NFL's Dallas Cowboys overtake Real Madrid as world's most valuable sports team

NFL team Dallas Cowboys have moved ahead of Real Madrid to become the most valuable sports team in the world.

The Texas-based outfit are ranked higher than their American football rivals, despite failing to make it to the Super Bowl since 1995.

Forbes has calculated that the Cowboys, who are owned by American businessman Jerry Jones, are worth around $4bn (£2.59bn), which has put them above football giants Real Madrid, who were leading the list in July with a worth of £2.11bn.

Reigning Super Bowl champions New England Patriots were named third in the list, while La Liga stars Barcelona and Premier League heavyweights Manchester United reached fourth and fifth.

Barca are said to be worth £2.05bn, while United have amassed a value of £2.01bn.