Real Madrid are officially the richest football club in the world, according to the Forbes rich list, with Manchester United dropping down to second position.
United have been at the top of the Forbes rich list since its introduction back in 2004, but this year they have finally been overtaken by the Spanish giants.
Just behind United are the La Liga champions-elect Barcelona, and just behind them are Arsenal and Bayern Munich.
Real Madrid are now valued at a staggering £2.15b, which makes them the most valuable sports franchise in the world, and they are closely followed by United who are now worth £2.07b.
"This is the first time since Forbes began valuing soccer teams in 2004 that Manchester United is not No 1 on the list," Forbes said in a statement. "Real Madrid has been consistently delivering the highest revenues of any soccer team in the world, despite an intense economic meltdown in Spain.
"With superstars like Cristiano Ronaldo on the pitch, and coach Jose Mourinho on the bench, Real Madrid has thrived under the leadership of billionaire president Florentino Perez."
The statement continued: "According to this year's soccer valuations, the top 20 teams are worth an average of 968million dollars (£634m), an increase of 26 per cent over last year."
Here is the top 10 in full:
1. Real Madrid | $3.3b
2. Manchester United | $3.1b
3. Barcelona | $2.6b
4. Arsenal | $1.3b
5. Bayern Munich | $1.3b
6. AC Milan | $945m
7. Chelsea | $901m
8. Juventus | $694m
9. Manchester City | $689m
10.Liverpool | $651m
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