Real’s value stands at $3.645 billion (£2.52bn), according to US business magazine Forbes, with an annual revenue of $694m (£480m) – pipping Liga rivals Barcelona, who are second, in both categories.
Manchester United are third, with fellow Premier League sides Arsenal (fifth), Manchester City (sixth), Chelsea (seventh), Liverpool (eighth) and Tottenham (tenth) all securing spots in the top 10.
The study added that the 20 most valuable football teams are worth 24 per cent more than 12 months ago, which is attributed to booming television and kit deals. Real occupy second spot in the rankings of the world’s richest sports teams, with NFL outfit Dallas Cowboys topping the pile with a valuation of £4bn (£2.77bn).
Forbes’ top 10 world’s most valuable football teams:
1 Real Madrid – US$3.645 bn (£2.52billion)
2 Barcelona – $3.549bn (£2.46bn)
3 Manchester United – $3.317bn (£2.3bn)
4 Bayern Munich – $2.678bn (£1.85bn)
5 Arsenal – $2.017bn (£1.4bn)
6 Manchester City – $1.921bn (£1.33bn)
7 Chelsea – $1.661bn (£1.15bn)
8 Liverpool – $1.548bn (£1.07bn)
9 Juventus – $1.299bn (£900million)
10 Tottenham – $1.017bn (£704m)