Manchester United continue to top the Forbes list as the most valuable football club in the world, but Real Madrid are gaining ground.

United are also ranked as the most valuable team in any sport, worth 2.24billion US dollars (£1.4bn), 385million USD more than baseball's New York Yankees and the NFL's Dallas Cowboys.

Arsenal are fourth on the list, worth 1.29billion USD (£800m), behind Real Madrid (£1.6bn) and Barcelona (£816m) but just ahead of Bayern Munich (£766m). Chelsea are in seventh place, worth £474m, and Liverpool eighth with a value of £386m.

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