The richest football team in the world, Real Madrid has topped Forbes’ list of the most valuable football teams in the world. The nine-time champions of Europe are reportedly worth $3.44 billion. And for the first time since Forbes began ranking, two Spanish teams, Real Madrid and Barcelona, have occupied the top two spots.

Top 5 teams

(1) Real Madrid ($3.44 billion)

(2) Barcelona ($3.28 billion)

(3) Manchester United ($2.81 billion)

(4) Bayern Munich ($1.85 billion)

(5) Arsenal ($1.33 billion)