Real Madrid have once again been ranked the most valuable football club in the world, with rivals Barcelona climbing above Manchester United into second place in Forbes’ latest annual valuations.
The Spanish giants are valued at $9.5bn (£7.06bn), a significant rise from last year’s figure of $6.75bn (£5.02bn), further cementing their position at the summit of world football’s financial landscape.
Barcelona moved up into second place with a valuation of $7.5bn (£5.57bn), pushing Manchester United down to third despite the Premier League club generating revenue of $865m (£643m) during the 2024-25 campaign.
United endured a difficult season on the pitch, finishing 15th in the Premier League before suffering defeat in the Europa League final.
Premier League dominates top 30 list
English clubs remain heavily represented in the rankings, with 11 Premier League sides featuring among the top 30 most valuable clubs globally.
Liverpool retained fourth place with a valuation of $6.2bn (£4.61bn) following their Premier League title triumph, while Paris Saint-Germain climbed from seventh to fifth after winning the Champions League.
Bayern Munich stayed sixth on the list at $5.7bn (£4.24bn), with Manchester City dropping from fifth to seventh at $5.5bn (£4.09bn).
Arsenal are ranked eighth with a valuation of $5.4bn (£4.01bn), ahead of Chelsea in ninth at $4.2bn (£3.12bn), while Tottenham complete the top 10 at $3bn (£2.23bn).
Arsenal could rise further next year after ending their 22-year wait for a Premier League title and reaching the Champions League final against PSG.
La Liga reliance on Real Madrid and Barcelona
Despite occupying the top two spots, Real Madrid and Barcelona are the only Spanish clubs inside the top 10.
Atletico Madrid are the next highest-ranked La Liga side in 11th place, highlighting the financial gap between Spain’s traditional heavyweights and the rest of the division.
Major League Soccer also has a growing presence in the rankings with seven clubs included, alongside four Serie A teams, three Bundesliga sides and one representative each from Ligue 1 and Portugal’s Primeira Liga.
Average club valuations continue to rise
Forbes reported that the average value of the 30 clubs listed now stands at $2.9bn (£2.15bn), marking a 21% increase from last year’s previous record average of $2.4bn (£1.78bn).
Elsewhere in the Premier League, Aston Villa rank 16th with a valuation of $1.4bn (£1.04bn), while Newcastle United sit 19th at $1.25bn (£935m).
Everton are 25th on the list with a value of $930m (£692m), followed by Fulham in 26th at $920m (£685m) and Brighton in 27th at $910m (£678m).
