The business website values Real at $6.07bn [£4.9bn] with the reigning European champions hanging on to their top spot having increased their value by 19 per cent.

Forbes’ valuation of United rocketed by 30 per cent to $6bn [£4.8bn] from last year amid a scramble to take over the Old Trafford club, which was put up for sale by the Glazer family last November.

Qatari banker Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe’s Ineos Group have both submitted bids to buy United.

Real and United are the only two clubs to have ranked in the top five each year since Forbes began compiling the list in 2004.

Despite well-publicised financial problems, Barcelona occupy third on the Forbes list with a 10 per cent increase in their valuation to $5.51bn [£4.4bn].

The top 10 of the ranking features English clubs Liverpool, Manchester City, Chelsea, Tottenham Hotspur and Arsenal, as well as Bayern Munich and Paris Saint-Germain, in a reflection of Premier League wealth.

All expect Chelsea have increased in value over the past 12 months, according to Forbes, with PSG’s soaring by 32 per cent.

They assess Liverpool’s valuation at $5.29bn [£4.2bn] and that of Treble-chasing City at $4.99bn [£4bn].

Forbes reported that the top 30 clubs on their list had an average value of $2.89bn [£2.32bn], which is 14 per cent higher than in 2022.

They said this rise wasn’t fuelled by revenue but by the higher sums buyers are paying for teams.

For example, a consortium led by the American businessman Todd Boehly paid £4.25bn for Chelsea last year after Russian owner Roman Abramovich was sanctioned by the UK government.

If United are sold for around the $6bn mark, this represents 7.7 times their revenue, driving up their overall valuation.

Newcastle United, who rank 22nd on the list, saw their value shoot up 51 per cent to $794m [£640m] following their Saudi takeover.

West Ham placed 15th, Crystal Palace 20th, Leicester City 23rd, Aston Villa 24th and Everton 25th on the list.

Leicester’s valuation is expected to drop following their relegation from the Premier League to the Championship.

Source: soccanews.com