Manchester United have been valued as the richest club in the world, according to Forbes 2011 Soccer Valuation.
For the seventh consecutive year Manchester United top the Forbes list ranking of the most valuable football teams, with a value of £1.13bn.
Real Madrid are again No2 with a value of £900 million, followed by Arsenal at £700 million, Bayern Munich and Barcelona complete the top five. Milan are the highest-placed Italian side on the list in sixth place, with Juventus in eighth and Inter Milan tenth. Two other Premier League sides are in the top ten, with Chelsea (£400 million) in seventh place and Liverpool (£332 million) in ninth.
Forbes said it valued teams based on what they have been sold for in the past relative to sales and profits, broadcast agreements and debt from new or pending stadium deals.
England midfielder David Beckham continues to dominate the list of highest-paid players thanks to recent endorsement deals.
His earnings last year were estimated at 40 million US dollars (£24 million), ahead of Cristiano Ronaldo (£23 million) and Lionel Messi (£19 million).