Manchester United tops the list of most valuable soccer team

English club, Manchester United have replaced European champions Real Madrid, as the world's most valuable soccer team, according to the annual list published by Forbes on Tuesday.

Manchester United were valued at $3.69 billion, an 11 percent jump compared to last year.

Barcelona were second on the list with a value of $3.64 billion while Real Madrid, who held top spot for the last four years, fell to No. 3 on the list, valued at $3.58 billion. Rounding out the top five are Bayern Munich at No. 4 with $2.71 billion and Manchester City at No. 5 with $2.08 billion.