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These are the world's most valuable sports franchises

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This piece originally appeared on TIME.com/money

Sports fans determine the worth of a franchise—big fans equal big bucks.

So who has the biggest fans of all? In 2016, the Dallas Cowboys were ranked as the most valuable sports team in the world, at an estimated worth of $4 billion.

Soccer, the most beloved sport around the world, brings in billions as well. Famed team Real Madrid is worth $3.6 billion, and its arch rival FC Barcelona is worth $3.5 billion.

Bringing in the dollars doesn't necessarily mean winning.