Spanish giants, Real Madrid, have once again emerged as the world’s most valuable football club, according to Forbes’ 2026 rankings, while Barcelona moved ahead of Manchester United into second place.
Forbes released its latest list on Friday, valuing Real Madrid at $9.5 billion. It marks the fifth straight year Los Blancos have topped the rankings and the 10th time in the last 13 editions.
Despite a difficult season on the pitch, the Spanish club posted a record $1.27 billion in revenue during the 2024-25 campaign.
Forbes said the figure is the highest ever generated by a football club and even surpassed the revenue recorded by the NFL’s Dallas Cowboys.
Barcelona climbed into second place with a valuation of $7.5 billion, overtaking Manchester United, who slipped to third at $7.2 billion after finishing 15th in the Premier League and losing the Europa League final.
Premier League champions Liverpool held onto fourth place with a valuation of $6.2 billion, while UEFA Champions League winners Paris Saint-Germain rose to fifth with $5.8 billion.
Bayern Munich occupied sixth position at $5.7 billion, with Manchester City ranked seventh at $5.5 billion.
Arsenal moved into eighth with a valuation of $5.4 billion, while Chelsea and Tottenham Hotspur completed the top 10.
Forbes stated that the combined value of the world’s 30 most valuable football clubs has now reached $87 billion, with the average club valuation increasing by 21 per cent from last year.
The publication also pointed to the financial strength of the Premier League, which has 11 clubs featured in the top 30, more than any other league.
Other English teams included in the rankings are Aston Villa, Newcastle United, Everton, Fulham and Brighton.
Major League Soccer also enjoyed strong representation with seven clubs making the list, including Inter Miami, LAFC and LA Galaxy, highlighting the growing commercial appeal of football in the United States.
Forbes credited Real Madrid’s sustained financial dominance to expanding commercial income, redevelopment of the Santiago Bernabéu and increasing investor interest in elite football clubs worldwide.
The report further noted that American investors are continuing to strengthen their presence in European football, with several Premier League and Serie A clubs now owned or backed by U.S.-based investment groups.
Top 10 most valuable football clubs in 2026 (Forbes)
Real Madrid — $9.5bn
Barcelona — $7.5bn
Manchester United — $7.2bn
Liverpool — $6.2bn
Paris Saint-Germain — $5.8bn
Bayern Munich — $5.7bn
Manchester City — $5.5bn
Arsenal — $5.4bn
Chelsea — $4.2bn
Tottenham Hotspur — $3bn
