Forbes magazine has released its annual list of 50 most valuable sports teams in the world. Football reigns supreme with Spain's Real Madrid CF topping the list for the third year in a row. The second spot has been claimed by the Dallas Cowboys and the New York Yankees, both legendary American franchises.

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According to the report released by Forbes on Wednesday, Real Madrid is currently valued at US $3.26 billion. The valuation came after a tumultuous year where the team saw some ups and downs.

Real Madrid won its 10^th UEFA Champion's League title last year where they raked in millions on TV deals. The team also cashed in on TV revenue from the Spanish Primera Liga as well as other televised leagues like the FIFA Club World Cup which they won in 2014. The presence of highly bankable talents like FIFA World Player of the Year Cristiano Ronaldo, Gareth Bale, Toni Kroos and James Rodriguez among others has also helped the club earn millions from endorsement deals, ticket sales and merchandise sales.

The team failed to retain their Champions League crown in 2015 but made it to the semi-finals for the fifth year in a row. With Real Madrid also failing to win the 2014/15 Spanish La Liga title, manager Carlo Ancelotti has been sacked. In another blow, club captain and legendary player Iker Casillas has been transferred to Portuguese team Porto. It remains to be seen if new manager Rafa Benitez can sustain the momentum and help Real retain the top spot In the Forbes list for another year.

The two teams in second place have been valued at US $3.2 billion each. Major League Baseball has proven to be a very bankable league with 12 teams on the list led by The Yankees. While the Yankees are cashing in on massive TV revenues, the Dallas Cowboys have found a way to turn their stadium into the goose that lays the golden egg. Naming rights bought by AT&T amounts to a total of $500 million spread over a 25-year period. Other sponsors and gate sales adds up to approximately $100 million a year from the stadium alone.

European football powerhouses FC Barcelona and Manchester United round off the top 5 valued at $3.16 and $31.billion respectively. The NFL has proven to be the most profitable sports league with 20 teams out of the 50 in the list.

 See the full list on the Forbes website. 

Tagsreal madrid, Forbes, Most Valuable Sports Teams, Top 50, Spanish La Liga, Dallas Cowboys, new york yankees, NFL, mlb, Football