Manchester United still the world's richest football club - Forbes

The study estimates the Premier League champions are worth £1.4bn, which puts them top of the list for the eighth year in a row.

Real Madrid are ranked second, valued at £1.17bn, while Barcelona are third with an estimated value of £1.07bn.

Bayern Munich and Arsenal make up the top five in the rankings, with Chelsea and Liverpool ranked seventh and eighth respectively.

Tottenham Hotspur are just outside the top 10 in 11th place, with Manchester City up to 13th in the list.

Forbes also revealed Manchester United are worth more than both Major League Baseball's New York Yankees and the Dallas Cowboys of the National Football League, while the club's run to last year's Champions League final, where they lost to Barcelona, commanded a £50m payout from Uefa.

The research added: "The top teams on the pitch are going to continue to get richer. This year's Champions League payout will be higher than 2011 for the 32 tournament teams."

Top 13 Richest Clubs in 2012

    1. Manchester United - $2,235bn (£1.4bn)
    2. Real Madrid - $1,877bn (£1.17bn)
    3. Barcelona - $1,307bn (£1.07bn)
    4. Arsenal - $1,292bn (£800m)
    5. Bayern Munich - $1,235bn (£770m)
    6. AC Milan - $989m (£615m)
    7. Chelsea - $761m (£473m)
    8. Liverpool - $619m (£385m)
    9. Juventus - $591m (£367m)
    10. Schalke 04 - $587m (£365m)
    11. Tottenham Hotspur -$564m (£351m)
    13. Manchester City - $443m (£275m)