Manchester United is still the most valuable football club in the world, according to Forbes magazine.

福布斯杂志统计，曼彻斯特联队仍然是世界上最有价值的足球俱乐部。

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The Premier¹ League（超级联赛） title holders², who came second in a list compiled by Deloitte in February, again topped the table ahead of Real Madrid.

Forbes values United at £1.19bn($1.84bn), Real at £859m ($1.32bn), and Arsenal³, in third, at £767m ($1,181m).

It uses data on income streams such as broadcast rights, sponsorship（赞助） and sales of tickets and merchandise.

Barcelona is fourth in the 20-team list which includes six clubs from the Premier League plus Newcastle United who have spent this season playing in the Championship.

Liverpool, Chelsea and AC Milan all made the top 10, but the trio's value had each fallen by 19% in the 2008/09 season according to the Forbes calculations.

Juventus and Olympic Marseille had the two biggest increases in value - each gaining 9% on the previous year.

Increasing sponsorship and media revenue meant "the news continues to be good for investors⁴" said Michael Ozanian, national editor at Forbes.

However the average worth of the clubs in the list fell 8.5%.