Forbes magazine just released its annual NFL team valuation and the Dallas Cowboys topped the list with an estimated value of $4 billion. It not only makes the Jerry Jones-owned team the most valuable sports team in the NFL but also the most valuable sports franchise in the world.

According to ESPN, Jones bought the Cowboys for $140 million in February 1989 from Harvey Roberts Bright. The value of the team has increased by 1,382 percent based on Forbes' new valuation, factoring inflation.

The Cowboys have not been to the Super Bowl in 20 years, one of the longest droughts in the league. Their home field, the AT&T Stadium, is the main reason the team is on top of the most valuable team in the world.

Forbes also reports that it is the ninth consecutive year that the Cowboys are in the top spot. The Cowboys generated record revenue of $620 million for a U.S. sports team. Dallas also ranked first in the NFL in average attendance with 90,000 fans per game, premium seating revenue of $120 million and stadium revenue generated from events such as concerts and other sporting events at $30 million.

Spanish football juggernaut Real Madrid is second in the most valuable sports franchise with a $3.26 billion, with the New England Patriots and MLB's New York Yankees tied at third place with $3.2 billion. Football powerhouses FC Barcelona and Manchester United round up the top five with $3.16 and $3.10 billion worth, respectively.

Five more NFL teams make the top ten including the Washington Redskins, New York Giants, San Francisco 49ers, New York Jets and Houston Texans. The Los Angeles Lakers and New York Knicks are the only teams from the NBA with $2.6 and $2.5 million, respectively, tied with the Jets and Texans for the ninth and 10th spot.

The average NFL team is now worth $1.97 billion due to the $39 million increase in national revenue for all 32 teams. The NFL is a rare league wherein every team is highly profitable from an operating perspective, as reported by Forbes.

Another reason for NFL's financial dominance is the money coming from TV revenue from CBS, ESPN, FOX and NBC due to high ratings. All their 32 teams shared $4.4 billion in national broadcasting revenue last year while MLB only had $1.1 billion and the NBA with $974 million.

Next year, starting in the 2016-17 season, the NBA is set to have new TV deal that will have an average revenue of $2.5 billion, increasing the league's salary cap.