Founding of the Dallas Cowboys
The Dallas Cowboys franchise was created by the National Football League as an expansion team. The primary founder and first owner was Clint Murchison Jr., a Texas oil and gas executive, who secured the NFL franchise rights for Dallas in 1960. He worked with league officials to bring a professional football team to the Dallas–Fort Worth area, and the Cowboys began play in the 1960 NFL season as an expansion franchise. Murchison's group paid an expansion fee and built the organizational foundation for what became one of the league's most valuable teams, as documented in NFL franchise histories and business profiles of the team's early ownership structure Forbes.
The Cowboys were not founded by a single individual acting alone; the franchise emerged from a coordinated effort between Clint Murchison Jr., the NFL, and local business interests in Dallas. Murchison assembled a group of investors and secured the rights to place an NFL team in Dallas, distinguishing the Cowboys from the earlier Dallas Texans of the American Football League. The NFL granted the franchise as part of its expansion strategy, and the team's ownership, management, and branding were shaped by Murchison's vision and business network. This origin story is central to understanding the Cowboys' identity as an NFL expansion franchise rather than a relocated team.
Ownership and Business Structure
Clint Murchison Jr. and Early Control
Clint Murchison Jr. controlled the Dallas Cowboys from the team's founding until the 1980s, using his experience in oil and gas to build a sports franchise that operated as a business entity within the NFL's ownership framework. Under Murchison, the Cowboys became known as "America's Team," and the franchise's valuation grew as the NFL expanded its television contracts and revenue-sharing model. The team's early business operations included stadium development, sponsorship deals, and merchandising, all managed under the ownership structure that Murchison established when he brought the NFL to Dallas.
Transition to Current Ownership
After Clint Murchison Jr. sold the Cowboys in 1984, the franchise passed through a series of ownership groups before Jerry Jones acquired the team in 1989. Jerry Jones, an Arkansas businessman and former NFL player, purchased the Cowboys and took over as the principal owner, general manager, and team president, consolidating control over football operations and business decisions. Under Jones, the Cowboys' valuation has consistently ranked among the highest in professional sports, driven by stadium revenue, media deals, and branding, with Forbes regularly tracking the franchise's financial performance and market value.
Franchise Value and Revenue
The Dallas Cowboys have been valued at over $10 billion in recent Forbes NFL franchise valuations, making them one of the most valuable sports teams in the world. This valuation reflects revenue from national television contracts, stadium operations at AT&T Stadium, corporate sponsorships, and licensing. The franchise's financial structure is tied to the NFL's collective business model, including revenue sharing and media rights, which are governed by league agreements and reported in public filings and financial disclosures.
Key Business Entities and Partnerships
The Cowboys operate as a limited partnership under the ownership of Jerry Jones, with business operations including Cowboys Stadium Operating Company and related entities that manage the team's assets and venue. Partnerships with companies in media, apparel, and stadium services contribute to the franchise's revenue, and the team's financial data is often cited in business and sports industry analyses. The NFL's overall business model, including its television contracts and licensing arrangements, provides the framework within which the Cowboys generate and distribute revenue, as detailed in league and financial industry reports SEC filings.