuations for several years. Owner Jerry Jones purchased the Cowboys in 1989, and the team’s brand grew into one of the most recognizable in global sport, even during seasons without a Super Bowl victory.

Forbes’ valuation is an estimate of enterprise value, not the team’s annual profit and not the personal fortune of its owner. The ranking compares organizations across sports. Real Madrid, the New York Yankees and other major clubs regularly appear near the top, but the Cowboys led the 2019 edition.