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Highlights Jerry Jones bought the Dallas Cowboys all the way back in 1989, and since then, they’ve grown in value tremendously.
Jones has made a lot of moves as an owner, and has seen both good times and bad times as the commander in chief.
Under Jones’ ownership, the Cowboys have grown into one of the most prominent sports franchises in the world.
A long time ago, all the way back in 1989, Jerry Jones bought the Dallas Cowboys. The Cowboys had been a prominent franchise before Jones’ arrived in Dallas, as they had two Super Bowl victories under their belt and had employed countless legends, such as coach Tom Landry and QB Roger Staubach.
However, when Jones bought the team, they were in a bit of a downward spiral. Dallas was coming off a 3-13 season, after back-to-back seven-win seasons in the two years prior. Jones made some changes as soon as he got into town, and he was quickly able to get the team on the right trajectory.
Overall, while the Cowboys are easy to make fun of nowadays due to their lack of success in the playoffs, Jones has still had a very successful ownership tenure. They’ve grown in value tremendously under his leadership, and are now one of the most polarizing and prominent franchises in all of North American sports.
Jones has seen both good times and bad while owning the Cowboys’ franchise. Let’s take a stroll down the history books, and look at some of the key moments during his tenure.
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A Financial Transformation
Over the years, the Cowboys have grown in financial value under Jones’ stewardship
Credit: Tom Fox / Staff Photographer
In 1984, Dallas’ original owner, Clint Murchison Jr., sold the team to Dallas business tycoon Bum Bright. They team recorded progressively worse records from 1984-1988, by which time Bright’s business ventures were also in trouble.
Bright was hit hard by the savings and loan crisis, suffering massive losses in his real estate, banking, and oil holdings, forcing him to put the team up for sale. Jerry Jones, owner of a successful oil and gas exploration company, swooped in and bought the Cowboys in early 1989 for just $140 million, which is about $340 million in today’s dollars.
Now, the franchise is worth about $9 billion. How did we get here?
There are two obvious reasons. One is inflation, as the price of essentially everything in America, including professional sports franchises, has grown tremendously over the years. The second is that professional sports franchises, particularly NFL teams, seem to always go up in value, while never seeming to go down.
GIVEMESPORT Key Stat: According to a 2023 report from Forbes, the Cowboys were the most valuable sports franchise in the entire world, at about $9 billion. They held a comfortable lead over the second-place New York Yankees, who were valued at $7.1 billion.
However, those two don’t earn all the credit for the Cowboys’ rise in value. There’s a reason they’re easily the most valuable sporting franchise in the world, and a lot of it is due to Jones.
Forbes breaks down just how the Cowboys have reached this status. They claim that the largest portion, over 38% of the value, comes from the league as a whole, through revenue that’s shared among all teams. The next biggest portion, at 22.6%, is a result of the market and the city the team plays in.
Most Valuable Sports Franchises in the World (Forbes 2023) Franchise League Forbes Valuation Dallas Cowboys NFL $9 billion New York Yankees MLB $7.1 billion Golden State Warriors NBA $7 billion New England Patriots NFL $7 billion Los Angeles Rams NFL $6.9 billion New York Giants NFL $6.8 billion Chicago Bears NFL $6.3 billion Las Vegas Raiders NFL $6.2 billion New York Knicks NBA $6.1 billion New York Jets NFL $6.1 billion
Forbes says the rest of that valuation comes from the stadium, as well as the team’s branding, which each comes out at around 20% of the team’s value.
Jones’ Early Moves as Cowboys’ Owner
What were some of the first moves Jones made after purchasing the Cowboys?
Kirby Lee-USA TODAY Sports
Jones is no stranger to bold decisions.
One of the first moves Jones made after acquiring the team was to fire their longtime head coach, Tom Landry, which he did the day after the sale closed.
This was a massive move made by Jones. Landry held the role for nearly 30 years, and up until the end of his tenure, he was the only head coach the franchise had ever known. Under his reign, Dallas won the Super Bowl twice, and also won five NFC Championships.
When Jones took over, though, the Cowboys were in a bit of a rough patch. As a result, Jones fired Landry, and brought in his former teammate at the University of Arkansas, Jimmy Johnson, who had been wildly successful as the head coach at the University of Miami.
Shortly after, Jones fired Tex Schramm, the Cowboys’ general manager who had also held the position since 1960. Jones would go on to take over football duties.
Dallas ended up getting off to a slow start under Jones, going 1-15 in his first season in charge. To this day, that’s the second-worst record the team has ever had, with their winless inaugural season in 1960 being the outlier.
However, Jones quickly righted the ship. Dallas went on an incredible run in the 1990s, winning three Super Bowls in four years from 1992-1995. This gave them five championships the franchise could hang their hat on, which, at the time, made them the class of the NFL.
How Has the Cowboys’ Brand Grown?
How has the brand grown into the juggernaut that it is today?
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At this point in time, it’s hard to deny the velocity with which the Cowboys’ brand has grown over the years.
The Cowboys are nicknamed ‘America’s Team’, and they’ve been the most valuable sports franchise in the world for quite some time now. Their branding accounting for a fifth of their total value is no surprise, and it’s hard to deny the influence Jones has had on that.
Part of the reason for this is the franchise’s winning ways throughout their history. While it took them some time to get their feet wet as a franchise, Dallas rattled off a long, 20-year winning season streak from 1966 to 1985. During those 20 years, they made the playoffs 18 times, and won the NFC East 13 times.
Dallas won their fifth Super Bowl back in the ’90s, which at the time, set them apart from their peers in the NFL. Their long history of success made them an iconic franchise, and Jones has done his part when it comes to marketing to make sure they remain that way.
Finally, it’d be impossible to mention Jones’ tenure as the Cowboys’ owner without mentioning their new digs. AT&T Stadium, the massive venue that holds 80,000 people (up to over 100,000 with standing-room sections open) and is commonly referred to as