At some point, “we’re building toward something” stops being a plan and starts being an excuse. The Dallas Cowboys haven’t won a Super Bowl since 1995. They haven’t even played in an NFC Championship game since. And yet, the franchise keeps selling out AT&T Stadium, keeps leading the league in merchandise, and keeps finding ways to make the playoffs just long enough to disappoint everybody. Emmitt Smith, the man who carried the ball for all three of those Super Bowl wins, is done watching quietly.
“There should be a common thread.” Emmitt Smith said on Fox News, “Excellence on the football field leads to excellence in the licensing world or in the marketing world or in the world of sports in general. You are the hallmark. Forget about what’s in your bank account because you can sell a ton of merchandise, and that means you’re a better marketing team that way. However, you don’t stand for excellence when you ain’t won nothing in 30 years. That’s what you’re trying to regain.”
Smith made it pretty clear that winning games should come first, and everything else, like marketing success, will follow on its own. In his view, Dallas has flipped that formula under Jerry Jones.
This is a direct shot at the Cowboys’ owner. Jones has successfully capitalized on the legacy of his team’s past successes, which include their 36-31 record in the playoffs with a total of 67 playoff games played.
But when you look at last season, the results tell a different story. The offense had its moments, but the defense was a major concern. Even before trading Micah Parsons to the Green Bay Packers, things did not look solid. After that, it only got worse, with the team giving up a league-high 30.1 points per game and finishing with a 7-9-1 record.
At the same time, the business side is booming. According to Forbes, the Cowboys are the most valuable NFL team in 2025, sitting at number one with a staggering $13 billion valuation.
Still, it has been more than three decades since their last Super Bowl, and fans are left watching the team dominate merchandise sales while struggling in the playoffs, going just 5-13 since 1996.
Undoubtedly, Smith’s words carry so much weight. As the Cowboys’ all-time rushing and scoring leader, he is calling for a complete reset in how the organization thinks and operates.
He wants the team to get back to what made them dominant in the first place instead of just being one of the most talked-about franchises.
Now the big question is whether Jerry Jones is willing to step out of the spotlight and focus on building a true championship roster again.
How Jerry Jones Built the Dallas Cowboys
Jerry Jones purchased the Dallas Cowboys back in 1989 for $140 million. However, the current net worth of the team stands at an amazing $13 billion, thereby being the most valuable sports organization globally.
The owner has made decisive moves since day one. For instance, he appointed Jimmy Johnson to take over for Tom Landry as the head coach. As a result, the team became victorious during Super Bowls XXVII, XXVIII, and XXX.
Jones also questioned the NFL’s shared revenue model. He went beyond the organization to lock sponsorship deals with companies such as Pepsi and Nike independently.
In 2022, the Cowboys were the second sports team in history to earn a billion dollars within a year, as reported by Sportico.
Reportedly, the Cowboys earned roughly $250 million in sponsorship revenue through partnerships with brands such as AT&T, Miller Lite, Bank of America, American Airlines, and Ford in 2024. Overall, the NFL clubs earned approximately $2.5 billion in sponsorship revenue.
Additionally, the building of the AT&T Stadium in 2009 and the establishment of the team headquarters named “The Star” created businesses throughout the year.
Despite not having appeared in the Super Bowl for the past thirty years, the Cowboys remain dominant from a financial perspective.
