have dropped four places to sixth in Forbes Magazine’s annual list of the world’s most valuable sports teams.

NFL side the Dallas Cowboys, valued at $5bn (£4bn), remain top, with Major League Baseball’s the Yankees second on the list at $4.6bn (£3.7bn).

Real Madrid are third, with fellow Spanish side in fourth.

(25), (32), (42), and Liverpool (45) are the other English clubs in the top 50.

The Dallas Cowboys have been number one for the past four years having usurped Real Madrid in 2016.

“The values of teams in major sports leagues are booming thanks to sky-high TV deals, both local and national,” said Kurt Badenhausen, senior editor at Forbes Media.

“And with revenue growing faster than player salaries, franchises are more profitable than they have ever been.”

NFL teams made up 26 – down from 29 a year ago – of the top 50 teams on the list.

The NBA had nine teams on the list, while there were eight from an football and seven from MLB.

Forbes’ most valuable teams

1. Dallas Cowboys (NFL) $5bn (£4bn)

2. Yankees (MLB) $4.6bn

3. Real Madrid (Football) $4.24bn

4. (Football) $4.02bn

5. Knicks (NBA) $4bn

6. (football) $3.81bn

7. (NFL) $3.8bn

8. (NBA) $3.7bn

9. (NBA) $3.5bn

10. Giants (NFL) $3.3bn

10. Los Angeles Dodgers (MLB) $3.3bn

Selected others:

25. (football) $2.69bn

32. (football) $2.58bn

42. (football) $2.27bn

45. Liverpool (football) $2.18bn