Spanish giants Real Madrid have retained their position as the most valuable football club in the world, according to Forbes’ latest rankings, while Barcelona moved ahead of Manchester United to claim second place.
Forbes valued Real Madrid at $9.5 billion (£7.06 billion), a significant increase from last year’s valuation. Barcelona followed with a valuation of $7.5 billion (£5.57 billion), while Manchester United ranked third at $7.2 billion (£5.35 billion).
Despite generating $865 million (£643 million) in revenue during the 2024-25 season, Manchester United endured a difficult campaign, finishing 15th in the Premier League and falling short in the Europa League final.
The Premier League remains the most represented league in the rankings, boasting six clubs in the top 10 and 11 teams in the top 30.
Liverpool, winners of the 2024-25 Premier League title, retained fourth place with a valuation of $6.2 billion (£4.61 billion). Newly crowned European champions Paris Saint-Germain rose from seventh to fifth with a value of $5.8 billion (£4.31 billion), while Bayern Munich remained sixth at $5.7 billion (£4.24 billion).
Manchester City slipped from fifth to seventh, valued at $5.5 billion (£4.09 billion), followed by Arsenal in eighth at $5.4 billion (£4.01 billion). Chelsea ranked ninth with $4.2 billion (£3.12 billion), while Tottenham Hotspur completed the top 10 at $3 billion (£2.23 billion).
Arsenal could climb higher in future rankings after ending a 22-year wait for the Premier League title and reaching the Champions League final against PSG.
Outside Real Madrid and Barcelona, the only other Spanish club in the top 30 is Atlético Madrid, which placed 11th.Overall, the average valuation of the 30 clubs on the list rose to $2.9 billion (£2.15 billion), representing a 21 per cent increase from the previous year’s record average of $2.4 billion (£1.78 billion).
