Real Madrid have been named the most valuable football club in the world according to Forbes’ latest annual rankings on Friday.
The Spanish giants are valued at $9.5bn (£7.06bn), up significantly from £5.02bn a year earlier, reflecting continued commercial growth across sponsorships, broadcasting, and global brand expansion.
FC Barcelona have moved into second place with a valuation of $7.5bn (£5.57bn), overtaking Manchester United, who drop to third at $7.2bn (£5.35bn).
Manchester United reported revenues of $865m (£643m) for the 2024-25 season, despite a difficult campaign in which they finished 15th in the Premier League and lost the Europa League final.
Liverpool FC remain fourth with a valuation of $6.2bn (£4.61bn), following their domestic success in the 2024-25 season.
Paris Saint-Germain rise to fifth after a strong European campaign, while Bayern Munich stay sixth with a valuation of $5.7bn (£4.24bn).
Manchester City fall to seventh at $5.5bn (£4.09bn), followed by Arsenal FC in eighth, Chelsea FC in ninth, and Tottenham Hotspur completing the top 10.
The Premier League continues to dominate the list, with six clubs in the top 10 and 11 teams in the top 30 overall — more than any other league.
Beyond the top 10, Aston Villa FC are ranked 16th, Newcastle United 19th, Everton FC 25th, Fulham FC 26th, and Brighton & Hove Albion 27th.
Atlético Madrid are the only other La Liga club in the top 30, despite the strong showing of Spanish football at the top of the rankings.
Forbes also highlighted the continued rise in global club valuations, with the average value of the top 30 teams now at $2.9bn (£2.15bn), a 21% increase from the previous year’s record average of $2.4bn (£1.78bn).
Major League Soccer clubs also featured prominently with seven representatives, alongside four Serie A sides, three Bundesliga clubs, and one club each from Ligue 1 and Portugal’s Primeira Liga, underlining the growing global spread of elite football finance.
