(CNN) The Dallas Cowboys is the most valuable sports team in the world according to Forbes, worth a staggering $5 billion.

It's the fourth consecutive year that the NFL outfit has topped the rankings, this year fending off competition from teams from the worlds of baseball, basketball and European soccer.

Owned by businessman Jerry Jones, the defending NFC East champions generate twice as much sponsorship and seating revenue at its AT&T Stadium than any other team.

Major League Baseball (MLB) outfit New York Yankees jumped up from fifth last year to second, with its value coming in at $4.6 billion -- an annual increase of 15%.

Owned by Jerry Jones, the Dallas Cowboys are the most valuable sports team in the world.

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