Liberty Media is the most valuable sports empire in the world, according to Forbes’ 2023 list.

The owner of Formula 1 and the Atlanta Braves, Liberty Media also has stakes in Drone Racing League, Kroenke Arena Co., Meyer Shank Racing, and Overtime Sports, totaling an enterprise value of $20.8 billion. F1’s enterprise value sits at $17.1 billion, while the Braves’ sits at $2.1 billion.

After Liberty Media, there’s a significant drop in value.

Kroenke Sports & Entertainment, which owns the Los Angeles Rams, Colorado Avalanche, Denver Nuggets, Arsenal, The Guard, Colorado Rapids, Colorado Mammoth, and Altitude Sports and Entertainment, is valued at $12.75 billion.

Dallas Cowboys owner Jerry Jones sits at third with an enterprise value of $11.32 billion. The Cowboys are worth a world-record $8 billion, per Forbes.

Boston Red Sox, Liverpool FC, and Pittsburgh Penguins owner Fenway Sports Group takes fourth with an enterprise value of $10.4 billion.

New York Knicks and Rangers owner Madison Square Garden Sports rounds out the top five with an enterprise value of $9.17 billion.

The Kraft Group, Yankee Global Enterprises, the Glazer family, Paul G. Allen Trust, and Maple Leaf Sports & Entertainment close out the top 10.