Real Madrid is the world's top club with the highest market value with $6.07 billion, up 19 percent from last year's value. Manchester United is second, followed by Barcelona third with $5.51 billion.
Newcastle United is the biggest gainer in this year's list after its ownership was transferred to the Saudi Investment Fund in October 2021. The magazine took into account its own brand as well as the profits it makes from television revenues, stadium tickets and sponsorship rights, compared to expenses related to players' salaries, net debts and others.