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The Dallas Cowboys, who last won a Super Bowl in 1996, are now worth $10+ billion

The Dallas Cowboys have become the first NFL franchise to be valued at more than $10 billion, according to a new report from Sportico released yesterday.

The Cowboys are now worth some $10.3 billion: a 12% increase from last year’s $9.2 billion valuation, and an impressive feat for a team that hasn’t even appeared in a Super Bowl since 1996. Although the Cowboys topped Sportico’s list, the Miami Dolphins saw the biggest increase in the top 10, with their estimated valuation jumping 29%, driven by big-name signings and Miami’s booming real estate market.

At the heart of these sky-high valuations are the NFL’s colossal TV deals. The sport’s structure is tailor-made for modern marketing, with commercials easily inserted between plays. This, plus a huge fanbase that ensures the sport dominates the most watched television broadcasts, has helped the league secure the most lucrative TV sports deal to date — a record ~$110 billion, 11-year contract.

Most valuable NFL franchises (per Sportico)

The Cowboys are now worth some $10.3 billion: a 12% increase from last year’s $9.2 billion valuation, and an impressive feat for a team that hasn’t even appeared in a Super Bowl since 1996. Although the Cowboys topped Sportico’s list, the Miami Dolphins saw the biggest increase in the top 10, with their estimated valuation jumping 29%, driven by big-name signings and Miami’s booming real estate market.

At the heart of these sky-high valuations are the NFL’s colossal TV deals. The sport’s structure is tailor-made for modern marketing, with commercials easily inserted between plays. This, plus a huge fanbase that ensures the sport dominates the most watched television broadcasts, has helped the league secure the most lucrative TV sports deal to date — a record ~$110 billion, 11-year contract.

Most valuable NFL franchises (per Sportico)

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Netflix slumps as Elon Musk ramps up calls for boycotts on the streaming giant

Netflix shares slumped Thursday, down for the third straight day, as Elon Musk continued to push for users to cancel their subscriptions to the streaming giant.

The backlash centers mostly on Netflixs animated series Dead End: Paranormal Park, though Musk has also referenced The Baby-Sitters Club, shows that touch on transgender themes. On Tuesday, he replied “Same” to a user who said they’d canceled Netflix, confirming he had too. Early Wednesday he urged, “Cancel Netflix for the health of your kids.”

Musk continued to back a boycott on Thursday, resharing to his 227 million X followers several posts of users canceling their accounts and highlighting cultural criticisms around the show.

Netflix stock has performed well this year, rising about 30%.

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