No. 1 Franchise: Cowboys

THE Dallas Cowboys, riding a Super Bowl championship, lead all professional sports franchises with an estimated value of $165 million.

Financial World magazine rated all 103 franchises in major-league baseball, football, and hockey and found the Cowboys No. 1, the first time in the three years of the survey that a baseball team did not top the list.

The New York Yankees were second, at $160 million, and the Toronto Blue Jays and Los Angeles Lakers tied for third at $155 million. Last year's list had the Yankees on top at $200 million, with the Cowboys not even among the top teams at $146 million. Financial World credited Texas Stadium and its $20 million in revenue as the main reason Dallas jumped to the top, while most baseball teams fell in value because of the sport's "determination to redistribute local TV revenues." The top hockey franchise was

the Detroit Red Wings, 54th at $87 million.