(Reuters) - Real Madrid unseated Manchester United as the world's most valuable soccer club, according to the annual list published by business magazine Forbes on Wednesday. Real Madrid, who in 2018 won the Champions League for a third consecutive year, were valued at $4.24 billion (3.36 billion pounds), up 9% from a year ago, Forbes said. Bayern Munich ($3 billion) and Manchester City ($2.69 billion) rounded out the top five. "Soccer team values are increasing because companies continue to increase the amount of money they pay teams for shirt and kit rights, and sponsorships," said Michael Ozanian, assistant managing editor at Forbes. "Soccer is the most popular team sport in the world and soccer players are running billboards for brands."

Source: The Star May 29, 2019 16:56 UTC