United generated revenues of £593million during the 2015/16 campaign which was £60m more than both Spanish clubs.
According to the US business magazine, Barcelona have a current value of £2.82bn, while the big surprise is Real Madrid dropping down from first to third, despite winning La Liga and Champions League and are worth £2.77bn.
Madrid have led the way for the last four years but they are now looking up the table as United surge ahead of them according to the latest findings.
The Red Devils generate an operating income of £223m which is by far the most profitable football club in the world and £83m more than Real Madrid.
Forbes’ top 10 world’s most valuable football teams:
1) Manchester United – US$3.69bn (£2.86bn)
2) Barcelona – $3.64bn (£2.82bn)
3) Real Madrid – $3.58bn (£2.77bn)
4) Bayern Munich – $2.71bn (£2.10bn)
5) Manchester City – $2.08bn (£1.61bn)
6) Arsenal – $1.93bn (£1.50bn)
7) Chelsea – $1.85bn (£1.43bn)
8) Liverpool – $1.49bn (£1.15bn)
9) Juventus – $1.26bn (£980m)
10) Tottenham – $1.06bn (£820m)
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