Manchester United are now the world's most valuable football club at some £2.86 billion.

Manchester United are now the world's most valuable football club at some £2.86 billion after moving ahead of Real Madrid at the top of business magazine Forbes' 14th annual rich list.

According to Forbes' calculations, which are based on equity plus net debt, revenues and operating income for the 2015-16 season, United generated some 765 million US Dollars (£592m) which saw the Old Trafford club return to top spot for the first time in five years.Spanish giants Barcelona were placed second with an overall worth of 3.64bn US Dollars (£2.82bn), with rivals Real, who won both the LaLiga title and Champions League last season, in third place at 3.58bn US Dollars (£2.77bn), having been top since 2013.

German side Bayern Munich are listed fourth at 2.71bn US Dollars (£2.1bn).

Forbes Media assistant managing editor Mike Ozanian said: "Manchester United's return to the top spot is a testament to their powerful brand and marketing acumen."

The financial muscle of the English Premier League, which is benefiting from a huge increase in broadcasting revenue, is clear as Manchester City, Arsenal, Chelsea, Liverpool and Tottenham all also made the top 10.

Leicester won the 2015-16 Premier League title and placed 19th, while West Ham, who have now moved into the London Stadium, are 15th.

Serie A winners Juventus, who were beaten by Real Madrid in Saturday's Champions League final in Cardiff, are ninth, with French giants Paris St Germain just outside the top 10.

Forbes 'The Business Of Soccer' World's Most Valuable Teams 2015-2016:

1 - Manchester United 3.69bn US Dollars (£2.86bn)
2 - Barcelona 3.64bn US Dollars (£2.82bn)
3 - Real Madrid 3.58bn US Dollars (£2.77bn)
4 - Bayern Munich 2.71bn US Dollars (£2.1bn)
5 - Manchester City 2.08bn US Dollars (£1.61bn)
6 - Arsenal 1.93bn US Dollars (£1.5bn)
7 - Chelsea 1.85bn US Dollars (£1.43bn)
8 - Liverpool 1.49bn US Dollars (£1.15bn)
9 - Juventus 1.26bn US Dollars (£976m)
10 - Tottenham 1.06bn US Dollars (£821m)
11 - Paris St Germain 841m US Dollars (£652m)
12 - Borussia Dortmund 808m US Dollars (£626m)
13 - AC Milan 802m US Dollars (£621m)
14 - Atletico Madrid 732m US Dollars (£567m)
15 - West Ham 634m US Dollars (£491m)
16 - Schalke 04 629m US Dollars (£487m)
17 - Roma 569m US Dollars (£441m)
18 - Inter Milan 537m US Dollars (£416m)
19 - Leicester City 413m US Dollars (£320m)
20 - Napoli 379m US Dollars (£294m)