Manchester United and Manchester City are both among the top five most valuable clubs in the world, according to Forbes.
The magazine has published their annual report into the most valuable sports clubs, with United ranked third behind Real Madrid and Barcelona. City completed the top five behind Bayern Munich.
United were valued at $3.8bn (£3bn), whereas City were valued at $2.69bn (£2.1bn).
Increased sponsorship and broadcasting rights have played a part in the general rise among the most valuable clubs, with increased Champions League and Premier League rights deals allowing clubs to pay more to their players and managers.
Using Champions League income from the 2017/18 season, Forbes calculated that City earned $72.6m from their run to the quarter finals, while United were not in the top ten earners after losing to Sevilla in the last-16. Ole Gunnar Solskjaer's men made it a stage further this season, so would be expected to rise in the list next year.
The report adds that the six teams in the Premier League who have sold naming rights to their stadiums - including City - have earned a combined $57m, and they calculated that United could earn a further $35m per year if they sold the naming rights to Old Trafford.
Top five most valuable football clubs:
- Real Madrid ($4.24bn)
- Barcelona ($4bn)
- Manchester United ($3.8bn)
- Bayern Munich ($3bn)
- Manchester City ($2.69bn)
In terms of broadcasting value, Forbes say United are the second most valuable team in the world, accumulating $1.264bn across all competitions, just behind Real Madrid ($1.277bn).
In fact, United are the most valuable English club for matchday earnings ($655m) and commercial value ($1.4bn).
However, United and City are pushed out of the top five when other sports are factored in, with Dallas Cowboys, New York Yankees and New York Knicks joining Real Madrid and Barcelona in the top five most valuable sports teams in the world.
