Source: Forbes 2014
1. Real Madrid
Current value: $3.44 bil. 
Revenue(2012-13): $675 mil.
Operating income (2012-13): $172 mil.
Real Madrid has made it to the Champions League semifinals for four consecutive years and generates more revenue than any sports team in the world.
- Barcelona
Current value: $3.2 bil.
Revenue (2012-13): $627 mil.
Operating income (2012-13): $154 mil.
In April, Barcelona’s board voted to expand Camp Nou stadium to a capacity of about 105,000 from 99,000 as part of an $800 million renovation of its grounds.
- Manchester United
Current value: $2.81 bil.
Revenue (2012-13): $551 mil.
Operating income (2012-13): $165 mil.
Manchester United’s sponsorship revenue has increased from $62 million in fiscal 2010 to $138 million in 2013.
- Bayern Munchen
Current value: $1.85 bil.
Revenue (2012-13): $561 mil.
Operating income (2012-13): $122 mil.
Bayern Munich captured the Champions League in 2013 and its club membership swelled by almost 30,000 over the past year to 223,985.
5. Arsenal
Current value: $1.33 bil.
Revenue (2012-13): $370 mil.
Operating income (2012-13): $38 mil.
During the 2012-13 season, Arsenal qualified for the Champions League for the 16th consecutive year and departed the tournament at the round of 16 for the third consecutive season.
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