World's 30 most valuable clubs as Man Utd narrowly…

World's 30 most valuable clubs as Man Utd narrowly miss out on top spot and history made

Real Madrid have retained their spot as the most valuable football club in the world, narrowly beating Manchester United.

American business magazine Forbes have been publishing an annual list of the most valuable clubs since 2007 and history was made as several Major League Soccer (MLS) sides appeared on the list for the first time ever.

European champions Real retained their place as number one with a value of $6.07 billion (£4.9 billion), a significant jump from last year's $5.1 billion (£4.1 billion) valuation. United moved up to second place, leapfrogging Barcelona, with a $6 billion (£4.85 billion) value.

The publication estimate United's annual revenue to be $779m (£628m) and their operating income to be $108m (£87m). Barcelona sit third with a $5.51 billion (£4.4 billion) valuation, while Liverpool and Manchester City round out the top five with values of $5.29 billion (£4.26 billion) and $4.99 billion (£4.02 billion) respectively.

City's estimated operating income of $175m (£141m) is the highest of any club on the list. The remainder of the top ten is made up of Bayern Munich, Paris Saint-Germain, Chelsea, Tottenham and Arsenal.

In direct contrast to City, PSG are estimated to have lost around $219m (£176m) in operating income this year - more than any other club. Despite this, PSG are valued at $4.21 billion (£3.39 billion) in a whopping 32% increase from last year's valuation.

Real Madrid are the most valuable club in the world, according to Forbes (Burak Akbulut/Getty Images)

Serie A giants Juventus have seen their value drop by 12 percent to $2.16 billion (£1.74 billion) following a huge financial scandal that has seen the club hit with a points' deduction and their entire board resign, with several of them also hit with worldwide bans.

Unsurprisingly, Newcastle's value grew the most out of all the clubs on the list after they qualified for the Champions League for the first time in 20 years following the Saudi Arabian Public Investment Fund's first full season as owners. They are now valued at $794m (£640m), a huge 51% increase on last year.

In total, the Premier League was the most represented league on the list with 12 clubs making the top 30, including West Ham, Crystal Palace, Leicester, Aston Villa and Everton. Seven MLS clubs also made the list, with LAFC leading the way with a $1 billion (£806m) valuation.