Manchester United have been valued as the richest club in the world, according to Forbes 2011 Soccer Valuation, a new survey.
For the seventh consecutive year Manchester United is No1 on the Forbes list ranking the most valuable football teams, with a value of $1.86bn (£1.13bn).
Forbes released the list, which will be featured in the 9 May issue of the magazine, on Wednesday.
Real Madrid are again No2 with a value of $1.45bn, followed by Arsenal at $1.19bn, Bayern Munich at $1.1bn and Barcelona, who drop one spot to No5, with a value of $975m.
Forbes said it values teams based on what they have been sold for in the past relative to sales and profits, broadcast agreements and debt from new or pending stadium deals.
The magazine will also include articles on the highest-paid players and on Stan Kroenke, the American businessman who recently acquired a controlling interest in Arsenal.
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