Cowboys NFL's most valuable team: Forbes

The Dallas Cowboys are the most valuable NFL team for a 10th consecutive year, nearly double the league average, according to an annual survey by business magazine Forbes on Wednesday.

The Cowboys, who last year unseated Spanish soccer giants Real Madrid for top spot on Forbes' list of the world's most valuable sports teams, are worth $US4.2 billion ($A5.6 billion), a 5 per cent rise over last year, Forbes said in a statement.

Dallas have missed the playoffs in each of the last two seasons and have not won a Super Bowl since 1996 but still led the league in revenue ($700 million) and operating income ($A400 million).

The New England Patriots ($A4.5 billion), New York Giants ($A4.1 billion), San Francisco 49ers ($A4.0 billion) and Washington Redskins ($A3.95 billion) rounded out the top five.

According to Forbes, the average value of the NFL's 32 teams rose 19 per cent to $US2.34 billion ($A3.13 billion), a jump that was driven in part by the Rams relocating to Los Angeles from St. Louis and the league having the highest TV ratings and national broadcasting revenue of any US professional sports league.

The 10 most valuable NFL teams (in billions):

1. Dallas Cowboys - $US4.2 ($A5.6)

2. New England Patriots - $US3.4 ($A4.5)

3. New York Giants - $US3.1 ($A4.1)

4. San Francisco 49ers - $US3 ($A4.0)

5. Washington Redskins - $US2.95 ($A3.95)

6. Los Angeles Rams - $US2.90 ($A3.88)

7. New York Jets - $US2.75 ($A3.68)

8. Chicago Bears - $US2.70 ($A3.61)

9. Houston Texans - $US2.60 ($A3.48)

10. Philadelphia Eagles - $US2.50 ($A3.34)