Real Madrid have been named as the most valuable football club in the world according to Forbes magazine.
The Spanish giants have been valued at just under €3.2 billion and top the list for the fourth year in a row. The Champions League finalists are just ahead of Spanish rivals Barcelona. Both teams are the only football teams in the world to be valued at over €3 billion.
Six Premier League teams make the top-ten of the list with Manchester United and Arsenal in the top-five.
The top-five clubs on the Forbes' list
Despite their relegation, Newcastle United are ranked as the 20th most-valuable team in the world. West Ham United are also in the top-20 and will be expected to rise even higher in the table next-season with an improved television deal and the move to the Olympic Stadium.
NFL team, the Dallas Cowboys remain the most valuable sports-team in the world and are joined by rivals, the New England Patriots in the top-five. The American teams book-end the Spanish duo and Manchester United.
Unsurprisingly, Premier League champions Leicester City have not made the list. You can see the top-20 here.
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