Despite not having reached the Super Bowl in 20 years, the Dallas Cowboys were ranked the most valuable NFL franchise for the 12th-straight year, according to Forbes’ 2018 list.
Worth an estimated $5 billion, the Cowboys are the first sports organization in the world to be valued at more than $5 billion. The Cowboys are also the world’s most-valuable franchise for the third-straight year.
Joining Dallas in the top 5 are the New England Patriots ($3.8 billion), New York Giants ($3.3 billion), Los Angeles Rams ($3.2 billion) and Washington Redskins ($3.1 billion).
The Arizona Cardinals came in at No. 23 on the list with a valuation of $2.15 billion, with both figures matching the 2017 numbers.
Forbes also stated that the Cardinals have revenue of $380 million and an operating income of $74 million.
At $1.6 billion, the Buffalo Bills were ranked last at No. 32 on the list of NFL organizations.