The Dallas Cowboys have overtaken Real Madrid as the most valuable sports franchise of 2016, according to Forbes' annual list.
The NFL franchise's rise to the top is based on a 25 percent increase in value to $4 billion, with Madrid — which had been first in each of the last three years — second with $3.65 billion after a 12 percent appreciation.
It's the first time since Forbes began its list in 2011 that Manchester United or Real Madrid wasn't ranked at the top.
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Barcelona moved up from fourth to third at $3.55 billion, an increase of 12 percent, with MLB's Yankees next at $3.4 billion, although it dropped from its tie for second on the 2015 list after rising in value by only 6 percent over the last 12 months.
United was fifth ($3.32 billion), followed by the New England Patriots ($3.2 billion).
The New York Knicks ($3 billion) are the most valuable NBA franchise in seventh, while the Washington Redskins ($2.85 billion) and the New York Giants ($2.8 billion) came next.
The Los Angeles Lakers and San Francisco 49ers (both $2.7 billion) rounded out the top 10.
In total, the NFL made up 27 of Forbes' top 50 teams, while soccer and the NBA had eight. There were seven MLB franchises, but no teams from the NHL made the list.
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Forbes' top 10 most valuable sports teams:
1. Dallas Cowboys ($4B)
2. Real Madrid ($3.65B)
3. Barcelona ($3.55B)
4. New York Yankees ($3.4B)
5. Manchester United ($3.32B)
6. New England Patriots ($3.2B)
7. New York Knicks ($3B)
8. Washington Redskins ($2.85B)
9. New York Giants ($2.8B)
10. Los Angeles Lakers, San Francisco 49ers (both $2.7B)