Real Madrid has passed Manchester United as the most valuable football team in Forbes' annual estimates.
Forbes valued Real Madrid at $US3.3 billion in rankings released Wednesday, up 76 per cent from last year's estimate of $US1.88 billion.
United, which had been No. 1 since Forbes started the list in 1994, was second at $US3.17 billion, a 42 per cent increase. Barcelona was third at $US2.6 billion, followed by Arsenal ($US1.33 billion), Bayern Munich ($US1.31 billion), AC Milan ($US945 million), Chelsea ($US901 billion), Juventus ($US694 million), Manchester City ($US689 million) and Liverpool ($US651 million).
Milan was the only team among the top 10 estimated to decline in value over the past year, dropping 4 per cent.
Among players, Forbes estimated Paris Saint-Germain's David Beckham as the highest earner at $US50.6 million, with $US44 million from endorsements. Real Madrid's Cristiano Ronaldo was second at $US43.5 million ($21.6 million in endorsements) and Barcelona's Lionel Messi third at $US40.3 million ($20 million in endorsements).
