Real Madrid leads the list of most valuable soccer teams, according to Forbes.
The club’s current value sits at $3.6 billion, just ahead of Barcelona, which is worth $3.5 billion.
Manchester United, Bayern Munich and Arsenal round out the top five, while Manchester City, Chelsea, Liverpool, Juventus and Tottenham Hotspur complete the top 10.
Team values are based on current stadium deals. According to Forbes, the top 20 soccer clubs are worth an average of $1.44 billion, which is a 24% increase from last year.