Manchester United have been named the world's most valuable football club by Forbes for the first time in five years.
Real Madrid, who held top spot for the last four years, fell to third place with a value of $3.58 billion.
United generated record revenues of $765 million - over $75 million more than Spanish giants Barcelona and Real Madrid - aided by an unprecedented domestic television deal, global commercial reach and an Adidas uniform sponsorship arrangement worth a reported $90 million per year.
Manchester United minted around $405 million in advertising and sponsorship revenue- more than any other football team.
The survey further suggested that United is the most profitable team in the world with an operating income of $288 million, $107 million more than Real.
West Ham and Leicester City have occupied the 15 and 19 position respectively.
Six of the top 10 clubs on the list were Premier League clubs, with Manchester City ($2.08bn) fifth, Arsenal ($1.93bn) sixth, Chelsea ($1.85bn) seventh, Liverpool ($1.49bn) eighth and Tottenham ($1.06bn) 10th.
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Stefano Pioli guided the club until early May, when he was sacked toward the end of an eight-match winless streak. Meanwhile, Sassuolo coach Eusebio Di Francesco (1/12) is set to replace Spalletti in the Roma dugout.
Apart from broadcasting rights, shirt and kit sponsorships are another important driver of revenue.
The Red Devils leap frogged Real Madrid.
"England dominates our list. due to the Premier League having the biggest domestic and global television deals".
Manchester United celebrate with the trophy after winning the Europa League against Ajax Amsterdam in Stockholm May 25, 2017. And finally, the Champions League, the money-spinner, plays a huge part in determining the most valuable football teams.
German champions Bayern Munich ($2.71bn/£2.10bn) were ranked fourth while Serie A champions Juventus ($1.26bn/£980m) - who lost the 2017 Champions League final to Real Madrid - were ninth.
But as it stands the teams from Europe's top six leagues can potentially take up 21 of the 32 spots on offer in the Champions League group stages, leaving UEFA's other 49 member countries to fight it out for the rest.
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