Real Madrid claimed the top spot as the world's most valuable football club in Forbes' annual list released on Thursday.

They edged past Manchester United, Barcelona, Liverpool, and Manchester City in the rankings.

According to the business magazine, Madrid's value stands at $6.6 billion, narrowly surpassing United's $6.55 billion.

Despite facing financial challenges, Barcelona secured the third position with a value of $5.6 billion, exceeding Liverpool's $5.37 billion.

This marks Madrid's third consecutive year at the top and their eighth time leading the list in 11 years.

Forbes evaluates clubs based on their "enterprise value," considering factors such as market value, debt, and liquid assets, with data sourced from Deloitte.

Madrid's record-breaking revenue of $873 million in 2022-23, the highest among all clubs, was highlighted by Forbes.

This revenue was attributed to broadcasting, commercial deals, and matchday income.

The Forbes list features 30 teams, with 12 Premier League clubs making the cut.

Tottenham, Chelsea, and Arsenal also secured spots in the top 10. Atlético Madrid, representing LaLiga, ranked 13th with a value of $1.3 billion.

Real Madrid's financial success has been fueled by their recent achievements in the Champions League, having won the tournament five times since 2014.

They are set to face Borussia Dortmund in this year's final on June 1.

Despite challenges in broadcast rights markets for the Bundesliga, Serie A, and Ligue 1, Forbes noted that the average value of teams on the list has increased by 5.1% compared to the previous year, reaching $2.3 billion.