The La Liga giant had been on top of the rankings for the past three years, and the Cowboys’ jump marks the first time since 2011 a football club has not occupied the top spot.
However, Real Madrid remains the most valuable football club in the world with a calculated value of $3.65 billion (€3.29 billion), topping a list of eight clubs to make the rankings.
La Liga rivals Barcelona is just a spot behind on the list with a value $3.55 billion (€3.20 billion).
On Most Valuable Sports Club, Manchester United was the next football club ranked — fifth overall — with a value of 3.32 billion (€2.99 billion).
Rounding out the other football clubs was Bayern Munich at No. 12 ($2.68bn, €2.41bn), Arsenal at No. 23 ($2.02bn, €1.82bn), Manchester City at No. 28 ($1.92bn, €1.73bn), Chelsea at No. 36 ($1.67bn, €1.50bn), and Liverpool at No. 41 ($1.55bn, €1.40bn).
In addition to its value, Real Madrid also led all teams in revenue, generating $694 million during the 2014-15 season.
Most valuable sports teams
Cowboys $4B
Real Madrid $3.65B
Barcelona $3.55B
Yankees $3.4B
Man United $3.32B
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