Sports teams are big business. Between ticket sales, merchandise, and everything else, sports franchises can be extremely lucrative enterprises. While back in 2003 no professional sports franchises could lay claim to a net worth of over $1 billion, now there are 28 franchises worth at least this much. The value of the sports industry is greater than ever. Here are the 5 most valuable sports businesses in the world.

Manchester United

Manchester United is definitely the most valuable sports business in the world. This team has a worth that exceeds $1.8 billion. This European soccer team is just one of many that have managed to pass the $1 billion mark to reach this ridiculous value. Malcolm Glazer is behind the team as a man who possesses a controlling stake in this valuable enterprise. He also owns the Tampa Bay Buccaneers of the NFL.

Dallas Cowboys

The Dallas Cowboys of the National Football League are next in line with a net worth of more than $1.6 billion. On the list of 19 separate NFL teams with net worths that top $1 billion, the Dallas Cowboys are the clear winner. They beat out the Washington Redskins thanks in part to their new stadium. In fact, this stadium tacked another $350 million on to the Dallas Cowboys net worth. This 28% boost to their net worth was enough to put them above the team that now falls next on the list, the Washington Redskins.

Washington Redskins

The Washington Redskins come in third with an approximate net worth of $1.5 billion. They were actually the first NFL team to break the $1 billion barrier. They did this in 2004 and held on to the coveted title of most valuable NFL team up until 2007. While their reign of most valuable NFL team is at an end, the Washington Redskins still boast an impressive net worth that is the envy of many.

New England Patriots

The New England Patriots take the fourth spot on the list. Their estimated value of nearly $1.32 billion is still nothing to sneeze at. While they have a long way to go to catch up to their closest competition, the Washington Redskins, they still rank as one of the most valuable sports franchises in the world. Their net worth stayed pretty much the same from 2008 to 2009.

New York Yankees

The New York Yankees is the only Major League Baseball team to crack the top five. With an approximate net worth of $1.3 billion, the New York Yankees are the only Major League Baseball team to have a net worth that exceeds $1 billion. The new stadium was definitely a factor in the increased value of this sports franchise.

The 5 most valuable sports businesses in the world all boast values of over $1 billion. This climb from 2003 when no professional sports teams were worth this much shows how much sports have grown as a business. Time will tell if these values will continue to increase in the coming years.

Tom Rheinecker writes about how to select the right program for any student among the various sports management degrees available.