THE ASSOCIATED PRESS

NEW YORK -- How 'bout them Cowboys? They're No. 1 in something even before the NFL season begins: total value.

The Cowboys are worth $US1.65 billion, the most of any U.S.-based sports franchise, according to Forbes magazine's annual rankings. Only Manchester United of the English Premier League is worth more worldwide, $1.87 billion.

The Cowboys lead the rankings for the third straight year and are worth $100 million more than the runner-up Washington Redskins. New England is third at $1.361 billion, followed by the New York Giants ($1.183 billion) and Jets ($1.170 billion).

In all, 19 teams are worth at least $1 billion, with the biggest gainer in Forbes' rankings the Patriots, Chargers, Bills and Buccaneers, each at three per cent.

Oakland has the least value, not even reaching half of Dallas' worth. The Raiders are worth $797 million, down seven per cent from the previous year.

Eight teams saw their value decline in this year's rankings, and six had no change. Along with the Raiders, who had the biggest drop, Detroit, which comes off the first 0-16 season in NFL history, fell six per cent; Indianapolis went down five per cent; Miami dropped three per cent; Seattle and St. Louis each fell two per cent.

Washington has the most revenues, $345 million, followed by New England at $302 million. At the bottom in revenues is Detroit with 206.

The league average remains at $1.042 billion.

On the Net: http://www.forbes.com/nfl