The Dallas Cowboys remain atop the Forbes list of most valuable sports teams – a position they have held since 2016 while being valued at an incredible $9.2 billion.

That’s significantly higher than the second-placed New York Yankees ($7.1 billion), and above soccer franchises Real Madrid, Barcelona, Manchester United, and Liverpool.

Incredibly, the Cowboys were purchased for just a small fraction of this price, when owner Jerry Jones paid $150 million to become the team’s owner with the franchise haemorrhaging money. Jones has admitted that after he purchased the struggling team, it would cost him $1 million per month – losing money rapidly while they continued to struggle on the field.

At the Cowboys’ old Texas Stadium, they had been struggling to sell seats with dozens of suites left empty. The Cowboys last Super Bowl had come 12 years prior to him becoming owner, with them having four consecutive losing seasons to close out the 1980s.

Jones knew he’d have to do something to quickly turn their fortunes around, making some big free agency moves to the franchise while nailing their first-round pick in three consecutive drafts – getting quarterback Troy Aikman, wide receiver Michael Irvin and running back Emmitt Smith to form “The Triplets”.

The three of those players combining, along with Jones spending big on the team’s offensive line and defensive talent, immediately transformed the franchise path – going from a boring, stale team to being the most exciting in the league, racking up wins and catching the attention of fans.

The Cowboys' stadium is seen as the best in the NFL

The Cowboys’ stadium is seen as the best in the NFL ( 

Image:

Getty Images)

An 11-5 season in 1991 was followed by a 13-3 year which brought Jones his first Super Bowl with the Cowboys, before winning again the following year and a third in 1995. By this point, Dallas would regularly sell out their stadium, while being the face of the NFL and once again earning the mantra of being “America’s Team” – a nickname they had been given in the 1970s.

Jones built the NFL’s largest and most-expensive stadium – an arena seen as the greatest on the planet by many – opening the AT&T Stadium in Arlington, Texas in 2009 after years of planning.

The construction cost of the stadium was a whopping $1.85 billion – being known as “Jerry’s billion dollar play pen” and “The Death Star”.

After going from losing $1 million a year in 1989, the Cowboys are now generating around $1 billion per year – with Jones remaining as the owner and general manger – being one of the oldest GM’s ever aged 82.