In the latest round of Sportico’s NFL team valuations, the Cowboys once again held onto their crown as the most valuable team in the most valuable league in the world with a record valuation of $12.8 billion, a 24% increase from last year.

Team owner Jerry Jones, who revealed a lengthy cancer battle earlier Wednesday, purchased the team for $140 million in 1989, so the new valuation represents a 9043% increase from the original price. This comes a year after Dallas became the first team to crack the $10 billion club, where the Los Angeles Rams ($10.43 billion) and New York Giants ($10.25 billion) have since joined.

As a whole, the NFL continued to see skyrocketing values with an average of $7.13 billion, up 20% from a year ago. Meanwhile, the average NBA team was valued at $4.6 billion, the average MLB team at $2.82 billion and the average NHL team at $1.79 billion.

The league’s least valuable team: the Cincinnati Bengals, at $5.5 billion. The full list can be read below.

While the Cowboys are doing pretty well in the business department, the football department remains a different story, as ever. The team still hasn’t reached an NFC championship game since its last Super Bowl title following the 1995 season, by far the longest drought in the NFC. The next most recent team is the Chicago Bears in 2010.

The Cowboys made the playoffs in three straight seasons from 2021 to 2023, but stumbled to a 7-10 record last year, which led to the ouster of head coach Mike McCarthy. The team’s previous offensive coordinator Brian Schottenheimer was controversially promoted to replace him, and will be attempting to break through with a roster similar to last year’s.

Part of the reason the Cowboys are so valuable is they command attention from the football world at all times, for good or bad reasons. The past couple weeks perfectly exemplify that, from the trailers for the Netflix docuseries “America’s Team: The Gambler and His Cowboys” to star pass-rusher Micah Parson’s trade request. The latter has become the story of the preseason, with Jones regularly facing reporters with alternating optimism and pessimism.

Jones has become an increasingly controversial figure among Cowboys fans as the team’s Super Bowl titles recede further into the past and the fact he’s now sitting on an 11-figure property isn’t going to make those people any happier. A Super Bowl is really the only way to change that, and it can definitely be said the Cowboys won’t lack for resources there.

NFL’s 5 most valuable teams, per Sportico

1. Dallas Cowboys, $12.8 billion
2. Los Angeles Rams, $10.43 billion
3. New York Giants, $10.25 billion
4. New England Patriots, $8.76 billion
5. San Francisco 49ers, $8.6 billion
6. Philadelphia Eagles – $8.43 billion
7. Miami Dolphins – $8.25 billion
8. New York Jets – $8.11 billion
9. Las Vegas Raiders – $7.9 billion
10. Washington Commanders – $7.47 billion
11. Chicago Bears – $7.45 billion
12. Houston Texans – $7.17 billion
13. Atlanta Falcons – $7.05 billion
14. Seattle Seahawks – $6.59 billion
15. Denver Broncos – $6.55
16. Kansas City Chiefs – $6.53 billion
17. Pittsburgh Steelers – $6.51 billion
18. Green Bay Packers – $6.48 billion
19. Tampa Bay Buccaneers – $6.47 billion
20. Minnesota Vikings – $6.28 billion
21. Los Angeles Chargers – $6.21 billion
22. Tennessee Titans – $6.2 billion
23. Cleveland Browns – $6.14 billion
24. Baltimore Ravens – $6.0 billion
25. Detroit Lions – $5.88 billion
26. Buffalo Bills – $5.87 billion
27. Carolina Panthers – $5.76 billion
28. Indianapolis Colts – $5.72 billion
29. Arizona Cardinals – $5.66 billion
30. New Orleans Saints – $5.63 billion
31. Jacksonville Jaguars – $5.57 billion
32. Cincinnati Bengals – $5.5 billion