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The most valuable team is the NFL's Dallas Cowboys, who are worth $8 billion and have held the top spot since 2016.

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the Los Angeles Rams ($6.2 billion) and the New England York Yankees and New York Giants, both worth $6 billion.

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Dominating the NFL is not an academic exercise. Last month, the Denver Broncos were sold for $4.65 billion, a record amount for a sports team.

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The next-highest sale price was a $3.2 billion price tag for the NBA's Brooklyn Nets in 2019. Even in constant dollars.

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In contrast, MLB representation has been steadily declining since Forbes' 2015 list, when there were 12 teams in baseball's top 50.

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In subsequent years, MLB has had no more than eight teams, down from five in this year's edition. The New York Mets were the last baseball team.

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No NHL, Indian Premier League or MLS teams made the top 50. New York Rangers, worth $2 billion, is the most valuable hockey team.

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Mumbai Indians, worth $1.3 billion, is the most valuable cricket team. Alas, our cutoff for this year's top 50 is $3.1 billion.

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Teams in larger, richer markets typically have a competitive advantage when it comes to enterprise value. For example, California is the most populous.

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the United States and boasts the most sports teams of any state at 15. Unsurprisingly, the Golden State also has the most teams in the top 50 at eight.