NEW YORK -- Real Madrid passed Manchester United as the most valuable soccer team in Forbes' annual estimates.
Forbes valued Real Madrid at $3.3 billion in rankings released Wednesday, up from last year's estimate of $1.88 billion.
Manchester United, which had been No. 1 since Forbes started the list in 1994, was second at $3.17 billion, a 42 per cent increase. Barcelona was third at $2.6 billion, followed by Arsenal ($1.33 billion), Bayern Munich ($1.31 billion), AC Milan ($945 million), Chelsea ($901 billion), Juventus ($694 million), Manchester City ($689 million) and Liverpool ($651 million).
AC Milan was the only team among the top 10 estimated to decline in value over the past year, dropping four per cent.
Earlier this month, Forbes estimated the New York Yankees had the highest value in Major League Baseball at $2.3 billion. In September, it said the Dallas Cowboys were tops in the NFL at $2.1 billion.
Among players, Forbes estimated Paris Saint-Germain's David Beckham as the highest earner at $50.6 million, with $44 million from endorsements. Real Madrid's Cristiano Ronaldo was second at $43.5 million ($21.6 million in endorsements) and Barcelona's Lionel Messi third at $40.3 million ($20 million in endorsements).
-- The Associated Press