Real Madrid
has overtaken Manchester United as the world's most valuable football club,
according to business magazine Forbes.
It is the first
time that Man Utd has lost the top spot since Forbes first started compiling
its list in 2004.
Forbes now
values the Spanish giant at $3.3bn (£2.2bn), with Man Utd in second place on
$3.17bn. Barcelona is third.
Forbes said Real
Madrid's financial success came despite the continuing woes of the Spanish
economy.
In coming to its
figures, Forbes looks at a football club's various revenue streams, such as
television money, ticket sales, merchandise and concessions.
After Barcelona
on $2.6bn, Forbes found that Arsenal was the fourth richest club, worth
$1.33bn, followed by Bayern Munich ($1.31bn), AC Milan ($945m), Chelsea
($901m), Juventus ($694m), Manchester City ($689m) and Liverpool ($651m)
David Beckham,
now with French team Paris St-Germain, was the highest earning player, followed
by Real Madrid's Ronaldo.
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