Nine-time European champion Real Madrid have ended Manchester United’s run as the world’s most valuable soccer team, according to an annual survey released by Forbes yesterday.

The value of Real, a Spanish club owned by its thousands of members, surged 76 per cent to $3.3 billion from a year ago, Forbes said in a statement.

Manchester United, who have won the English title a record 19 times and are controlled by the American Glazer family, rose 42 per cent to $3.2 billion but dropped to second on the list for the first time since Forbes began tracking soccer finances in 2004.

Real’s Spanish rivals Barcelona ($2.6 billion), England’s Arsenal ($1.33 billion) and German side Bayern Munich ($1.31 billion) rounded out the top five.

The top 20 soccer teams are worth an average of $968 million, an increase of 26 per cent over last year, Forbes said.