PHOTOS: TEN Most Valuable football teams in the world

Real Madrid top Forbes' most valuable soccer teams list, followed by their La Liga counterparts, FC Barcelona.

Here is the list of the 10 most valuable soccer teams (in billions):

1: Real Madrid

Cristiano Ronaldo of Real Madrid celebrates with Isco and Marcelo after scoring

Cristiano Ronaldo of Real Madrid celebrates with Isco and Marcelo after scoring. Photograph: Denis Doyle/Getty Images

European champions Real Madrid are the world's most valuable soccer club for a third straight year, according to a Forbes poll released on Wednesday that showed the average value of the top 20 teams rose 11 percent over last year.

The Spanish club's value fell five percent to $3.26 billion but their $746 million in revenue, the highest of any sports team in the world, was enough to keep them top of the list, Forbes said in a statement.

2: FC Barcelona

Barcelona's Lionel Messi celebrates with teammates after scoring

Barcelona's Lionel Messi celebrates with teammates after scoring. Photograph: Gustau Nacarino/Reuters

With a valuation of $3.16 billion, Barcelona is in 2nd place on the list.

3: Manchester United

Manchester United players celebrate a goal during their Premier League match

Manchester United players celebrate a goal during their Premier League match. Photograph: Alex Livesey/Getty Images

Manchester United is the only English club to figure among the top three with a valuation of $3.10 billion.

4: Bayern Munich

Bayern Munich players acknowledge their fans after winnin

Bayern Munich players acknowledge their fans after winning. Photograph: Kai Pfaffenbach/Reuters

German champions Bayern Munich also among top five ($2.35 billion).

5: Manchester City

Manchester City's Sergio Aguero celebrates with teammate David Silva

Manchester City's Sergio Aguero celebrates with teammate David Silva. Photograph: Shaun Botterill/Getty Images

Manchester City ($1.35 billion) rounded out the top five.

6: Chelsea

Chelsea's players celebrate their victory against Manchester United. Photograph: Jamie McDonald/Getty Images

Chelsea are valued at $1.37.

Rising television and shirt sponsorship revenue helped drive the average value of the top 20 clubs to $1.16 billion, a staggering 84 percent jump from five years ago.

7: Arsenal

Arsenal's Alexis Sanchez (right) celebrates with teammate Francis Coquelin

Arsenal's Alexis Sanchez (right) celebrates with teammate Francis Coquelin. Photograph: Alex Livesey/Getty Images

Forbes has listed Arsenal at the 7th spot at a value of $1.31.

Eight of the top 20 teams are from the English Premier League, which Forbes credited to both a rise in the British pound relative to the euro and U.S. dollar and a lucrative new domestic TV deal starting from the 2016-17 season.

8: Liverpool

Steven Gerrard. Photograph: Jamie McDonald/Getty Images

Liverpool are at number 8 and are valued at $982.

9: Juventus

Juventus' Fernando Llorente, Gianluigi Buffon, Andrea Barzagli and Andrea Pirlo celebrate. Photograph: Stefano Rellandini/Reuters

Serie A champions Juventus ($837 million), AC Milan ($775 million), Inter Milan ($439 million) and Napoli ($353 million) are the only Italian teams to crack the top 20 but none were higher than ninth place.

10: AC Milan

AC Milan players celebrate

AC Milan players celebrate. Photograph: Marco Luzzani/Getty Images

AC Milan $775 rounds off the top ten most valuable football teams in the world.

Forbes said the once-great Serie A brand has been undermined over the past decade by match-fixing scandals, antiquated stadiums, rising debts and a decline in talent on the pitch.

For the complete list visit (https://Forbes.com/soccer)