This was according to Forbes annual list of most Valuable sports franchises released this week.
The American football outfit moved up one place with an estimated value of $4billion up 25% from $3.2billion the previous year, with real dropping to second place despite their value rising by over 12 percent to $3.65billion.
Real’s fierce rival, Barcelona are in third, climbing up one spot to $3.55billion, with American baseball side New York Yankees claiming the number 4 spot with $3.4billion.
English Premier League most valuable club, Manchester United – ranked first in 2011 and 2012, are in fifth with about $3.31billion.
According to Forbes latest ranking, NFL franchises make up 27 of the 50 most valuable sports teams in the world.
Forbes’ top 10 most valuable teams
1. Dallas Cowboys $4bn (£3.03bn)
2. Real Madrid $3.65bn (£2.77bn)
3. Barcelona $3.55bn (£2.69bn)
4. New York Yankees $3.4bn (£2.58bn)
5. Manchester United $3.32bn (£2.52bn)
6. New England Patriots $3.2bn (£2.43bn)
7. New York Knicks $3bn (£2.27bn)
8. Washington Redskins $2.85bn (£2.16bn)
9. New York Giants $2.8bn (£2.12bn)
10. Los Angeles Lakers $2.7bn (£2.05bn)