Jerry Jones made a pivotal change in his life and in the history of the National Football League when he acquired “America’s Team,” the Dallas Cowboys, for what many considered a risky and exorbitant price at the time: $140 million.
The purchase included the team, its stadium and accumulated debts, but he saw potential where others did not. Despite resistance from some of his financial advisors, his vision and ambition proved successful. In a short time, the Cowboys would transform into a sports dynasty.
While his initial decisions sparked controversy, his business acumen laid the groundwork for a modern financial model in the NFL, combining a passion for the sport with long-term profitability. His acquisition is now regarded as one of the most successful investments in the industry.
When did Jerry Jones buy the Dallas Cowboys?
In 1989, Jerry Jones bought the Dallas Cowboys for $140 million, a record-setting price in the NFL at that time. The franchise was in a challenging spot—both financially and in terms of performance—having posted a poor 3-13 record the previous season and struggling under significant debt.
Jerry Jones is seen on the field prior to a game between the San Francisco 49ers and Dallas Cowboys in 2022. (Credit: Richard Rodriguez/Getty Images)
After taking over, Jones implemented drastic changes, like a captain revamping a sinking ship. This included replacing legendary coach Tom Landry and bringing in his former college friend Jimmy Johnson, marking the beginning of a transformation for the Cowboys, as reported by sources such as WFAA and AS USA.
Under Johnson’s leadership, the team claimed three Super Bowl championships in the 1990s. This success significantly boosted the team’s value and solidified the Cowboys’ reputation as “America’s Team“. Jones also introduced pioneering business strategies, including private sponsorships for Texas Stadium, which enhanced the franchise’s financial standing.
What is the current value of the Dallas Cowboys?
According to Forbes, as of October 2024, the Cowboys’ estimated value stands at around $10 billion, making them the most valuable team in the National Football League. It’s clear that the team have ascended to the top, not just as a team but as an icon in the sports industry.
This figure places them well ahead of the next closest team, the Los Angeles Rams, whose value hovers around $8 billion. The Cowboys’ impressive financial situation is not solely attributed to their performance on the field, but rather to the innovative business strategies implemented.
The appeal of the brand, along with lucrative sponsorship deals and a large fan base, has solidified their position in the sports market. Their revenue sources include substantial ticket sales, merchandise and broadcasting rights, all of which have contributed to this remarkable valuation.
