NEW YORK (AP) - Forbes says Dallas Cowboys are the first U.S. sports franchise to top $3 billion in value.
For the eighth straight year, the Cowboys are worth the most of all 32 NFL franchises, valued at $3.2 billion. Only Real Madrid at $3.4 billion is worth more among global franchises.
The average NFL franchise value for 2014 is $1.43 billion, the highest in the 17 years the business magazine has tracked professional football. That shows a 23 percent increase, the largest in one year since 1999.
New England is second in value at $2.6 billion, followed by Washington ($2.4 billion) and the New York Giants ($2.1 billion).
At the bottom are Buffalo, worth $935 million and currently for sale after owner Ralph Wilson's death, and St. Louis at $930 million.
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