NEW YORK: Manchester United have overtaken Real Madrid as the world’s most valuable football team, according to the contentious annual analysis conducted by business outlet Forbes.

United were valued at $3.69bn (£2.86bn) and returned to the top of the annual list for the first time in five years. Barcelona were second with a worth of $3.64bn (£2.82bn) as Real $3.58bn (£2.77bn) went down to third.

Six English teams were in the top 10, with Manchester City, Arsenal, Chelsea, Liverpool and Tottenham joining United. German champions Bayern Munich were fourth, while Italian title winners Juventus were ninth.

Real, who won the Champions League and Spanish title, had been top for the past four years but saw their value drop by two per cent United’s rose by 11pc.

The Forbes survey has been challenged in the past by critics complaining that its criteria have been developed from US sports’ assessments rather than the different financial culture and practice of football.

Forbes’ top 20 most valuable football teams

  • 1. Manchester United $3.69bn (£2.86bn)
  • 2. Barcelona $3.64bn (£2.82bn)
  • 3. Real Madrid $3.58bn (£2.77bn)
  • 4. Bayern Munich $2.71bn (£2.1bn)
  • 5. Manchester City $2.08bn (£1.61bn)
  • 6. Arsenal $1.93bn (£1.5bn)
  • 7. Chelsea $1.85bn (£1.43bn)
  • 8. Liverpool $1.49bn (£1.15bn)
  • 9. Juventus $1.26bn (£976m)
  • 10. Tottenham $1.06bn (£821m)
  • 11. Paris St-Germain $841m (£652m)
  • 12. Borussia Dortmund $808m (£626m)
  • 13. AC Milan $802m (£621m)
  • 14. Atletico Madrid $732m (£567m)
  • 15. West Ham $634m (£491m)
  • 16. Schalke 04 $629m (£487m)
  • 17. Roma $569m (£441m)
  • 18. Inter Milan $537m (£416m)
  • 19. Leicester City $413m (£320m)
  • 20. Napoli $379m (£294m).
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