Real Madrid top the list with a massive £2 billion, closely followed by Barcelona on £1.9 billion, while Man Utd drop down to third.
Forbes top 10:
1. Real Madrid £2bn
2. Barcelona £1.9bn
3. Manchester United £1.65bn
4. Bayern Munich £1.1bn
5. Arsenal £767m
6. Chelsea £511m
7. Manchester City £508m
8. AC Milan £504m
9. Juventus £501m
10. Liverpool £407m