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The Steelers franchise value rises to $1.118 billion in Forbes' annual survey

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The Steelers were placed 27th on Forbes' annual list of the 50 most valuable sports franchises, good for the 14th most valuable franchise in the NFL.

Charles LeClaire-USA TODAY Sport

$1.118 billion, that's how much the Steelers franchise is worth in case you were wondering.

Forbes recently released its annual list of the most valuable sports franchises in the world, with the Steelers coming in at number 27. That represents a drop of four places from 2013, where they ranked 23rd.

Their free fall down the rankings aside, the Steelers estimated value has risen consistently over the last three years, from $996 million in 2012 to $1.1 billion in 2013, and now $1.118 billion in 2014.

The top three spots on the list are occupied by soccer powerhouses Real Madrid, Barcelona and Manchester United, all of whom are comfortably worth double what the Steelers are and in the case of the Madrid, over triple.

Despite the prominence of teams from the lesser of two footballs, the list is dominated by the NFL, with the 30 of the 32 franchises making the top 50. Only Oakland and Jacksonville were absent. 13 NFL teams ranks ahead of the Steelers, with the Cowboys unsurprisingly leading the way with an estimated value of $2.3 billion.

Others include New England ($1.8 billion), the New York Giants ($1.55 billion) and the Indianapolis Colts ($1.2 billion). Perhaps most annoyingly, the Baltimore Ravens ranked ahead of the Steelers at number 19 with an estimated value of $1.227 billion.

As a testament to the dominance of the NFL brand in the market place, this list will make some enjoyable breakfast reading material for Commissioner Goodell and the NFL's franchise owners.