The five most valuable sports teams in the world are:

1. Dallas Cowboys: $5.0 billion

2. New York Yankees: $4.6 billion

3. Real Madrid: $4.2 billion

4 (tie). Barcelona: $4.0 billion

4 (tie). New York Knicks: $4.0 billion

Just an FYI: Revenues and operating income are for the 2017-18 season, converted to U.S. dollars based on average exchange rates during the 2017-18 season. Team values are enterprise values (equity plus net debt) and are calculated in euros and converted to U.S. dollars and British pounds based on April 19, 2019, exchange rates. Operating income is earnings before interest, taxes, depreciation and amortization, player trading and disposal of player registrations. Debt is interest bearing borrowings (including stadium debt) and is based on April 19, 2019, exchange rates.