It is the fourth year in a row they have topped the Forbes list
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.