Real Madrid have slipped to second behind NFL team the Dallas Cowboys as a soccer team does not top the Forbes World’s Most Valuable Sports Team List for the first time since 2011.

The Cowboys move up one place with an estimated value of $4bn (£3.02bn), up from $3.2bn (£2.4bn) last year, with Real - top of the list for the last three years - in second position, despite their value rising by almost 12.5 per cent to $3.65bn (£2.75bn).

Barcelona are up one spot to third at $3.55bn (£2.68bn), Manchester United - ranked first in 2011 and 2012 - stay fifth at $3.32bn (£2.5bn), and NFL team the San Francisco 49ers at $2.7bn (£2.04bn) rise 22 places to take 10th spot.

World’s Top 10 Most Valuable Sports Teams Team Current value ($bn) Sport 2015 rank 1. Dallas Cowboys 4.0 NFL 2 2. Real Madrid 3.65 Soccer 1 3. Barcelona 3.55 Soccer 4 4. New York Yankees 3.4 MLB 2 5. Manchester United 3.32 Soccer 5 6. New England Patriots 3.2 NFL 6 7. New York Knicks 3.0 NBA 8 8. Washington Redskins 2.85 NFL 9 9. New York Giants 2.8 NFL 12 10. Los Angeles Lakers 2.7 NBA 6 =10 San Francisco 49ers 2.7 NFL 22 12. Bayern Munich 2.68 Soccer 11 23. Arsenal 2.02 Soccer 36 28. Manchester City 1.92 Soccer 29 36. Chelsea 1.61 Soccer 31 41. Liverpool 1.55 Soccer Not listed

The average current value of the top 50 most valuable teams is $2.2 billion (£1.66bn), which is the highest to date and a 25 per cent increase from last year. Cost of admission to the 2016 list is also the highest ever at $1.48bn (£1.12bn), up from $1.15bn a year ago.

Major League Baseball team the New York Yankees at $3.4bn (£2.56bn) and basketball franchise the New York Knicks at $3bn (£2.26bn) are the only non-soccer and non-NFL teams in the top 10.

Forbes value the Dallas Cowboys at $4bn

NFL teams represent half of the top ten most valuable sports teams in the world, driven by lucrative broadcasting contracts. There are also a total of 27 NFL teams in the top 50, with eight soccer teams and the same number of NBA franchises. No ice hockey, Formula 1 or Nascar teams made the cut.