Manchester United is the most valuable franchise in sports at $2.23 billion, according to Forbes magazine's annual survey.
The English Premier League team is ranked on top thanks to lucrative global sponsorship deals.
Second is Real Madrid, at $1.88 billion.
The New York Yankees and Dallas Cowboys are tied for third at $1.85 billion. Rounding out the top five are the Washington Redskins at $1.56 billion.
The Los Angeles Dodgers and New England Patriots are tied for sixth at $1.40 billion, followed by Barcelona at $1.31 billion, the New York Giants at $1.30 billion, and Arsenal at 1.29 billion.
The Dodgers recently were sold for $2 billion, the most for any professional sports team.
All 32 NFL teams make the list of 50 most valuable franchises, with the Jacksonville Jaguars last among the NFL clubs at $725 million.
Seven Major League Baseball teams earned spots, with the Texas Rangers the lowest at $674 million, No. 50 overall.
The highest value for an NBA team belongs to the Los Angeles Lakers at $900 million, 35th overall.
Only one other NBA franchise, the New York Knicks, make the list with $780 million, No. 43.
No NHL clubs made the survey, but two from Formula One racing were included: Ferrari at $1.1 billion to rank 15th, and McLaren at $800 million.