( CNN ) -- Manchester United were named the world 's most valuable football club for the sixth year in a row in Forbes magazine 's annual table . The English Premier League champions , owned by the American Glazer family , are valued at $ 1.84 billion . Record nine-time European champions Real Madrid are second in the list with a value of $ 1.32 billion , with Arsenal third on $ 1.18 billion . Reigning Spanish and European champions Barcelona were fourth , followed by the trio of Bayern Munich , Liverpool and AC Milan , who have 16 European Cups between them . Should San Kroenke buy Arsenal ? Forbes tallied income from revenue streams including broadcast deals , sponsorship and ticket sales . Overall , the top 20 clubs saw their average value decline to $ 632 million from $ 691 million , with 15 teams seeing their values decline . Juventus and Olympic Marseille had the two biggest increases in value - each gaining 9 % on the previous year . United , who claim to have 333 million followers worldwide , will begin a new sponsorship deal with American insurance giants Aon Corporation next season that will bring in $ 34 million a year over four years , 50 % more than its current deal with AIG . `` The club has really established itself as one of the top brands in world sport , '' Peter Schwartz , a business sports writer for Forbes , said in a statement . `` New kit deals and great marketing has seen them maintain their status despite all the problems of the global recession . '' Despite their success on and off the field , a wealthy group of United fans , known as the Red Knights , are putting together a bid to buy out the Glazers , who have loaded $ 839 million of debt onto the club . FORBES ' TOP TEN FOOTBALL TEAMS BY VALUE ( $ MILLION ) 1 . Manchester United 1,835 . 2 . Real Madrid 1,323 . 3 . Arsenal 1,181 . 4 . Barcelona 1,000 . 5 . Bayern Munich 990 . 6 . Liverpool 822 . 7 . AC Milan 800 . 8 . Juventus 656 . 9 . Chelsea 646 . 10 . Inter Milan 413 .
Manchester United named world 's most valuable club by Forbes for sixth straight year . Real Madrid come second on list , with Arsenal third and Barcelona fourth . Top 20 clubs see their average value decline to $ 632 million from $ 691 million .